Nvidia Adds $150 Billion to Massive Stock Buyback, the Largest Ever

Nvidia said on Monday that it would spend another $150 billion buying back its own shares, adding to what it said was the largest repurchase in history, as the chip company continues to cash in on a global race to dominate artificial intelligence.The increase comes four months after the A.I.chipmaker’s board added $80 billion to the company’s buyback program, bringing the total remaining amount authorized to $235 billion.“Nvidia’s growth is being driven by a once-in-a-generation platform shift to A.I.

and accelerated computing,” Jensen Huang, Nvidia’s chief executive, said in a statement.“Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders,” he added.“This authorization reflects our confidence in the long-term opportunity ahead.”Nvidia’s announcement is the latest sign of the extraordinary flood of money into the markets being fueled by the A.I.

boom.A host of companies are rushing to build data centers and release new models, spending billions to get ahead.Share buybacks are viewed as a way to reward investors, including executives and employees, because they can potentially lift a company’s stock price by limiting the supply of its shares for sale.

But critics say the actions have only a marginal impact, if any, on the company’s stock price and instead take money away from potential investments in hiring, construction, or research and development.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....