New Delhi, Sept. 29 -- The tech industry's eye-watering investments in artificial intelligence are already paying off-as long you own Nvidia stock.

The chip maker disclosed a $150 billion increase to its share-repurchase program Monday, raising its total buyback authorization to $235 billion. It expects to execute the full repurchase amount through fiscal year 2028, which ends in January of that year.

The buybacks reflect Nvidia's enviable position in the AI economy. Because its chips form the foundation of model training, Nvidia is getting paid now, while other companies like Meta Platforms and Microsoft are spending big to secure a profitable spot in AI's future. That gives the chip maker plenty of cash to deploy however it pleases. ...