Nvidia unveiled the largest share buyback in U.S. corporate history, approving a $150bn repurchase that tops Apple’s $110bn record and brings total authorization to $235bn through early 2028. The Silicon Valley chipmaker, valued at the top of the AI supply chain, posted a 1,200% share surge since Chat GPT’s 2022 launch, though 2026 gains have slowed to about 20%. Strong cash generation—nearly $100bn free cash flow last year, projected to triple to $329bn by fiscal 2028—fuels confidence in AI growth.

CEO Jensen Huang framed the move as a bet on a "once-in-a-generation platform shift" and a way to return capital as investors weigh sustainability of the AI boom. Competitors like OpenAI, Anthropic, SpaceX, and Google’s cloud unit remain major buyers, with Nvidia’s revenue expected to climb roughly 90% this year and net income more than doubling to $245bn. The record buyback follows a trend where large capital returns coincide with maturing growth phases, yet Nvidia’s sales continue to accelerate, underscoring its dominant position in the tech sector.