Nvidia Stock Rises As AI Chipmaker Plans Huge Share Buyback

AI chipmaker Nvidia (NVDA) on Monday signaled that it believes its stock is undervalued by announcing a huge increase to its share repurchase program. Nvidia’s board of directors has authorized a $150 billion increase to its stock buyback plan, raising the remaining total program to $235 billion. The Santa Clara, Calif.-based company said it expects to execute the total remaining…