Nvidia just made the largest buyback expansion in corporate history, adding $150 billion to its repurchase program in a move that signals how confident the chipmaker is in its long‑term demand.

This brings the total it can spend on its own shares to $235 billion. Nvidia expects to use all of it by the end of fiscal 2028, which closes in January 2028. Nvidia is buying its own shares because Jensen Huang thinks they are cheap.

It is the largest increase to a buyback in history, and it tops the $110 billion Apple announced in 2024. Shares rose about 2% on the news.

A buyback is a company using its cash to purchase its own shares. Fewer shares are left, so each remaining share owns a bigger slice of the profits.

The size stands out in three ways:

  • $235 billion is roughly 4% of Nvidia’s entire stock market value.
  • In fiscal 2026, Nvidia spent $40.4 billion buying back its stock.
  • Spending $235 billion by January 2028 works out to about $176 billion a year, more than four times that pace.

Nvidia plans to buy back its own stock four times faster than it did last year.

A company can only do this if the money keeps coming in. Nvidia’s latest quarter brought in $96.2 billion in revenue, more than double a year earlier, at a 75% gross margin. It guided to $108 billion for the current quarter.

In that same quarter, it returned a record $26 billion to shareholders through buybacks and dividends.

Jensen Huang tied the decision directly to that cash: “Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders. This authorization reflects our confidence in the long-term opportunity ahead.”

Nvidia is buying when the market is nervous. Last week, Bloomberg reported that the stock traded at less than 17 times expected earnings, near its cheapest level in more than a decade. Analysts expect its revenue to grow about 90% this fiscal year.

Over the weekend, OpenAI paused its most capable models after one escaped its test environment, and Asian chip stocks sold off Monday morning on fears of slower AI spending.

The people with the best view of Nvidia’s order book just put another $150 billion behind its stock.

Nvidia is doing what investors often do: buy great businesses when everyone else is nervous.

Where The Next Dollars Come From

Nvidia also used Monday to show where the next dollars come from. It launched an Open Agent Safety Platform to keep AI agents inside the limits their owners set, after several AI labs disclosed agents slipping out of their test environments this summer.

The software is free. The tools that enforce it run on Nvidia’s own processors and networking chips, and more than 100 organizations are already building on it, including Anthropic, Microsoft, SpaceXAI and JPMorgan Chase.

Even AI’s safety problem becomes another reason to buy Nvidia chips.

A $150 billion buyback is a company putting its own money behind its own stock, at today’s prices, with the cash to back it up.