jigglyp
09-28 22:40

$NVIDIA(NVDA)$ The board has approved a $150B increase to the company's share-repurchase program, bringing the total buyback authorization to $235B.

That eclipses the $110B stock buyback $Apple(AAPL)$  unveiled in May 2024, and comes just 4 months after Nvidia's board added $80B to its buyback program.

Nvidia said in a Monday presentation that its investment portfolio includes 13 public companies and 229 private companies, and that its return on investment for exits is greater than 3x the amount it put in.

Nvidia plans to return excess FCF from those investments in the form of share repurchases and a gradually growing dividend.

Nvidia also said it would partner with Wall Street firms and partially guarantee up to $500B in data-center financing to better help its customers afford its chips. Nvidia also agreed to backstop OpenAI's data-center project in Ohio.

The AI industry is growing so quickly that Nvidia said its support is required to help fast-growing companies access capital.

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