Nvidia Boosts Share Buyback Plan by Record $150 Billion

Nvidia's board has authorized an additional $150 billion for share buybacks, bringing its stock repurchase program to $235 billion. The company plans to execute this plan through its fiscal year ending on January 30, 2028.

The move reflects Nvidia's confidence in its long-term prospects and ability to return capital to shareholders. 'NVIDIA's growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing,' said Jensen Huang, Nvidia's founder and CEO.

Nvidia's high-end chips are in high demand due to their use in artificial intelligence applications. The company reported quarterly profits of $59.69 billion last month, and its stock has climbed 2.3% in morning trading on Monday.