NVIDIA Stock Skyrockets on Record-Breaking Share Repurchase Authorization
NVIDIA's stock price rose in premarket trading after the company added $150 billion to its share repurchase program, bringing the total authorization to a record $235 billion through fiscal 2028.
The new authorization more than doubles Apple's $110 billion buyback announced in 2024. NVIDIA CEO Jensen Huang linked the decision to the company's cash generation and expansion in AI and accelerated computing.
'Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders,' Huang said in a statement.
The buyback comes as NVIDIA faces several developments, including reports of Chinese authorities seeking information from domestic technology companies about potential purchases of NVIDIA's RTX Pro 5500 chips, valued at around $1 million.