Technology Shares Lower; Nvidia Boosts Buyback

Dow Jones05:21

Technology stocks were mostly lower Monday as traders took a risk off approach to start the week.

Nvidia, flush with cash from the artificial-intelligence boom, is launching the largest-ever U.S. stock buyback. The chip giant on Monday said its board had approved a $150 billion increase to the Santa Clara, Calif.-based company's share-repurchase program, bringing the total buyback authorization to $235 billion. The authorization eclipses the $110 billion stock buyback that Apple unveiled in May 2024 and comes just four months after Nvidia's board added $80 billion to the buyback program.

Nvidia launched a software platform to help developers test and deploy artificial-intelligence agents and keep them in a secure environment, ramping up efforts to contain the technology following a string of rogue incidents in recent months. The chip giant said its Nvidia Open Agent Safety Platform includes tools that let developers continuously monitor and govern AI behavior, ensuring agents follow the rules.

SpaceX's Starship entered orbit for the first time and deployed the latest version of its Starlink satellites, critical steps in the company's push for the experimental rocket to handle a range of missions. SpaceX launched Starship from a pad in Texas on Monday just before 9 a.m. Eastern time, according to the company's live feed.

 

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