Nvidia has authorized an additional $150 billion for its stock repurchase program, marking the largest share buyback commitment in the history of U.S. corporations. This move brings the chipmaker’s total authorized buyback capacity to $235 billion, surpassing the $110 billion record set by Apple in 2024. The company continues to generate massive cash flow from its dominant position in the artificial intelligence supply chain, fueling both shareholder returns and ongoing investments in the AI ecosystem.
Expansion of the Share Repurchase Program
On Monday, Nvidia’s board of directors approved the $150 billion increase to its capital return program. This follows a previous addition of $80 billion authorized just four months prior. According to company statements, the current authorization of $235 billion is expected to remain in effect through the end of fiscal year 2028. CEO Jensen Huang stated that the company’s ability to generate cash allows it to invest in technologies driving the AI transformation while simultaneously returning capital to shareholders.
Financial Performance and AI Market Position
Nvidia’s financial strategy is underpinned by record-breaking revenue, including $96.2 billion in sales for the quarter ending in July. The company has projected a 70% growth in revenue for fiscal year 2028, signaling confidence in the sustained demand for AI training and inference hardware. With a market capitalization exceeding $5.4 trillion, Nvidia remains the most valuable company globally. Despite a rapid 1,200% stock price increase following the release of ChatGPT in late 2022, the company’s share growth has tempered in 2026, rising approximately 19% year-to-date as investors scrutinize the long-term sustainability of AI infrastructure spending.
Investment Strategy and Ecosystem Support
Beyond share buybacks, Nvidia is actively deploying its balance sheet to support the AI sector through direct investments. The company’s portfolio currently includes stakes in 13 public companies and 229 private entities, with realized returns reported at more than three times the initial investment.
Nvidia’s investment strategy often targets cloud service providers and AI model developers, such as OpenAI. This practice has generated debate among some investors regarding whether such financing indirectly bolsters demand for the company’s own hardware. To further facilitate customer adoption of its technology, Nvidia announced last month that it will partner with Wall Street firms to partially guarantee financing for data center projects worth up to $500 billion.
Comparison of Corporate Buyback Records
| Company | Buyback Authorization Amount | Year of Announcement |
|---|---|---|
| Nvidia | $235 billion (total) | 2026 |
| Apple | $110 billion | 2024 |
Nvidia’s move emphasizes its current reliance on the AI boom to maintain liquidity, ending the July quarter with $22.44 billion in cash and cash equivalents. The company plans to continue utilizing excess free cash flow from its investments to fund further repurchases and support a gradually increasing dividend.
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