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

Sept 28 — Nvidia bolstered its share buyback authorization by $150 ​billion, surpassing Apple's $110 billion boost in 2024 to mark the biggest-ever increase in a ‌stock repurchase program.

The additional authorization lifts Nvidia's remaining buyback capacity ⁠to $235 billion, which ​it expects 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 gained 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 said.

Last month, Nvidia forecast about 70% revenue growth for fiscal 2028, reassuring investors who have questioned how long the AI spending surge can ​last after years of explosive growth.

The company ‌has also been ‌investing ⁠in AI startups and cloud providers, drawing scrutiny from some investors 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.

(Reporting by ⁠Anhata ​Rooprai in Bengaluru; Editing by Shreya Biswas and Anil ​D'Silva)

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