Key Insights:
- NVIDIA stock gets a buyback boost: The chipmaker added $150 billion to its repurchase program, taking the remaining authorization to a record $235 billion through fiscal 2028.
- The new authorization more than doubles Apple’s $110 billion buyback announced in 2024.
- NVDA stock edges higher: Nvidia shares traded around $226.97 premarket on September 28, up 0.84% from the previous close.
On September 28, Nvidia stock rose in premarket trading following the chipmaker’s approval of a new $150 billion in share repurchases, bringing total repurchases authorized to $235 billion through FY28.
NVIDIA stock price rose 0.84 percent in premarket trading to $226.97 on Google Finance, compared with the close on Sept. 25 of $225.07.
The announcement is a bold one, even by Nvidia’s standards. The recent approval hike is the highest ever, the company said. It also helps Nvidia to surpass Apple’s $110 billion share repurchase authorization from May 2024.
The announcement adds a capital-return element to an investment story that’s been focused mainly on AI and supercharged computing for Nvidia stock.
NVIDIA Stock Gets a $235 Billion Signal
NVIDIA’s board approved an additional $150 billion under its existing repurchase program, leaving the company with $235 billion of authorization still available. NVIDIA expects to execute that remaining program through fiscal 2028.
The distinction matters. A buyback authorization is not the same as the $235 billion already spent. It gives the company the ability to repurchase shares under the program, with actual purchases subject to the company’s execution decisions and market conditions.
NVIDIA has already been using its authorization. Its latest SEC filing showed that it repurchased 94 million shares for $19.7 billion during the second quarter of fiscal 2027 and 203 million shares for $39.8 billion during the first half.
That history gives the new authorization some context. The latest increase is considerably larger than the amounts Nvidia had previously committed to individual additions. For Nvidia stock, the practical question is how aggressively the company uses that authorization to execute repurchases.
NVIDIA Stock and the Apple Comparison
Apple established the benchmark for the current comparison when its board approved an additional $110 billion share repurchase program in May 2024. Apple later used the final $19.8 billion under that program during fiscal 2025.
NVIDIA’s new $150 billion addition is therefore larger than Apple’s entire 2024 authorization. More importantly, Nvidia still has $235 billion in remaining authorization after the latest increase.
That changes the scale of the capital-return discussion around Nvidia stock. Chief Executive Jensen Huang linked the decision to Nvidia’s cash generation and expansion in AI and accelerated computing.
“Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders,” Huang said in the company’s September 28 announcement.
The Bigger NVDA Story
The buyback arrives as Nvidia faces several other developments that have kept the company at the center of the AI infrastructure market.
The Coin Republic reported on September 28 that Chinese authorities had reportedly sought information from domestic technology companies about potential purchases of Nvidia’s RTX Pro 5500 chips.
ByteDance was reportedly considering an order of about 1 million chips, although China had not publicly confirmed the approvals described in the report. NVIDIA’s September-quarter outlook also excluded China data center compute revenue.
NVIDIA CEO Jensen Huang was also expected to be among the technology executives attending the September 24 White House state dinner between President Donald Trump and Chinese President Xi Jinping, according to a recent report.
Then there is Nscale, an Nvidia-backed AI infrastructure company that filed for a New York Stock Exchange listing on September 18. Its filing showed $103.4 billion in active and contracted total contract value, alongside an Nvidia financing commitment of up to $1 billion through convertible securities.
For Nvidia stock, the size of that authorization places shareholder returns alongside AI infrastructure demand, overseas market access, and the expanding network of companies building around Nvidia’s technology.
The stock’s premarket move was modest compared with the size of the headline. At $226.97, Nvidia remained below its 52-week high of $236.54, according to Google Finance.
This article is for informational purposes only and does not constitute financial or investment advice. Share-repurchase authorizations do not guarantee future purchases.
