Nvidia will spend up to $235 billion on its expanded share repurchase program through fiscal 2028. The board's authorization of an additional $150 billion represents the largest such increase in history for a buyback program. Shares of the chipmaker rose 1.4% to 1.5% in premarket trading on Monday following the news.

CEO Jensen Huang said the company's cash generation provides the capacity to both invest in the technologies advancing AI transformation and return capital to investors. This authorization allows Nvidia to return value to shareholders alongside its continued AI-driven growth.