Nvidia approved an additional $150 billion share buyback limit, expanding its repurchase programme to its biggest ever and reinforcing shareholder returns. The decision increases Nvidia’s remaining share buyback capacity to $235 billion.

On Sept. 28, Reuters and Business Insider reported that Nvidia’s board approved an additional $150 billion for its existing share buyback programme. The additional authorisation exceeds the $110 billion approved by Apple in 2024, marking the largest increase ever for a single share buyback programme. Nvidia expected to deploy the remaining capacity through fiscal 2028.

Nvidia has moved to return capital to shareholders as its cash generation expands amid rising demand for artificial intelligence training and inference. In an interview with CNBC right after the announcement, Chief Executive Jensen Huang (젠슨 황) said, "We think we are going through the greatest infrastructure buildout in human history," adding, "Nvidia has the advantage of being a central part of it."

Huang also said, "We are generating a lot of cash, and we will generate a lot of cash in the coming years," adding, "As we generate more cash every year, we want to return it to shareholders." Nvidia plans to use its cash generation both for investment in AI technology and shareholder returns.

Nvidia’s decision is seen as reflecting the company’s confidence in rising semiconductor demand and cash generation as AI infrastructure buildouts expand. Nvidia last month forecast fiscal 2028 revenue to rise by about 70 percent. It presented its growth outlook as questions are raised in the market over whether enthusiasm for AI investment can last for an extended period.

Nvidia held $22.44 billion in cash and cash equivalents as of the end of the July quarter. It is also investing in AI startups and cloud companies, and some investors are watching whether such investments indirectly support demand for Nvidia semiconductors.

The market also reacted to the announcement. Nvidia shares rose in premarket trading on Sept. 28 and climbed more than 2 percent during the session. Nvidia shares have risen more than 20 percent this year as of the Sept. 25 close.