Nvidia has authorized an additional $150 billion to its share buyback program, marking the largest stock buyback in history. The increase follows a move four months ago when the chipmaker added $80 billion to its buyback program, bringing the total remaining authorized amount to $235 billion.

"Nvidia's growth is being driven by a once-in-a-generation platform shift to A.I. and accelerated computing," said Jensen Huang, Nvidia's chief executive, in a statement. "Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders," he added. "This authorization reflects our confidence in the long-term opportunity ahead."

The chip maker's stock price has surged amid the A.I. boom. Nvidia's chips are central to giant A.I. data centers, and demand for those chips has become a barometer of growing demand for the technology. Other companies have been purchasing tens of billions of dollars worth of those chips, making Nvidia the most valuable public company in the world, with a market capitalization of about $5 trillion.

The buyback follows a company report last month that its revenue more than doubled to $96.22 billion for the quarter that ended in July. Three years ago, Nvidia's quarterly profit was $6.2 billion. In August, Nvidia projected revenue in the current quarter would increase 90 percent from a year ago to $108 billion, indicating the A.I. boom still has momentum.