Answer in brief
The chipmaker has expanded its permission to repurchase shares, but authorization is not the same as money already spent or a guaranteed timetable.
The board's announcement
Nvidia said on 28 September that its board had approved a $150 billion increase to the company's existing share repurchase program. That raised the amount remaining under the authorization to $235 billion, according to its release and AP's account. The distinction matters: a board authorization allows management to buy shares within a limit; it does not mean $150 billion changed hands that day. The company's announcement described the increase as the largest such authorization increase on record.
A stated plan, not a cash-spending guarantee
Nvidia said it expects to execute the total remaining program through fiscal 2028. That is management's stated intention, subject to future decisions, market conditions and cash needs. The release itself labels expectations about the program as forward-looking and lists risks that could produce a different outcome. Investors should therefore avoid treating $235 billion as a fixed schedule of purchases or a promise about share price. Repurchases can also occur at different prices, changing how many shares the same dollars retire.
Why capital allocation is the story
The company framed the authorization as evidence it can return capital while continuing to invest in AI and accelerated computing. That is the company's assessment of its cash-generation capacity, not an independently established forecast of future profits. A large buyback creates a clear question for shareholders: how much cash ultimately goes to stock repurchases, and how much remains for research, supply commitments and other investment? The announcement gives a ceiling for authorized repurchases, not a complete answer to that trade-off.
What can be verified next
Future financial statements and repurchase disclosures will show how much Nvidia actually spends and whether the remaining authorization changes. Share count, free cash flow and investment outlays will provide better context than the headline ceiling alone. AP independently reported the board decision, while Nvidia's own release supplies the formal amount and expected fiscal-year window. At the 30 September cutoff, there is no basis to say the entire program has been executed or that it guarantees a return for any investor.
Questions and answers
Did Nvidia buy $150 billion of stock on 28 September?
No. Its board authorized an additional $150 billion of future repurchases; that is permission, not a completed purchase.
What is the remaining authorized amount?
Nvidia's release put the total remaining authorization at $235 billion after the increase.