Nvidia Amid record spending on AI, the company announced Monday that it has approved an additional $150 billion for its stock repurchase program, bringing the total to $235 billion.
The semiconductor giant said this would be the largest increase in share buyback approvals in its history. The remaining purchase program is expected to be fully completed by fiscal year 2028.
Nvidia makes cutting-edge chips used in AI and has benefited greatly from the boom in spending on the infrastructure needed to power this technology.
nvidia stock
Nvidia stock has risen 24% over the past 12 months, giving the company a market capitalization of $5.42 trillion. Shares rose 0.84% in pre-market trading on Monday.
“NVIDIA’s growth is driven by a once-in-a-generation platform transition to AI and accelerated computing,” CEO Jensen Huang said in a statement.
“Our cash generation gives us the ability to invest in the technologies that will drive this transformation and return capital to our shareholders,” he added. “This approval reflects our confidence in the long-term opportunities ahead.”
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