Nvidia adds $150bn to its buyback authorization, taking the remaining program to $235bn

Nvidia's press release, datelined Santa Clara, 28 September, says the board approved an additional $150bn for share repurchases, that the total remaining authorization is $235bn, and that the company expects to execute it through fiscal year 2028. Both figures are in the company's own document, which is the distinction that matters: the issuing organisation saying it, not an outlet reporting it.

What the release does not do is commit Nvidia to spending $235bn. A repurchase authorization is a ceiling a board grants management — revocable, open-ended in practice, and routinely left partly unused for years. The release gives a horizon, but an expectation a company states about its own future conduct is a claim, not a contract. Readers who have watched this site separate contract ceilings from revenue should apply exactly the same discipline here. Nothing disclosed in this release has been bought.

For scale: Nvidia's last close before the announcement was $225.07 on Friday, at a market capitalisation of $5.435trn. The remaining authorization is therefore about 4.3% of the company's equity value at that price — large in absolute dollars, unremarkable as a proportion. That arithmetic is ours, from a quoted market cap, not Nvidia's.

Jensen Huang's quote ties the authorization to cash generation rather than to a view on the share price. One caution on framing: at least one market brief called this the largest repurchase any US company has announced. Nvidia's release, read twice on two hosts, does not say that, and we have not verified it against any ranking, so it is not carried here. A full-text search of 8-Ks filed 26–28 September did not return Nvidia, so as of this morning the press release is the only company document we have seen.

• Confirmed Nvidia's board approved a $150bn increase to its share repurchase authorization, taking the total remaining authorization to $235bn. NVIDIA Newsroom
• Confirmed Nvidia “expects to execute the total remaining program through fiscal year 2028”. GlobeNewswire
• Reported Nvidia's last close before the announcement was $225.07 on 25 September, at a market capitalisation of $5.435trn. Yahoo Finance