Nvidia Authorizes Record $150B Buyback; Intel Falls 4% on Rate Fears
Chip stocks diverge as Nvidia signals confidence with historic repurchase while Intel retreats on oil-driven inflation worries.
KEY POINTS
- Nvidia authorized an additional $150 billion in buybacks, the largest increase in history.
- Intel fell 4% as U.S.-Iran tensions lifted oil prices and revived rate worries.
- The semiconductor ETF dropped 2.35%, leading the broader tech decline.
- Nvidia has repurchased $39.8 billion in shares in the first half of fiscal 2027.
- Total Nvidia buyback authorization now stands at $235 billion through fiscal 2028.
Nvidia announced a record $150 billion increase to its share repurchase program on Monday, bringing total authorization to $235 billion through fiscal 2028. CEO Jensen Huang said the move reflects confidence in long-term growth. The stock rose 3% to $231.90 despite a broader semiconductor selloff.
Intel shares dropped 4% to $117.98 as rising oil prices renewed inflation and interest-rate concerns. The iShares Semiconductor ETF fell 2.35%, underperforming the Nasdaq 100's 1.03% decline. Intel remains up 221% year-to-date, making profit-taking a factor.
“This authorization reflects our confidence in the long-term opportunity ahead.”
Taiwan Semiconductor Manufacturing slipped 0.9% to $446.37. Nvidia has repurchased $39.8 billion in shares during the first half of fiscal 2027, up 64% from a year earlier. The original 2004 buyback authorized just $300 million.
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