Nvidia share buyback plan gets $150 billion boost

Nvidia said Monday it has authorized an additional $150 billion to its share buyback program, taking its total to $235 billion, amid record spending on AI. The chip giant said it marks the largest share repurchase authorization increase in history. It expects to complete the total remaining buyback program through the fiscal year 2028. Nvidia produces the most advanced chips used for AI and has been a huge beneficiary of the boom in spending on the infrastructure needed to power the tech. Nvidia's shares have climbed 24% over the past 12 months, lifting the company's market cap to $5.42 trillion. The stock was up 1.24% in premarket trading on Monday.