Record Data Sheet
NVIDIA has authorized an additional $150 billion for its share repurchase program, bringing the company’s remaining authorized repurchase capacity to $235 billion.
NVIDIA’s Board of Directors approved the increase on September 28, 2026. The company said it expects to execute the total remaining program through fiscal year 2028.
The $150 billion is not money NVIDIA has already spent. It is additional authorization allowing the company to repurchase its own common stock in the future.
What NVIDIA authorized
NVIDIA said its Board of Directors authorized an additional $150 billion under the company’s existing share repurchase program.
The increase brings the remaining amount authorized under the program to $235 billion.
NVIDIA expects to execute the total remaining program through fiscal year 2028. The company has not said that the $235 billion will be spent immediately or according to an equal annual schedule.
The distinction is important. A share repurchase authorization gives a company permission to buy back shares. It does not represent an immediate cash expenditure.
NVIDIA has already been buying back shares
The new authorization comes on top of repurchases NVIDIA has already made.
During the first half of fiscal 2027, NVIDIA repurchased approximately 203 million shares for $39.8 billion, according to its second-quarter Form 10-Q.
In the second quarter alone, NVIDIA repurchased approximately 94 million shares for $19.7 billion.
These are actual repurchases. The newly authorized $150 billion is a future spending capacity and should not be recorded as money already returned to shareholders.
The $150 billion authorization
NVIDIA’s September authorization follows an earlier increase approved by the Board in May 2026.
The latest increase takes the remaining authorization to $235 billion. NVIDIA described the $150 billion increase as the largest share repurchase authorization increase in its history.
The company has not committed to a specific amount of purchases for each year between now and fiscal 2028.
How NVIDIA can execute the repurchases
NVIDIA’s securities filings describe several methods through which the company can repurchase its shares.
These include open-market purchases, privately negotiated transactions, Rule 10b5-1 trading plans and structured share repurchase agreements that comply with applicable securities rules.
The company also states that the repurchase program may be suspended at any time.
The authorization therefore provides NVIDIA with flexibility over the timing and method of future purchases.
The cash generation behind the decision
NVIDIA’s announcement comes as the company continues to generate substantial cash from its business.
NVIDIA said its cash generation gives it the capacity both to invest in technologies advancing AI and accelerated computing and to return capital to shareholders.
The company is therefore describing the repurchase authorization as part of its broader capital allocation alongside continued investment in its technology business.
NVIDIA is also investing in AI infrastructure
The buyback authorization does not represent NVIDIA’s only use of capital.
In August 2026, NVIDIA announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR around financing platforms intended to mobilize more than $500 billion of third-party capital for AI infrastructure.
That $500 billion figure is not a $500 billion NVIDIA expenditure. It refers to third-party capital that the platforms are intended to mobilize.
The distinction is important when comparing the scale of NVIDIA’s own capital allocation with the broader investment being developed around AI infrastructure.
What the $150 billion actually means
The headline figure is $150 billion. The accounting reality is different.
NVIDIA has not reported a $150 billion cash expenditure associated with the September 28 announcement.
Instead, its Board authorized an additional $150 billion for future share repurchases.
The remaining authorization is now $235 billion, and NVIDIA expects to execute the remaining program through fiscal year 2028.
Actual purchases will appear separately in NVIDIA’s financial statements as the company executes them.
Why the distinction matters
A share repurchase authorization and an actual share repurchase are two different financial events.
The authorization establishes the amount the company is permitted to use for future purchases.
The expenditure occurs when NVIDIA actually buys shares.
That means the $150 billion should not be added to NVIDIA’s historical capital expenditure, cash expenditure or shareholder returns as though it had already been paid.
The $39.8 billion of repurchases reported for the first half of fiscal 2027, for example, represents actual purchases rather than authorization capacity.
The capital allocation picture
NVIDIA’s latest announcement puts a substantial amount of future capital behind share repurchases while the company continues to invest in its technology platforms and AI ecosystem.
The company says the remaining $235 billion authorization is expected to be executed through fiscal year 2028.
The announcement therefore creates two separate numbers to track: $150 billion of additional authorization and $235 billion of total remaining authorization.
Neither figure should be interpreted as an immediate $150 billion cash outflow.
Frequently Asked Questions
No. NVIDIA authorized an additional $150 billion for its existing share repurchase program. The authorization represents future repurchase capacity, not money already spent.
NVIDIA said the remaining authorized amount is $235 billion following the $150 billion increase.
NVIDIA repurchased approximately 203 million shares for $39.8 billion during the first half of fiscal 2027.
NVIDIA expects to execute the total remaining program through fiscal year 2028.
NVIDIA has not announced an immediate $150 billion expenditure or an equal annual schedule. The authorization allows future purchases under the company’s existing repurchase program.
Yes. NVIDIA’s filings state that the share repurchase program may be suspended at any time.
Sources
- NVIDIA, $150 Billion Share Repurchase Authorization Increase, September 28, 2026 https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-a-150-Billion-Share-Repurchase-Authorization-Increase/default.aspx
- NVIDIA, Second Quarter Fiscal 2027 Results, August 26, 2026
https://investor.nvidia.com/news/press-release-details/2026/NVIDIA-Announces-Financial-Results-for-Second-Quarter-Fiscal-2027/
- NVIDIA, Q2 Fiscal 2027 Form 10-Q
https://investor.nvidia.com/files/doc_financials/2027/NVDA-2027-Q2-10Q-Final-including-exhibits.pdf