NEW YORK — Shares of Nvidia rose 2.78%, or $6.26, to $231.33 as of 10:25 a.m. Eastern time on Monday after the chipmaker announced the largest increase to a share repurchase authorization in its history and unveiled a platform for controlling autonomous artificial intelligence agents, moves that helped it outperform a market weighed down by AI-related selling.

Nvidia said its board authorized an additional $150 billion for share repurchases, raising the total remaining authorization to $235 billion, and that it expects to complete the remaining program through fiscal year 2028, according to Benzinga. CNBC reported that the company described the increase as the largest in its history. Chief Executive Jensen Huang linked the expanded program to the company's cash generation and its confidence in what he called a "platform shift to AI and accelerated computing," Benzinga reported.

The figures come with a caveat. The $235 billion is Nvidia's total remaining repurchase authority after the increase, not a commitment to buy back $150 billion of stock right away, The Crypto Basic noted. Nvidia's latest quarterly filing states that repurchases can be made from time to time depending on market conditions, operating requirements and other investment opportunities, the outlet said.

The company also introduced the Nvidia Open Agent Safety Platform, an open software platform and reference system design for governing AI agents from testing through........

© International Business Times