Nvidia adds $150 billion to its buyback, the largest authorization increase on record
Authorization is not execution, but the scale shows Nvidia claiming it can fund AI investment and shareholder returns at once; the peer contrast is worth watching.
Original event 2026-09-28
Nvidia's board has authorized a $150 billion increase to its share repurchase program, lifting the remaining total to $235 billion — the largest single authorization increase in history.
The company said the new amount sits on top of the existing program, with the remaining total expected to be executed through fiscal year 2028. CEO Jensen Huang said in the announcement that the company's cash generation lets it both invest in the AI transformation and return capital to shareholders.
The peer contrast sharpens the point: per Semafor, Alphabet bought back $45 billion of its stock in 2025 but none this year as it pours cash into AI, selling new shares instead. Note that an authorization is a ceiling, not spending — and Nvidia is simultaneously financing chip customers and guaranteeing data center leases for unprofitable labs.