Nvidia Raises Share Buyback Authorization by $150 Billion

Nvidia announced on 28 September 2026 that its board of directors had authorized a $150 billion increase to the company's share repurchase program, raising the total remaining buyback authorization to $235 billion, which the chipmaker expects to execute through fiscal year 2028.¹⁵²

A record increase

The additional $150 billion authorization adds to capacity previously approved by Nvidia's board rather than replacing it, according to the company. Nvidia said the total remaining buyback authorization now totals $235 billion, a figure independently confirmed by Reuters and CNBC.³¹⁵

The increase surpasses Apple's $110 billion buyback approval from 2024, making it the largest single increase to a stock repurchase program on record, according to Reuters and Calcalist. In its own announcement, Nvidia called this the biggest jump in a share repurchase authorization ever recorded.⁶⁷⁵

Financial-news.co.uk noted that Nvidia generally runs its buyback programs without a set timeline, purchasing shares when conditions seem favorable instead of following a rigid schedule. Citing the Wall Street Journal, the outlet said this $150 billion boost marks the largest one-time expansion of a buyback program ever seen.³

Company's rationale

Nvidia CEO Jensen Huang said the company's growth is being driven by what he called a shift in computing platforms toward artificial intelligence. "NVIDIA's growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing," Huang said. He added: "Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders."²⁵

Huang said the buyback authorization reflects the company's outlook on future demand. "This authorization reflects our confidence in the long-term opportunity ahead," he said. Speaking on CNBC's Squawk Box, Huang also described the scale of current AI infrastructure investment: "I think we're going through the largest infrastructure buildout in human history, and we have the benefit of being a very central part of that."²⁵

Huang said Nvidia intends to keep returning cash to investors as its revenue grows. "We're going to generate a lot of cash in the coming years, and every single year, as we generate more cash, we'd like to be able to return it back to shareholders," he said. CNBC reported that Huang also said Nvidia anticipates its chip sales volume will double by 2027.²

Market and financial context

According to CNBC, Nvidia shares had climbed 24% over the preceding 12 months and the company's market capitalization had reached $5.42 trillion. Calcalist noted that by Friday's close, Nvidia's stock had risen over 20% year-to-date, and the firm had projected around 70% revenue growth in fiscal 2028.²⁷

According to Reuters, Nvidia's stock was priced at 16.5 times projected earnings for the next year, its lowest valuation since January 2015 and far under its 15-year average ratio of 30. Calcalist reported that by the close of its July quarter, Nvidia held $22.44 billion in cash and equivalents, a total the outlet attributed to rising demand for AI training and inference work.⁶⁷

CNBC also cited an August projection from S&P Global Ratings that combined capital expenditure among hyperscale cloud computing firms could exceed $1.3 trillion by 2027. Financial-news.co.uk reported that Nvidia's net income per quarter climbed from $14.881 billion in Q4 2024 to $59.688 billion in Q3 2026, even as diluted earnings per share dropped from $5.98 to $0.67 across two consecutive quarters in 2024. The outlet further observed that bets against Nvidia had been declining ahead of the news, as its short-volume ratio dropped from 0.44 to 0.35, and pointed out that the 10-year US Treasury yield climbed to 5.18% on 24 September from an earlier 5.11%.²³