Nvidia’s September 28, 2026 announcement authorized another $150 billion in share repurchases and reported $235 billion remaining, with the company expecting to execute the program through fiscal 2028. That is permission and a stated plan—not evidence that Nvidia has already spent those dollars or that NVDA’s stock will rise. The latest reviewed filing reports actual purchases only through July 26, 2026, before the September increase.
Authorization is not the same as shares bought
A board authorization sets the amount a company is permitted to spend on repurchases; it does not require the company to use all of it. Nvidia says it may buy shares in the open market, in private transactions, under a Rule 10b5-1 trading plan, or through structured repurchase agreements. Purchases depend on market conditions, operating requirements, and other investment opportunities, and Nvidia may suspend the program at its discretion. The company’s fiscal 2028 timeline is an expectation, not a guaranteed schedule.
On September 28, 2026, Nvidia announced an additional $150 billion authorization and said $235 billion remained available under its program. In its fiscal 2027 second-quarter filing, by contrast, Nvidia reported that $99.3 billion remained authorized as of July 26, 2026. These figures have different dates: the filing’s transaction data ends before the September increase. The September announcement does not establish how much Nvidia has purchased since July 26.
| Measure | Amount | What it tells you |
|---|---|---|
| Additional authorization announced September 28, 2026 | $150 billion | New repurchase capacity approved by the board; not a completed purchase. |
| Reported remaining authorization on September 28, 2026 | $235 billion | Authorization Nvidia said remained available after the increase; not cash already spent. |
| Repurchases in fiscal 2027 Q2, ended July 26, 2026 | 94 million shares for $19.7 billion | Actual reported purchases during that quarter. |
| Repurchases in the first half of fiscal 2027, through July 26, 2026 | 203 million shares for $39.8 billion | Actual reported purchases over the six-month period. |
| Remaining authorization as of July 26, 2026 | $99.3 billion | Balance reported in the filing before the later September authorization increase. |
Actual purchase figures and the July 26 authorization balance are from NVIDIA Corporation’s fiscal 2027 second-quarter filing. The September authorization figures and execution expectation are from Nvidia’s September 28, 2026 announcement.
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How repurchases can change ownership and per-share figures
Continuing shareholders may own a larger proportion
When a company buys shares and retires them or otherwise removes them from the outstanding share count, each remaining share represents a larger fraction of the company, assuming no offsetting changes. A repurchase does not automatically increase every shareholder’s share count; rather, it can reduce the number of shares among which ownership is divided.
Earnings per share can rise mechanically
Earnings per share (EPS) is profit divided by the weighted-average number of shares. If profit stays constant while the weighted-average share count falls, EPS can increase mathematically. That change alone does not show that Nvidia’s operations improved, that future earnings will grow, or that the shares were undervalued. The SEC discusses these possible per-share effects, along with potential price pressure and the opportunity cost of diverting capital from other investments, in its repurchase disclosure materials.
Gross repurchases are not the same as net share-count reduction
To see the effect on ownership, compare shares outstanding across periods rather than relying only on the number repurchased. New shares issued through employee equity programs or other activity can offset some of the reduction. Nvidia reports repurchases separately from employee share withholding; withholding should not be counted as shares bought under the repurchase program.
Why the stock-price effect is uncertain
A repurchase announcement can be read as a signal of management’s view of the company or can add buying demand while purchases are occurring. The SEC describes possible short-term upward price pressure from repurchases, but that general discussion does not establish a fixed or guaranteed effect for Nvidia. NVDA’s market price also reflects expectations for Nvidia’s prospects, its valuation, market conditions, and other information.
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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →A buyback does not make the underlying business more valuable simply by reducing the share count. Its longer-term effect depends in part on the price Nvidia pays and what else it could have done with the capital. Buying below a well-supported estimate of value can benefit continuing shareholders if the company can still fund its business and commitments. Paying an unjustifiably high price can be an inefficient use of shareholder capital. The available figures do not establish Nvidia’s intrinsic value or predict the stock’s future performance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to evaluate Nvidia’s program
- Separate authorization from execution. Track dollars and shares actually purchased in filings, and note the reporting period. The July 26 filing totals predate the September 28 increase.
- Consider price paid relative to value. Ask whether repurchases appear sensible against a defensible valuation; an authorization amount alone cannot answer that.
- Check the net share-count change. Compare shares outstanding over time and account for share issuance and employee equity activity.
- Weigh other uses of capital. Nvidia’s July 26 filing reported $56.6 billion in cash, cash equivalents, and marketable debt securities, plus $42.8 billion in marketable equity securities. It also identifies operating requirements and other investment opportunities as relevant to repurchase decisions. Those balances are a dated snapshot, not a statement that all funds are available for buybacks.
- Compare repurchases with other shareholder returns. Nvidia reported returning approximately $26.0 billion through repurchases and dividends in fiscal 2027 Q2. It reported $6.0 billion in cash dividends paid that quarter and said its quarterly dividend rose from $0.01 to $0.25 per share in May 2026. These are distinct ways of returning capital.
- Keep market reaction separate from business value. A possible short-term demand or signaling effect is different from evidence of stronger earnings capacity or improved long-term prospects.
Nvidia CEO Jensen Huang said in the September 28 announcement: “Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders.” The announcement also describes the program’s timeline as subject to forward-looking-statement risks and uncertainties.
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