Nvidia Greenlights $150 Billion Buyback Top-Up, Toppling Apple's Record
Published on 09/29/2026 at 05:20 | Editorial boerse-global.de
Nvidia's board has authorized an additional $150 billion for share repurchases, a move that pushes the chipmaker's total remaining buyback authorization to $235 billion and vaults it past Apple's 2024 program of $110 billion. The company intends to deploy the funds through fiscal 2028, according to its own guidance.
The scale of the program — unprecedented on Wall Street — signals a shift in how the company is perceived: no longer merely a growth story, but a cash machine returning capital to shareholders at a pace that leaves even the largest technology peers trailing.
Shares Advance Against a Wobbly Tape
Investors greeted the announcement warmly on Monday, sending the stock up as much as 2.8% to €203.25. The gain came even as major indices sagged under pressure from rising interest rates and geopolitical worries, leaving the shares roughly 1.0% shy of their 52-week high of €205.25. One source put the day's advance at 2.0%, with the stock closing at €201.35 — a discrepancy likely reflecting different snapshot times during the session.
The relative strength speaks volumes: management is funneling its enormous cash inflow back to shareholders without delay.
A Valuation That Invites Repurchases
Timing matters, and Nvidia's looks shrewd. The stock's forward price-to-earnings ratio sits at roughly 16.5, according to Reuters — the lowest reading since January 2015 and well below the 15-year average of about 30. In other words, the company is buying back its own equity at a historically moderate valuation rather than chasing euphoric highs.
Should investors sell immediately? Or is it worth buying Nvidia?
That backdrop reinforces confidence in the operating environment. Jordan Klein, a technology sector specialist at Mizuho, read the move as a clear commitment to shareholder returns and a vote of confidence in the company's own worth. Jacob Bourne of research firm eMarketer told Reuters the step signals unabated demand for Nvidia's hardware and services.
The Cash Engine Behind the Decision
CEO Jensen Huang pointed to cash flows already generated and those expected ahead as justification. A company throwing off that much cash can afford to retire stock aggressively without starving future chip generations of investment.
Skeptics might argue that buybacks do nothing to stoke semiconductor demand and could divert funds from new growth areas. Nvidia's answer is that it can do both: it continues to plow money into its technology while rewarding loyal investors through a shrinking share count, which mechanically lifts earnings per share.
Beyond Buybacks: Infrastructure and Supply Chains
Capital returns are only part of the story. Nvidia is simultaneously pushing external partnerships. On September 21, it agreed to acquire an additional $1.5 billion of non-voting shares in SB Energy, according to Bloomberg, bringing its total financial commitment to the data center operator to $3 billion. The agreed purchase price equals 90% of SB Energy's IPO price. The move underscores the strategic importance of specialized infrastructure partners essential to operating and powering modern data center capacity.
On the software front, Nvidia announced a collaboration with Palantir Technologies to embed sovereign artificial intelligence into critical supply chains. The effort begins with Nvidia's own operations, with both companies aiming to make processes more resilient to external disruptions. For Nvidia, the circle closes: massive shareholder compensation, targeted infrastructure investment, and tighter protection of its own production networks.
What Lies Ahead
The 52-week high of €205.25 is within reach. Nvidia is leveraging its dominant market position not only to expand operating margins but also to practice exemplary capital discipline. For investors, the program should serve as a reliable support that can cushion market swings in the quarters ahead.
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