Nvidia adds $150 billion to existing share repurchase plan
Nvidia has emerged as one of the biggest beneficiaries of the AI boom, with demand for its pricey chips and related technology powering rapid revenue growth.
On September 28, Nvidia announced an unprecedented expansion of its share repurchase plan, committing an additional $150 billion to buy back shares. This marks the largest increase in authorization for a stock repurchase plan in company history. The Santa Clara, California-based technology giant reported a 1.7% rise in its stock price during premarket trading following the announcement.
Nvidia has been a leading beneficiary of the ongoing artificial intelligence (AI) revolution. The company's high-performance chips and associated technologies have fueled its rapid revenue growth. This monumental authorization brings the total amount of shares the company has pledged to repurchase through fiscal year 2028 to $235 billion. CEO Jensen Huang attributed this growth to a once-in-a-generation shift towards AI and accelerated computing.
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