India, Sept. 28 -- AI chip major NVIDIA Corp. on Monday announced that its board has authorized an additional $150 billion share repurchase program, amid the significant growth in profit on soaring AI demand.
The additional authorization increases the remaining total amount under the program to $235 billion.
In the early morning trading on the Nasdaq, the shares were trading 3.03% higher at $231.88.
The company expects to execute the remaining repurchase program through fiscal year 2028.
NVIDIA said the largest share repurchase authorization increase in its history reflects its confidence in the long-term opportunity driven by AI and accelerated computing.
According to the firm, its growth is being driven by a once-in-a-generation plat...