BUZZ - Nvidia shares rise after announcing an increase of $150 billion in stock buybacks

September 28 - ** Chip giant Nvidia NVDA.O shares rose 1.2% in pre-market trading to $227.66

** The company will additionally repurchase shares worth $150 billion under its existing buyback plan (link)

** The company says this move marks the largest increase in stock repurchase authorization ever

** This move raises the remaining authorized total for stock buybacks to $235 billion

** "Nvidia's growth is being driven by a once-in-a-generation shift to artificial intelligence and accelerated computing platforms," CEO Jensen Huang stated

** The company expects to carry out this buyback plan during fiscal year 2028

** As of the previous trading day's closing, the company's share price has risen 20.7% this year, compared to a 16.5% rise in the Nasdaq Composite Index .IXIC during the same period

(To assist non-native English speakers, Reuters has automated the translation of its reports into several other languages. Because automated translation may contain inaccuracies or lack the required context, Reuters does not guarantee the accuracy of the automated translation text and provides it solely for readers’ convenience. Reuters accepts no liability for any damage or loss caused by use of the automated translation function.)