Nvidia Just Approved the Largest Stock Buyback in Corporate History — $150 Billion
On September 28, Jim Cramer finally got something he'd been publicly demanding for months: Nvidia authorized a record-setting $150 billion addition to its share buyback program.
Here's the full picture behind the headline number:
→ The new $150B brings Nvidia's total remaining buyback authorization to $235 billion, running through fiscal 2028
→ Cramer attached a condition to his praise: "If they're active and in there every day, it will change the trajectory of the stock" — the impact depends entirely on consistent daily execution, not just the size of the number
→ He's been pushing Nvidia to copy Apple's playbook under former CFO Luca Maestri, who bought shares aggressively every time the stock dipped
→ Nvidia already repurchased $39 billion of stock in just the first two quarters of fiscal 2027 — nearly matching its entire fiscal 2026 buyback total
→ CEO Jensen Huang framed the move as confidence in a "once-in-a-generation platform shift to AI and accelerated computing"
→ Nvidia shares rose roughly 1.7–3% on the news, bringing its year-to-date gain to about 24% — Melius Research called it a sign of real confidence, Wedbush's Dan Ives called it a "genius move"
→ One real constraint Cramer flagged: Nvidia sometimes can't buy back stock in the final ten minutes of trading because zero-day options activity jams up the stock
Here's what stands out to me: a buyback authorization is a ceiling, not a commitment. Nvidia announcing $150B in capacity tells you what it's allowed to do — not what it will actually do day to day. Cramer's own framing makes that explicit: the number only "changes the trajectory" if execution matches the headline. Companies have announced big buyback programs before and quietly under-executed them when conditions got less certain.
It's also a market-sentiment signal as much as a financial one. At a moment when AI-bubble worries are genuinely circulating, a company putting $150B of its own balance sheet behind its stock is a louder statement of confidence than any earnings call.
Do you read buybacks like this as genuine conviction from management — or mostly a tool to prop up a stock price?
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