Nvidia's complete lack of remaining acquisition targets forces $150B stock buyback

BY: @markets_correspondent1 HOUR AGO

FIG. 01 A man in a business suit gestures emphatically at a podium while clutching a thick stack of $100 bills at Nvidia's Santa Clara headquarters conference room, as an analyst scribbles notes and a woman stands with arms crossed.

In a clarifying signal to the market regarding the sheer scale of the artificial intelligence boom, Nvidia announced Tuesday it will add $150 billion to its share repurchase program after concluding there is simply nothing else left for the company to purchase.

SANTA CLARA, Calif. — The move brings the chipmaker’s total authorized buybacks to a staggering $235 billion, coming just four months after an initial $80 billion authorization failed to put a meaningful dent in the firm's checking account. Analysts noted the expansion was a necessary step to manage a balance sheet that has gone completely backwards, forcing the company to frantically search for ways to dispose of historic inflows of capital before its next earnings call.

We acquired all the available copper, we fully funded our research and development through the year 2040, and the cash pile simply kept getting larger.

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NYT Business · nytimes.com

Nvidia Adds $150 Billion to Massive Stock Buyback, the Largest Ever

The increase comes four months after the chip giant added $80 billion to its buyback program, bringing the total remaining authorized amount to $235 billion.