Nvidia’s board increases chipmaker’s share buyback plan by $150 billion
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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Also reported by 3 other outlets
- Nvidia boosts share buyback by a record $150 billion financialpost.com
- Nvidia Boosts Share Buyback Authorization by $150 Billion bloomberg.com
- Nvidia share buyback plan gets $150 billion boost cnbc.com
