Nvidia Boosts Share Buybacks to Record $235 Billion

Nvidia's board has approved an increase in its share buyback plan by $150 billion, bringing the total to $235 billion. This is considered the largest-ever share buyback authorization for the company.

The move aims to return cash to investors and support the stock's price by reducing the number of shares outstanding. Earnings per share can increase as a result.

Nvidia's CEO, Jensen Huang, said that the company's growth is being driven by a 'once-in-a-generation platform shift' to AI and accelerated computing. He expressed confidence in the long-term opportunity ahead.

The stock has seen a 2.3% increase in morning trading on Monday, with shares up about 24% so far this year.