Nvidia authorizes record $150 billion stock buyback program

By Splitfeed EditorialLast updated Sep 29, 2026, 15:01 UTC

On September 28, 2026, Nvidia announced a $150 billion share buyback authorization, the largest in the company's history. The announcement was reported by the Wall Street Journal and other outlets the same day, and Nvidia's stock climbed roughly 3 percent in immediate response. The buyback follows a period in which Nvidia's share price has already risen approximately tenfold, yet analysts at 24/7 Wall St. argue the company's valuation is now at its cheapest level relative to earnings since 2015, suggesting the market has repriced the stock's growth expectations downward even as the underlying business has expanded dramatically.

The scale of the buyback is significant because a $150 billion authorization signals that Nvidia's leadership believes the current share price undervalues the company, and it returns capital to shareholders at a moment when the AI infrastructure buildout that drove Nvidia's rise is still ongoing. The announcement lands in a competitive context: AMD has surged 190 percent over a comparable period, drawing investor comparisons between the two chipmakers, and Wall Street analysts are publicly divided on whether Nvidia or SpaceX represents the better long-term AI-adjacent position. That disagreement reflects a broader uncertainty about which layer of the AI stack, semiconductors, software, or infrastructure, will capture the most durable value.

None of the three camps have published direct reactions to this story yet. The Pro-AI camp would typically treat a buyback of this size as validation that AI-driven demand has produced genuine, sustainable corporate wealth and that Nvidia's confidence in its own valuation is a bullish signal for the sector as a whole. The Anti-AI camp would likely argue that recycling capital into buybacks rather than wages, research accountability, or social investment reflects the extractive nature of the current AI boom. The Middle Ground camp would probably focus on the valuation question, asking whether the cheapest-since-2015 framing is sound given the changed competitive landscape and the unresolved question of which AI hardware or infrastructure player ultimately dominates.

The arguments most worth watching in the near term are the quarterly earnings disclosures from Nvidia and AMD that would test whether the valuation claims hold, and any regulatory update on SpaceX's path to public markets, which would give analysts a firmer basis for the Nvidia-versus-SpaceX comparison that is currently driving investor debate.