Nvidia boosts share buyback by record $150 billion as AI boom fuels growth

Reports coming in for today mention that Nvidia bolstered its share buyback authorization by $150 billion, surpassing Apple's $110 billion lift in 2024 to mark the biggest-ever gain in a stock repurchase program.

The additional authorization lifts Nvidia's remaining buyback capacity to $235 billion, which it anticipates to use through fiscal 2028, as surging demand for AI training and inference fuels cash generation.

Shares of Santa Clara, California-based Nvidia were up 0.8% in premarket trading after rising as much as 1.8% earlier. The stock has advanced more than 20% this year through Friday's close.

"Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders," CEO Jensen Huang stated.

Last month, Nvidia forecast around 70% topline expansion for fiscal 2028, reassuring market participants who have questioned how long the AI spending surge can last after years of explosive expansion.

The firm has additionally been investing in AI startups and cloud providers, drawing scrutiny from some market participants over whether such funding indirectly supports demand for its own chips.

Nvidia ended the July quarter with $22.44 billion in cash and cash equivalents.