Nvidia said on Monday, September 28, that its board had authorized an additional $150 billion for share repurchases, lifting the amount still available under its existing program to $235 billion. The Santa Clara, California, chipmaker described the increase as the largest ever approved for a buyback program. The decision comes as strong demand for its artificial intelligence processors generates cash for investment and shareholder returns.
The announcement authorizes future purchases rather than reporting that $150 billion of stock has already been bought. Nvidia said it expects to carry out the remaining $235 billion program through its fiscal year 2028. The actual number of shares acquired will depend on purchases made over that period and the prices paid.
Chief executive Jensen Huang said the company’s cash generation allows it to invest in AI and accelerated computing while returning capital to shareholders. In its company statement, Nvidia linked the expanded authorization to its confidence in the longer-term market for those technologies. The statement did not set a fixed timetable for individual transactions.
Reuters reported that the $150 billion addition exceeds the $110 billion increase Apple approved in 2024. It also reported that Nvidia ended its July quarter with $22.44 billion in cash and cash equivalents, and had announced an $80 billion buyback increase in May. Those figures put the new authorization in the context of a broader program, rather than a single immediate cash outlay.
Associated Press reported that Nvidia shares rose about 2.1% in Monday afternoon trading. Repurchases can return cash to investors and reduce the number of shares outstanding, which can raise earnings per share. They do not guarantee a higher share price, and the amount actually spent can differ from the authorized ceiling.
The decision puts Nvidia’s capital allocation under scrutiny as technology companies spend heavily on AI infrastructure. Reuters said some investors question how long that spending surge can continue amid growing chip competition. Nvidia has stated an expectation to complete the remaining repurchase program through fiscal 2028; subsequent company disclosures will show how much it actually buys.
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