Nvidia has approved a record $150 billion increase to its share-repurchase program, bringing total authorization to $235 billion. The Santa Clara, Calif.-based company, flush with cash from the AI boom, now holds the largest buyback plan in U.S. history, surpassing Apple’s $110 billion unveiled in May 2024. Just four months ago, Nvidia added $80 billion to its buyback.

With a market cap exceeding $5.4 trillion, Nvidia dominates the market as the world’s largest designer and supplier of graphics processing units and specialized hardware for AI data centers. CEO Jensen Huang stated the buyback reflects confidence in a once-in-a-generation platform shift to AI and accelerated computing. The announcement follows record sales of $96.2 billion for the quarter ended in July, with expectations of 70% revenue growth in fiscal 2028.

Nvidia is also making direct investments in startups, including cloud-computing providers and AI-model developers like Open AI. Its investment portfolio includes 13 public and 229 private companies, with returns exceeding three times invested capital. The company plans to return excess free cash flow via share repurchases and a gradually growing dividend.

Additionally, Nvidia is backing AI-financing deals, including a partnership to partially guarantee up to $500 billion in data-center financing and supporting Open AI’s Ohio project. CFO Colette Kress emphasized Nvidia’s role in powering the AI ecosystem through long-term lease agreements totaling around $20 billion. Separately, Nvidia launched the Nvidia Open Agent Safety Platform to help developers test and deploy AI agents securely, amid rising concerns about AI safety and recent rogue incidents prompting calls for slower development from figures like Sam Altman, Dario Amodei, and Elon Musk.