Nvidia to Buy Back Up to $25 Billion in Stock

Nvidia’s stock is surging after reporting better-than-expected earnings, and the chipmaker had even more goodies for its investors.

Nvidia also announced a new authorization to repurchase up to $25 billion worth of stock. Nvidia said it spent $3.28 billion on buybacks in the second quarter.

The chipmaker, like the rest of Wall Street, will be paying top dollar if it buys shares soon: the stock now trades at more than 45 times trailing revenues, according to FactSet data.

Leave a Comment