Nvidia Adds $150 Billion to Buyback as Valuation Stays Below Market

Nvidia added $150 billion to its share buyback program, which Yahoo Finance described as the largest buyback ever in the United States. The move comes as the company’s forward price-to-earnings multiple remains below the benchmark index’s.

FactSet puts Nvidia’s multiple at 18.7 times estimated earnings for the next 12 months, compared with 12.9 for ExxonMobil and 19.2 for the benchmark. DataTrek co-founder Nicholas Colas sees the two companies as undervalued businesses tied to scarce resources: oil and data.

Nvidia said investments in 13 public companies and more than 200 private ones have returned three times what it invested. The company plans to use those gains for share repurchases and a growing dividend.

Analysts expect Nvidia’s fiscal 2028 sales to approach $700 billion, according to Colas. They also expect Nvidia’s revenue next year to be 66% higher than ExxonMobil’s, even though the companies are roughly equal in revenue in 2026.

Colas said the scale of Nvidia’s expected growth is driven by spending on AI investment. The article draws a parallel with oil, where supply-and-demand pressures have been highlighted by disruptions in the Persian Gulf.