Stocks
Nvidia Boosts Stock Buyback by Record $150 Billion
Nvidia has increased its stock buyback program by $150 billion, setting a record in the process. The chipmaker's total repurchase authorization now stands at $235 billion.
This move follows Nvidia's impressive August report, which showed quarterly sales of $96.2 billion and projected 70% revenue growth for its 2028 fiscal year.
Nvidia CEO Jensen Huang attributed the company's success to the AI shift, calling it 'once-in-a-generation' growth that allows both reinvestment in technology and returns to shareholders.