Nvidia boosts buyback plan by record $150B amid AI competition

Nvidia just committed to buying back more of its own stock than the GDP of most countries. The chipmaker authorized an additional $150 billion in share repurchases on September 28, bringing its total remaining buyback program to a staggering $235 billion. That’s not just a company record. It’s the largest single increase to a share repurchase authorization in corporate history. The previous record holder? Apple, which authorized $110 billion in buybacks back in 2024. Nvidia didn’t just break that ceiling, it obliterated it by roughly 36%. What Nvidia is actually doing The $150 billion addition builds on an $80 billion increase Nvidia already made in May 2026. The company plans to execute the full program through fiscal 2028, funded by what CEO Jensen Huang described as robust cash generation from AI and accelerated computing demand. “NVIDIA’s growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing.” Nvidia ended its July 2026 quarter sitting on $22.44 billion in cash and equivalents. The stock responded with a modest bump of roughly 2% to 2.8% on the day of the announcement. Investors were already in a good mood: Nvidia shares had climbed app...