NVIDIA Shares Gain 3% After Board Authorized Additional $150 Bln Share Repurchase Program

(RTTNews) - Shares of NVIDIA Corporation (NVDA) are gaining about 3 percent on Monday morning after the company announced that its Board has authorized an additional $150 billion under the company's existing share repurchase program, increasing the total remaining amount authorized to $235 billion.

The company's shares are currently trading at $232.24 on the Nasdaq, up 3.18 percent. The stock opened at $229.70 and has climbed as high as $233.21 so far in today's session. Over the past year, it has traded in a range of $164.27 to $236.54.

The company added that the authorization reflects its confidence in the long-term opportunity ahead. It expects to execute the total remaining program through fiscal year 2028.