Updated version 2 - As the AI boom drives growth, Nvidia expands its stock buyback scale to a record 150 billions dollars.

Updated the stock price data in the third paragraph and added charts and background information throughout the article.

Reuters, September 28 - Nvidia (NVDA.O) has increased its stock buyback authorization by $150 billion, surpassing Apple’s (AAPL.O) $110 billion increase in 2024 and setting a record for the largest stock buyback increment ever.

This increase brings Nvidia’s remaining buyback authorization to $235 billion, and the company expects to use these funds by fiscal year 2028, as surging demand for AI training and inference continues to boost cash flow.

Shares of the Santa Clara, California-based Nvidia rose 0.8% in premarket trading, having earlier climbed as much as 1.8%. As of Friday’s close, the stock has gained more than 20% so far this year.

“Our cash flow gives us the capability to invest in the technologies driving this transformation and return capital to shareholders,” CEO Jensen Huang said.

Last month, Nvidia predicted that fiscal 2028 revenue would increase by about 70% (link), reassuring investors who had questioned how long the AI spending boom could last after several years of explosive growth.

The company has also been investing in AI startups and cloud service providers, prompting some investors to question whether such investments are indirectly supporting demand for its own chips.

At the end of the July quarter, Nvidia had a balance of $22.44 billion in cash and cash equivalents.

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