Nvidia Stock Surges on Record-Breaking Share Buyback Boost

Nvidia's shares jumped 2.7% in morning trading after the company authorized an additional $150 billion for its share buyback program, bringing the total authorization to $235 billion.

This is reportedly the largest share-repurchase authorization boost in history, according to CNBC.

Nvidia CEO Jensen Huang stated that the company's growth is being driven by a 'once-in-a-generation platform shift to AI and accelerated computing,' and that strong cash generation allows Nvidia to invest in this buildout while returning capital to shareholders.

Huang also referred to the AI infrastructure cycle as the largest buildout in human history, and said Nvidia plans to return more cash to shareholders as it generates it.