Nvidia Stock Gains on Record Buyback: Jim Cramer Gets His Wish

Shares of technology giant NVIDIA Corp (NASDAQ:NVDA) are trading higher Monday after the company announced a record stock buyback. Here are the details and how Jim Cramer may have predicted the move happening. • NVIDIA stock is building positive momentum. What’s driving NVDA shares up? Nvidia’s Buyback With potential pressure on meeting optimistic earnings and revenue forecasts in the future, Nvidia has announced a record stock buyback. The company’s board of directors added $150 billion to its existing buyback, which takes the remaining total up to $235 billion. Nvidia said this is the largest share buyback authorization in history. Nvidia will execute the remaining share buybacks through fiscal 2028. "Our cash generation gives us the capacity to invest in the technologies that advance this transformation and return capital to shareholders. This authorization reflects our confidence in the long-term opportunity ahead," Nvidia CEO Jensen Huang said. Read Also: Nvidia Q2 Highlights: Double Beat, Huang Says ‘AI Infrastructure Buildout is at Full Steam’ Jim Cramer’s Nvidia Wish News of the increased buyback comes around two weeks after CNBC host Jim Cramer said he was not giving up on Nvidia stock, despite a declining stock price. "I am confident that almost every deal he has done will pay off in better relationships and big profits," Cramer said. Along with his bullish view, Cramer said his suggestion to boost the stock price is for Nvidia to conduct a $500 billion share buyback. “It would demonstrate a level of conviction that is much needed right here. At 14x earnings, Nvidia’s stock is the best investment Jensen Huang can make.” While Nvidia didn’t announce a $500 billion share buyback, the $235 billion total is nearly half of Cramer’s total. It’s likely that Nvidia had planned the share buyback for some time or did it for several reasons and not just because Cramer said so. See More: Top Growth Stocks Nvidia Stock Price Action Nvidia stock is up 2.3% to $230.28 on Monday versus a 52-week trading range of $164.27 to $236.54. Nvidia stock is up 21.9% year-to-date in 2026. Read Also: Nvidia Stock: 84% of Benzinga Viewers Have Owned It. Here’s How Many Still Do. Photo created using images from Shutterstock.