Nvidia Adds a Record $150 Billion to Its Buyback, Lifting Total Authorization to $235 Billion

Nvidia's board has approved an additional $150 billion for the company's share repurchase program, lifting the total authorization to $235 billion — the largest buyback authorization in corporate history, the company said Monday. Nvidia expects to execute the remaining authorization by the end of its fiscal year 2028, which closes in January of that year.

The announcement immediately became the biggest capital-return commitment ever made by a public company. The $150 billion increment alone is larger than Apple's record $110 billion buyback authorization from 2024. Investors read it as a signal of confidence: the stock rose more than 3 percent at market open, holding Nvidia's position as the world's most valuable company at roughly $5.6 trillion, about $700 billion ahead of second-place Apple at $4.9 trillion.

Nvidia framed the move as the natural result of a cash machine running at full speed. CEO Jensen Huang said the company's growth is being driven by a once-in-a-lifetime platform transition to AI and accelerated computing, that its cash generation allows it to both invest in the technologies driving that transition and return capital to shareholders, and that the scale of the authorization reflects confidence in the long-term opportunity ahead.

The buyback also caps a stretch in which Nvidia has been deploying capital in a second direction that draws increasing scrutiny: direct investments in AI companies and financing arrangements that lend money to its own major customers. The company is effectively recycling its AI windfall back into the ecosystem that generates its revenue, deepening its grip on the industry's economics while regulators and analysts try to read how circular the demand picture really is.

A record buyback at record prices sharpens an old debate. To supporters, returning cash signals that AI demand is durable and that even after the largest capital expenditure program in semiconductor history, Nvidia generates more money than it can productively reinvest. To skeptics, companies authorize buybacks of this size precisely when reinvestment gets expensive — and when the marginal dollar buys less growth than it used to. Both camps will be watching whether data-center orders hold up through the execution window.

Either way, the practical effect is mechanical and large: $235 billion of authorized purchases removes shares from circulation over roughly the next two fiscal years, providing persistent bid-side support for the stock and quietly concentrating ownership in the funds that track Nvidia's index weight. What started as a chip company's capital program is now a macro-scale force in global equity markets.