Nvidia Corp.’s board authorized on Monday a $150 billion increase in its stock repurchase program, which now totals $235 billion. The company stated that it is “the largest share repurchase authorization increase in history.”
Under the firm’s current plans, the program should run through the end of fiscal 2028. “NVIDIA’s growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing. Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders. This authorization reflects our confidence in the long-term opportunity ahead,” Nvidia CEO Jensen Huang said.
Nvidia’s shares added 1.48% in premarket trade after the announcement.