Nvidia added $150 billion to its buyback authorization on Sept. 28, taking remaining capacity to $235 billion. Management expects to execute the remaining program through fiscal 2028; the authorization adds capacity, not completed purchases.
Nvidia repurchased $39.8 billion of shares in the first half of fiscal 2027, up from $24.2 billion a year earlier, after approving an $80 billion increase in May. In the latest quarter, sales rose 106% year over year to $96.2 billion, including $89 billion in Data Center revenue, up 117%; its next-quarter sales forecast was $108 billion, plus or minus 2%, assuming no Data Center compute revenue from China.
The new authorization is about 2.7% of Nvidia’s roughly $5.5 trillion market value; the full $235 billion remaining allowance is about 4.3%. First-half free cash flow was $69.9 billion, up from $39.6 billion, but fell from $48.6 billion in Q1 to $21.3 billion in Q2 as receivables and inventory absorbed cash. Reuters reported Nvidia issued $25 billion in senior unsecured notes in June for general corporate purposes; that alone does not show the buyback is debt-funded.
