NVIDIA’s remaining buyback authority rises to $235 billion
NVIDIA’s board added $150 billion to its existing share repurchase authority, lifting the amount still available to $235 billion. The company expects to carry out the program through fiscal 2028. Authorization does not mean those shares have already been purchased: the volume and timing of actual buybacks depend on later decisions. The move expands capacity for shareholder returns while NVIDIA continues investing in AI.
Economics & Markets··Evening
The new authority lifts the remaining amount to $235 billion
NVIDIA’s board expanded its existing share repurchase authority by $150 billion. Cinco Días and Reuters both report that the decision lifted the remaining unused authority to $235 billion. The company expects to carry out the program through fiscal 2028; the board decision does not mean shares worth that amount have already been bought. It expands the scope for purchases that management may make later, with the actual amount and timing determined by subsequent transactions. Reuters says the additional authority exceeds Apple’s $110 billion increase in 2024. NVIDIA shares rose before the market opened after the announcement, but that short-term price move is separate from execution of the buyback.[1], [2]
Earlier purchases are separate from the new authority
According to company figures reported by Cinco Días, NVIDIA returned about $25.78 billion to shareholders through repurchases and cash dividends in the second fiscal quarter that ended in July. Share purchases made between May and July accounted for $19.732 billion of that amount. Roughly $99 billion of authority remained under the earlier program at quarter end. These figures describe transactions already completed, whereas the additional $150 billion announced on September 28 permits future purchases. Chief executive Jensen Huang said the company’s cash generation leaves room for both AI investment and shareholder returns. That is management’s assessment of its capacity to pursue both uses of cash, not a timetable guaranteeing later repurchases.[1]
The pace of purchases remains a later decision
The company cites demand for AI products as a reason for growth while also using cash to invest in customers and partners. Cinco Días reports that Bloomberg Intelligence analysts pointed to free cash flow and liquidity as support for the larger authorization. Reuters notes that investors continue to question how long the present pace of growth can last. Raising the ceiling of a shareholder-return program does not remove that value of stock from the market at once. Purchases completed in the previous quarter and permission granted for coming fiscal years are different events in the same program. In August, NVIDIA forecast 70 percent sales growth in the next fiscal year. The company also continues to commit capital to customers and partners. The amount management actually buys, and when it buys, will be visible only in later disclosures and transactions.[1], [2]
