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Nvidia’s board on Monday, September 28, 2026 authorized a $150 billion increase to its share-repurchase program — the largest buyback announcement in US corporate history.
What happened
The $150 billion increase brings Nvidia’s total remaining buyback authorization to $235 billion. The prior US record was Apple’s $110 billion authorization in May 2024, per Birinyi Associates data cited by MarketWatch.
- $150 billion — the new buyback authorization
- $235 billion — total remaining buyback authorization
- $110 billion — Apple’s May 2024 authorization, the previous US record (Birinyi Associates via MarketWatch)
- Fiscal 2028 (ends January 2028) — Nvidia’s stated timeline for executing on the remaining authorization
CEO Jensen Huang said in the company’s release: “Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders,” adding, “This authorization reflects our confidence in the long-term opportunity ahead.”
The news landed on a morning when chip stocks were falling in premarket trading after OpenAI said it would pause training of some advanced AI models, per Barron’s. Nvidia reversed its early losses and traded up about 1% in the premarket after the buyback announcement.
Why it matters
Few companies could announce a $150 billion buyback and still fund frontier AI capex in the same breath. The authorization signals Nvidia believes its cash generation comfortably covers both — a flex only the cash-richest of big tech can make.
The EPS math is straightforward: repurchases shrink the share count, supporting earnings per share even if growth moderates. It is capital returned directly to shareholders rather than cash sitting idle.
The timing was deliberate. Landing amid an AI-safety selloff in chip stocks, a record buyback is management’s loudest possible confidence signal — a counter to the bears that no ordinary press release could match.
What to watch
Execution pace comes first: Nvidia intends to work through the remaining authorization by the end of fiscal 2028, but timing and market conditions will decide how quickly the $235 billion actually gets deployed.
Then the balance question. Every dollar returned is a dollar not spent on capacity or R&D — watch whether AI investment intensity stays intact alongside the buyback.
And don’t ignore the China overhang: Beijing is reportedly considering approvals for Nvidia’s RTX Pro 5500 chip sales, and that decision feeds directly into the cash flows behind this program.
Related reading: Nvidia Launches Open Agent Safety Platform, Says It Could Have Stopped Hugging Face Hack
Sources:
https://www.reuters.com/business/nvidia-adds-150-billion-existing-share-repurchase-plan-2026-09-28/
https://www.marketwatch.com/story/nvidia-makes-a-statement-with-historic-150-billion-buyback-announcement-bfab5a22
https://www.barrons.com/articles/nvidia-stock-buyback-price-d5af1589Auto-posted by the Bull Lounge news desk.
Not financial advice.
Here’s the debate for the comments: is a $235 billion buyback the best use of Nvidia’s cash, or should more of it be going into capex and R&D to widen the AI lead? Sound off below.
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