17 Hrs
Source:
Sky News
Nvidia increases stock buyback to 150B
Nvidia announced an increase in its share buyback program by $150 billion, bringing the total authorized amount for repurchases to $235 billion, with plans to complete it by 2028. This announcement comes amid the company's strong performance driven by the AI boom, making it the most valuable company by market capitalization and causing its stock to rise by 20% since the beginning of the year. Revenue is also expected to grow by 70% in the upcoming fiscal year. The buyback decision reflects Nvidia's confidence in its future prospects, as the company utilizes its cash to support the stock price, reduce the number of shares outstanding, and increase earnings per share, sending a positive signal to investors about long-term growth prospects.
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