Nvidia Announces $150 Billion Buyback Increase, Largest in US History Nvidia announced a $150 billion increase to its stock buyback program, bringing the total to $235 billion, the largest in US corporate history, as AI profits surge. Nvidia, the chipmaker led by CEO Jensen Huang, announced on Monday the largest-ever stock buyback increase in US corporate history, adding $150 billion to its existing share repurchase program and raising the total remaining authorization to $235 billion. The announcement came as Nvidia's profits more than doubled in the second quarter of 2026 compared to the previous year, surging to nearly $60 billion. Following the news, Nvidia's stock price jumped by around 3%.Nvidia Buyback Surpasses Apple RecordThe $235 billion total exceeds Apple's record $110 billion buyback set in 2024, making it the largest in US corporate history. Nvidia's market capitalization now stands at about $5 trillion, making it the most valuable public company in the world.Jensen Huang, Nvidia's CEO and the eighth-richest person in the world, said the company's growth is being driven by a once-in-a-generation platform shift to AI and accelerated computing. He added that Nvidia's cash generation gives it the capacity to invest in technologies that advance this transformation and return capital to shareholders.Stock buybacks reduce the number of a company's shares outstanding on the public market and boost earnings per share, typically resulting in a stock price increase and a wealth boost for shareholders and executives who receive stock-based compensation.AI Boom Drives Nvidia ProfitsNvidia's chips are the centerpiece of giant AI data centers, and demand for those chips has become a barometer of the AI boom. Tech companies have been buying tens of billions of dollars' worth of those chips, fueling Nvidia's rise.The company's profits have exploded due to this demand, with the second quarter of 2026 showing a surge to nearly $60 billion, more than double the previous year.Critics Slam Buyback as ManipulationCritics argue that corporate spending on share repurchases amounts to stock price manipulation that diverts resources from more productive uses of capital, such as increasing worker pay and research and development.David Kass, executive director of Americans for Tax Fairness, noted that corporations received tax breaks from the 2017 Trump-GOP tax law, which were supposed to be used to increase employee pay and business investment, but have instead been wasted on trillions of dollars of stock buybacks. He said Nvidia's buyback increase beats Apple's record $110 billion set in 2024 for the largest in US corporate history.The debate over buybacks continues as Nvidia solidifies its position at the forefront of the AI revolution, with its stock price and market value reaching unprecedented levels.