Combined with previously authorised amounts, the company’s overall buyback programme now totals US$235b ($414b), which Nvidia expects to complete by the end of its fiscal year 2028
in January.

The announcement far surpasses Apple’s previous record of US$110b ($194b), authorised in 2024.

A stock buyback is when a company uses cash to buy back its own shares from investors, reducing the total number of shares outstanding, typically boosting the stock price.

Markets received the news positively. Nvidia is the world’s most valuable company at about US$5.6 trillion, a commanding lead over second-placed Apple at US$4.9t.