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Nvidia Adds a Record $150 Billion to Its Buyback Authorization
Nvidia’s board approved a $150 billion increase to its share repurchase authorization, bringing the remaining amount to $235 billion. The company expects to carry out the program through fiscal 2028 as it balances shareholder returns with i
AI.info Team · Written with AI · fact-checked ·
Nvidia’s board has added $150 billion to the company’s share repurchase authorization, lifting the remaining amount available for buybacks to $235 billion. The company called the increase the largest of its kind in history and said it expects to carry out the remaining program through fiscal 2028. The September 28 decision expands the pool of capital Nvidia can return to shareholders; it does not specify a schedule for purchases.
A $150 Billion Increase, Not a Purchase Schedule
The distinction matters: Nvidia has authorized additional repurchases, but its announcement does not say that it will spend the full $150 billion immediately. The company says it expects to execute the total remaining program through fiscal 2028, leaving the pace and timing of individual purchases unspecified. The headline figure describes new authorization, not shares already bought.
Jensen Huang, Nvidia’s founder and chief executive, framed the move as part of a two-track use of the company’s cash: investment in technology and returns to shareholders.
“Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders.”
Jensen Huang, founder and CEO of NVIDIA
The Board’s New Ceiling Replaces a $99 Billion Baseline
Nvidia’s most recent quarterly results give a sense of the scale behind the decision. In its August 26 report for the quarter ended July 26, the company reported $96.2 billion in revenue, including $89.0 billion from its Data Center business. It also had approximately $99.0 billion left under its repurchase authorization at quarter-end.
For that quarter, Nvidia returned about $26.0 billion to shareholders through a combination of share repurchases and cash dividends. The release did not split that total between the two forms of return. The new authorization raises the remaining amount to $235 billion, while the company’s stated execution horizon stretches through fiscal 2028.
AI Spending and Shareholder Returns Share the Cash
Huang’s statement puts the buyback alongside continued spending on technology, rather than presenting it as a replacement for investment. Cash generation gives it capacity to pursue both, Nvidia says. That choice is particularly relevant for a company whose quarterly results show the weight of Data Center sales, but the announcement offers no allocation between future product investment and repurchases.
For investors, the authorization signals that Nvidia’s board is prepared to devote substantial sums to share repurchases over the coming years. The eventual effect on shareholders will depend on how much Nvidia buys, when it buys, and how those purchases compare with its other uses of cash. The company has set out the authorization and broad timetable, but not a quarterly buying plan.
How Much of the $235 Billion Will Nvidia Use?
The board’s approval gives Nvidia room to return more capital while its AI-computing business drives substantial revenue. It does not, by itself, establish that the entire authorized amount will be spent. The company’s stated endpoint is fiscal 2028; the concrete measure to watch is the amount actually repurchased and reported over the quarters ahead.
How quickly will Nvidia use the expanded authorization, and how will its repurchases sit alongside investments in future technology?