Nvidia Doubles Down on Share Buybacks with Record-Breaking Boost

Nvidia has increased its share buyback program authorization by $150 billion, bringing the total to $235 billion. This marks the largest increase in history and is expected to be completed by fiscal year 2028.

The chip giant cited record spending on AI as a reason for the boost, with CEO Jensen Huang stating that the company's growth is driven by 'a once-in-a-generation platform shift to AI and accelerated computing.'

Nvidia has seen significant gains in recent years, with its shares climbing 24% over the past 12 months. The company's market cap now stands at $5.42 trillion.