Nvidia adds $150 billion to its buyback, lifting remaining authorization to $235 billion
The chipmaker says it expects to use the full remaining authorization through fiscal 2028, a signal of how much cash the AI hardware boom is throwing off.
By Tech CEO Daily Staff, Newsroom
· 3 min read
The news
Nvidia’s board has approved an additional $150 billion for share repurchases, the company announced on Monday, September 28. Combined with what was left under the existing program, Nvidia now has $235 billion authorized for buybacks.
The company said it expects to complete the total remaining program through fiscal year 2028. Nvidia described the move as the largest increase to a share repurchase authorization in history, a characterization repeated in coverage by Yahoo Finance and others.
Chief executive Jensen Huang tied the decision to the company’s cash generation, saying in the release that it gives Nvidia the capacity both to invest in new technology and to return capital to shareholders. The release did not include new revenue guidance or changes to the dividend.
Nvidia has already been buying back stock at a rapid clip. According to The Motley Fool, the company repurchased nearly $20 billion of shares in its most recent quarter. Using the full $235 billion over the roughly six quarters remaining through fiscal 2028 would imply a pace of more than $39 billion per quarter, the same analysis noted.
The numbers
- New authorization added
- $150 billion
- Total remaining authorization
- $235 billion
- Target completion
- Through fiscal 2028
- Buybacks in most recent quarter
- Nearly $20 billion (per The Motley Fool)
Why CEOs should care
For companies buying AI compute, this is a pricing signal. Nvidia is generating so much cash from GPU sales that it can commit a sum larger than most companies’ entire market value to buying its own stock. That is not the behavior of a supplier under pricing pressure. Procurement teams negotiating GPU capacity — directly or through cloud providers — should assume Nvidia’s leverage remains intact in the near term, and budget accordingly.
It also reframes vendor risk. A supplier this profitable is unlikely to disappear, which lowers counterparty risk for long-term platform bets on Nvidia’s software stack. But it also means the AI supply chain’s economics remain concentrated in one vendor, so diversification efforts (AMD, custom cloud chips) are about negotiating leverage as much as technology.
The bigger picture
Buybacks of this scale are usually associated with mature companies that have more cash than growth opportunities. Nvidia is signaling it can do both: keep funding its product roadmap and return enormous sums to shareholders. Investors will watch whether that confidence holds if hyperscaler capex growth slows.
What's next
The next data point will be Nvidia’s fiscal third-quarter report, which will show how much stock it actually repurchased and whether cash flow keeps pace with the new commitment.
Sources
- PrimaryNVIDIA Announces a $150 Billion Share Repurchase Authorization Increase— NVIDIA Newsroom
- ReportNvidia announces jaw-dropping $150 billion stock buyback, largest single authorization in history— Yahoo Finance
- ReportNvidia Just Announced the Largest Stock Buyback Authorization Increase in History— The Motley Fool
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