NVIDIA Gains Favor with Major Investor Amid Record Buyback Plans
NVIDIA Corporation (NASDAQ:NVDA) has caught the attention of Arrowroot Family Office LLC, which raised its stake in the computer hardware maker by 69.2% in the second quarter. The fund now owns 10,375 shares of NVIDIA's stock after buying an additional 4,245 shares during the quarter.
Arrowroot Family Office LLC's holdings in NVIDIA comprise about 0.6% of its portfolio, making it the company's 27th largest holding. The stock is valued at $2,076,000 as of its most recent filing with the SEC.
NVIDIA has been in the news recently for various reasons. The company strengthened its case for massive stock price upside after announcing a record buyback signal and confidence in earnings per share. NVIDIA authorized an additional $150 billion in share repurchases, bringing the remaining program to $235 billion through fiscal 2028, the largest increase in its history.
Additionally, Chinese officials have reportedly asked ByteDance and Alibaba to outline potential purchases of NVIDIA's RTX PRO 5500 processors, suggesting Beijing may permit selected companies to buy some NVIDIA chips despite U.S. export restrictions.