Nvidia boosts share buyback by a record $150 billion
The stock is up about 24 per cent so far this year
Nvidia's board has authorized the chipmaker to increase its share buyback plan by an additional $150 billion. This decision comes as the company capitalizes on its strong revenue growth driven by the demand for its high-end artificial intelligence chips. The company expects to execute the share buyback plan during its fiscal year ending January 30, 2028.
Nvidia's founder and CEO, Jensen Huang, stated that the company's financial capacity to invest in advancements in AI and accelerated computing, as well as return capital to shareholders, has been bolstered by its robust cash generation. Shares of Nvidia rose by 2.3% in early trading on Monday, marking a 24% gain so far this year.
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