Nvidia increases share repurchase by 150 billion
Nvidia is boosting its share buyback program by $150 billion, marking the largest increase ever, which raises the total program value to $235 billion through 2028, amid growing demand for AI chips. This move comes after Nvidia achieved record revenues of $96.2 billion in the second fiscal quarter, a 106% year-over-year increase, with the company also investing in startups and cloud computing providers to support the demand for its products. The strong demand for AI technologies has contributed to boosting the company's cash flows, while its outlook remains to grow revenues by approximately 70% through 2028.
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