Nvidia's Record $150 Billion Buyback Sends Shares Soaring

Nvidia has added $150 billion to its share repurchase authorization, making it the largest boost in history. The company's diluted share count fell only about 1% over the last year.

The news sent Nvidia shares up by around 2%, trading near $230. History suggests that big buyback authorizations are good for investors, with Apple and Nvidia stocks beating the S&P 500 in eight out of nine cases when their boards approved large buybacks.

Apple's biggest buyback authorizations from 2018 to 2025 were each followed by a gain in the stock over the next 12 months. In these eight instances, the stock beat the S&P 500.