Stock Market Today, Sept. 30: Nvidia Authorizes $150B Buyback, Lifting Total to $235B

Nvidia (NVDA) just authorized an additional $150 billion share repurchase, lifting its total buyback program to $235 billion through 2028. That arithmetic implies roughly $85 billion of authorization was already in place before this announcement.

NVDA closed up 0.52% at $228.38. The muted reaction to a $150 billion authorization is notable. Interpretation: the market may have treated the buyback as incremental to an already-strong narrative rather than a fresh catalyst.

Supporting that narrative are other developments cited alongside the announcement: an AI safety accord and an expansion into quantum computing. Fundamentals remain the anchor. NVDA is posting 106% year-over-year revenue growth and trades at a forward P/E of 25. Interpretation: a 25x forward multiple against triple-digit growth frames the stock as reasonably valued relative to its expansion rate, which the buyback reinforces by signaling management's conviction in its own equity.

The $235 billion program runs through 2028, giving NVDA a multi-year mechanism to return capital. Whether that becomes a meaningful price floor depends on execution pace, which the authorization alone does not reveal.