Nvidia has announced a $150 billion increase to its share buyback program, a move that underscores the company's financial strength and its bet on continued AI-driven expansion. The announcement comes as Nvidia's stock has climbed 24% over the past 12 months, lifting its market capitalization to $5.42 trillion. Shares were up 0.84% in premarket trading on Monday following the news.
CEO Jensen Huang framed the buyback as part of a broader strategy tied to the company's growth. He noted that Nvidia's cash generation provides the capacity to invest in advancing AI and accelerated computing while also returning capital to shareholders. The authorization, he said, reflects confidence in the long-term opportunity ahead.
The move adds to Nvidia's already substantial capital return program, though the company did not specify a timeline for the additional repurchases. The announcement is breaking news, and further details may emerge as markets open.