Nvidia authorises $150bn share buyback in largest increase on record
Nvidia has authorised an additional $150bn of share repurchases, the largest increase in authorisation on record, taking its remaining buyback firepower to $235bn.
Nvidia’s board has authorised an additional $150bn under the company’s existing share repurchase programme, the chipmaker said on Monday, in what it described as the largest increase in share repurchase authorisation on record.
The additional authorisation brings the total remaining amount authorised to $235bn, which the company expects to execute through fiscal year 2028, Reuters reported.
Shares in the Santa Clara, California-based company rose 1.7 per cent in premarket trading on Monday.
Nvidia has emerged as one of the biggest beneficiaries of the artificial intelligence boom, with demand for its expensive chips and related technology powering rapid revenue growth.
“Nvidia’s growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing,” chief executive Jensen Huang said.
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