Nvidia Authorizes Record $150B Buyback as AI Cash Machine Grows

Nvidia has approved a record $150 billion increase to its share repurchase program, giving the AI chipmaker one of the largest buyback cushions ever authorized by a public company.

The new authorization lifts Nvidia’s remaining repurchase capacity to $235 billion, which the company expects to use through fiscal 2028. Nvidia called it the largest share-repurchase authorization increase in history.

The move adds another layer to the Nvidia story: the company is spending aggressively on AI infrastructure while simultaneously generating enough cash to return tens of billions to shareholders.

Nvidia’s Buyback Is Bigger Than Most S&P 500 Companies

The scale is unusual even by Big Tech standards.

Reuters noted that the $150 billion increase alone exceeds the market value of roughly 84% of S&P 500 companies. Nvidia shares rose more than 2% after the announcement before broader market pressure reduced the gain.

Nvidia had already spent $39.8 billion repurchasing shares during the first half of fiscal 2027, while another $6.3 billion went toward dividends.

That shareholder return comes alongside extraordinary operating growth. Fiscal Q2 revenue reached $96.2 billion, up 106% year over year, while Data Center revenue climbed 117% to $89 billion.

The results helped drive the recent NVDA stock rally after another major earnings beat.

Nvidia Is Spending and Returning Cash at the Same Time

The buyback is especially notable because Nvidia is also helping finance the wider AI buildout.

The company is working with major financial institutions to mobilize more than $500 billion for AI infrastructure, although lenders remain cautious about using GPUs as long-duration collateral. That tension is already visible in Wall Street’s scrutiny of Nvidia’s $500 billion financing push.