Nvidia Sets Record Share Buyback Amid AI Demand Surge
Nvidia has bolstered its share buyback authorization by $150 billion, surpassing Apple's record-breaking approval in 2024. This move lifts Nvidia's remaining buyback capacity to $235 billion, which it plans to use through fiscal 2028.
The company expects to fuel this repurchase program with cash generated from surging demand for AI training and inference. Shares of Nvidia were up 1.2% in premarket trading, following a roughly 50% slowdown in buybacks overall from July through September 23.
Nvidia's CEO, Jensen Huang, said in a statement, 'Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders.'
The company has forecast about 70% revenue growth for fiscal 2028, which some analysts see as reassuring investors who have questioned how long the AI spending surge can last.