Nvidia Board OKs $150B Share Repurchase Plan, Stocks Soar to New Heights

Nvidia Corp.'s (NASDAQ:NVDA) board of directors has approved an additional $150 billion share repurchase authorization.

This brings Nvidia's remaining buyback capacity to around $235 billion through fiscal 2028, a significant move that analysts believe could reduce the company's outstanding shares by about 4.2% and boost earnings per share by roughly 1.6% by 2028.

The news sent Nvidia stock soaring, with shares rising approximately 2% to $235.5 at midday on Friday after touching a record intraday high of $237.55. This pushed the company's market value to about $5.7 trillion.