Nvidia’s board increases chipmaker’s share buyback plan by $150b

Nvidia’s board has cleared the way for the company to spend US$150 billion more in share buybacks as the chipmaking giant looks to make use of more of its stellar revenue growth fuelled by demand for its high-end artificial intelligence chips. The Santa Clara, California company said Monday the share buyback increase, which it touted as the largest ever, brings its stock repurchase programme to US$235 billion. Nvidia said it expects to “execute” the share buyback plan through its fiscal year that ends in January 30, 2028.