Nvidia added $150 billion to its stock buyback program on September 28, bringing the total authorized amount to $235 billion—the largest buyback ever announced, surpassing Apple's $110 billion program from May 2024. CEO Jensen Huang framed the buyback as funding the AI buildout while rewarding shareholders.
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The increase comes four months after the chip giant added $80 billion to its buyback program, bringing the total remaining authorized amount to $235 billion.
"The authorization eclipses the $110 billion stock buyback that Apple unveiled in May 2024 and comes just four months after Nvidia’s board added $80 billion to the buyback program." More here, via WSJ: Read more on wsj.com
The record buyback is CEO Jensen Huang’s bet that he can fund huge swaths of the AI buildout while still rewarding his own shareholders.