By Daniel Sparks, The Motley Fool
Publication Date: 2026-09-30 01:03:00
Nvidia (NASDAQ:NVDA) said on Monday, Sept. 28, that its board added $150 billion to the company’s share repurchase authorization, taking the amount left to $235 billion. The chipmaker called it the biggest boost to a buyback authorization in history. It beats the $110 billion Apple (NASDAQ:AAPL) approved in 2024.
Investors liked the news. Shares gained about 2% on Monday as I write, trading near $230.
Missed AI’s “Act 1”? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn’t buy Nvidia in 2005. But according to our analysts, we’re only at the end of “Act 1″—the R&D phase. “Act 2” is the global rollout. Continue »
And history suggests they might have reason to. Apple’s biggest buyback authorizations from 2018 through 2025 and Nvidia’s own increases from 2023 through 2025 were each followed by a gain in the stock over the next 12 months. In eight of these nine cases, the stock beat the S&P 500 (SNPINDEX:^GSPC).
But I think the cash behind those buybacks did more of that work than the buybacks themselves.
Image source Getty Images.
A record authorization
With around 24.1 billion shares outstanding, Nvidia is worth about $5.5 trillion at around $230 a share. The full $235 billion would buy back a bit over 4% of the company.
Nvidia expects to spend the total remaining amount through fiscal 2028, which ends in January 2028 — more than $40 billion…
