Nvidia’s board has authorized an additional $150 billion in share repurchases, the Nvidia $150 billion buyback that Reuters says is the largest buyback authorization in US corporate history. The announcement came on Monday, September 28, 2026.
The authorization eclipses Apple’s $110 billion buyback announced in May 2024, previously the largest on record, according to Reuters reporting via CNA. MarketWatch also flagged the move as the largest US buyback authorization on record, citing Birinyi Associates data.
Nvidia $150 Billion Buyback: The Details
With the new authorization, Nvidia now has $235 billion in total remaining buyback capacity, which will be executed through fiscal 2028 (ending January 2028), Reuters reported.
Shares rose about 2% on the news, a modest pop that still signals investor approval of management’s capital-return commitment.
Jensen Huang: “Confidence in the Long-Term Opportunity”
CEO Jensen Huang tied the authorization to the company’s long-run outlook. “This authorization reflects our confidence in the long-term opportunity ahead,” Huang said in the company’s release announcing the buyback.
The announcement landed the same day Nvidia unveiled its Open Agent Safety Platform, underscoring a busy Monday for the AI chip giant on both the financial and product fronts.
Why Nvidia Is Buying Back Shares Now
The Nvidia $150 billion buyback arrives at an unusual moment: the stock is cheap by its own historical standards. Nvidia trades at around 16.5 times 12-month forward earnings — its lowest multiple since January 2015, per LSEG data cited by Reuters.
Shares are up just about 20% in 2026, trailing AI-adjacent peers badly — AMD has roughly doubled this year and Intel has roughly tripled, Reuters reported. The muted rally reflects mounting worries about AI chip competition weighing on Nvidia’s performance.
In that context, the record buyback reads as management’s answer to the skeptics: a $150 billion vote of confidence that the market is undervaluing the world’s most important AI chip company.
How a Share Buyback Works — and Why $150B Matters
In a share repurchase, a company buys its own stock on the open market and retires or holds those shares. Fewer shares outstanding means earnings per share rise even if profits are flat, and the buying itself can support the stock price. Companies typically launch big buybacks when they have strong cash flows and believe their shares are undervalued — both of which the Nvidia $150 billion buyback signals.
The scale here is hard to overstate. At $150 billion, a single authorization is worth more than the entire market capitalization of most S&P 500 companies. It is also a message to Wall Street: even as investors fret about AI chip competition, Nvidia’s board is willing to bet the company’s own cash on the stock.
The Competition Weighing on the Stock
Reuters noted that AI chip competition is weighing on Nvidia’s stock performance. While Nvidia remains the dominant supplier of the GPUs powering the AI boom, AMD has roughly doubled in 2026 and Intel has roughly tripled — a dramatic re-rating of rivals that has left Nvidia, up just 20%, looking like the laggard of the AI trade it created.
That divergence helps explain the timing. With the stock at its lowest forward multiple in more than a decade, management appears to view the shares as a bargain — and is putting $150 billion behind that view.
What This Means for Investors
Large buybacks reduce the number of shares outstanding, which can boost earnings per share and signal that management believes the stock is undervalued. At $150 billion — a sum larger than the market capitalization of most S&P 500 companies — Nvidia’s program is operating on a scale no US company has attempted before.
Investors will now watch how aggressively Nvidia actually repurchases shares through fiscal 2028, and whether the AI growth story reaccelerates enough to justify management’s confidence. The buyback announcement came on the same day broader markets sold off as Treasury yields hit a 2007 high, making Nvidia’s show of confidence a notable counterpoint to the day’s risk-off mood.
Wall Street’s reaction was positive but measured — a 2% gain on a day when the broader market sold off suggests investors welcomed the move without treating it as a game-changer for the stock’s 2026 trajectory. The real test will be execution: how aggressively Nvidia actually repurchases shares through fiscal 2028, and whether AI demand reaccelerates enough to close the valuation gap with its rivals.
Frequently Asked Questions
Is Nvidia’s $150B buyback really the biggest ever?
Yes. According to Reuters, the Nvidia $150 billion buyback authorization is the largest in US corporate history, eclipsing Apple’s $110 billion authorization from May 2024. MarketWatch, citing Birinyi data, also called it the largest US authorization on record.
How much can Nvidia buy back in total now?
Nvidia’s total remaining buyback capacity is now $235 billion, to be executed through fiscal 2028, which ends in January 2028.
Why did Nvidia announce the buyback?
CEO Jensen Huang said “this authorization reflects our confidence in the long-term opportunity ahead.” The stock trades at about 16.5x forward earnings — its lowest multiple since January 2015 — and has lagged AMD and Intel in 2026.
How did Nvidia’s stock react?
Shares rose about 2% on the September 28 announcement of the record buyback.
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