Nvidia Expands Buyback by $150B, Citing Long-Term AI Opportunities

Nvidia announced on Monday that its board has approved a $150 billion increase to its stock repurchase program, bringing total authorization to as much as $235 billion through January 2028. The move marks the largest buyback plan in U.S. corporate history.

CEO Jensen Huang said the new plan reflects the company's confidence in long-term opportunities in AI. He noted that the platform shift driven by AI and accelerated computing has fueled business growth, and that strong cash generation allows Nvidia to return capital to shareholders while continuing to invest in the technology transition.

The authorization surpasses Apple's $110 billion buyback announced in 2024. Nvidia remains a key supplier of AI chips used to power large language models such as ChatGPT, Claude and Gemini, and demand continues to outpace supply. Goldman Sachs forecasts global AI investment will exceed $1 trillion this year.

In the fiscal year that ended in January, Nvidia generated nearly $100 billion in free cash flow, with projections of $329 billion by fiscal 2028. Analysts expect net income to roughly double to $245 billion this fiscal year and reach $387 billion in the following fiscal year ending January 2028.