Nvidia Unveils Record-Breaking Share Buyback Plan

Nvidia has announced its largest share repurchase authorization increase in history, authorizing an additional $150 billion to bring the remaining total to $235 billion.

The company's board of directors made this decision after Nvidia already completed nearly $20 billion in share repurchases in its most recent quarter.

This move has sent Nvidia stock up roughly 3% as of September 28, and the company expects to use all of this authorization through fiscal year 2028.

Nvidia's growth is being driven by a shift to AI and accelerated computing, according to CEO Jensen Huang, who said in a statement that 'NVIDIA's growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing.'

Investors are cautious about the stock, however, due to concerns that the company may face a slowdown in AI capital expenditures at some point.