Nvidia, Flush With Cash, Sets Record With Stock Move

Nvidia just logged a financial milestone in its AI-fueled rise: The chipmaker on Monday added another $150 billion to its stock buyback plan, the largest-ever increase to a stock-repurchase program, reports Reuters. The move lifts its total repurchase authorization to $235 billion, notes the Wall Street Journal.

Monday's increase follows Nvidia's blowout August report, which showed quarterly sales of $96.2 billion and projected 70% revenue growth for its 2028 fiscal year. CEO Jensen Huang said the AI shift is driving "once-in-a-generation" growth and that booming cash flow lets Nvidia both reinvest in technology and return money to shareholders. The company, now valued above $5.4 trillion, has also been lining up big financing deals, including up to $500 billion in data-center funding and support for OpenAI's planned facility in Ohio.