Nvidia Overtakes Apple in Buybacks and Dividends Amid AI-Driven Growth

Nvidia's aggressive buyback program is poised to make it surpass Apple in terms of stock repurchases and dividends, a prediction made earlier this month. The tech giant has authorized a $150 billion increase to its share repurchase program, bringing the total to $235 billion.

This move follows Apple's announcement on April 30th of an additional $100 billion authorization for its own buyback program. However, Nvidia is now growing its capital return program at a much faster rate than Apple.

According to Jensen Huang, CEO of Nvidia, the company's growth is driven by a 'once-in-a-generation platform shift to AI and accelerated computing.' The cash generated from this growth will be used to invest in technologies that advance this transformation and return capital to shareholders.