Nvidia said its board approved an additional $150 billion for share repurchases, lifting the total remaining buyback authorization to $235 billion and setting a U.S. corporate record for a single increase.
The move tops Apple’s $110 billion buyback authorization set in 2024. Nvidia said it plans to use the full remaining amount by the end of fiscal 2028, which runs through late January 2028.
Shares rose 2.7% in morning trading to $231.08, moving closer to the company’s record close of $235.74 on May 14. Nvidia’s market value stood at $5.42 trillion at Friday’s close.
Chief Executive Jensen Huang said in a statement that Nvidia’s growth is being driven by a generational shift to artificial intelligence and accelerated computing. He said the company can invest in the technology while also returning capital to shareholders through its cash generation.
