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Nvidia plans massive stock buyback as shares look cheap
The move comes as the company looks to spend hundreds of billions of dollars repurchasing shares based on earnings expectations.
CNBC Markets reports that Nvidia is set to spend hundreds of billions of dollars buying back its own stock.
The outlet says the buyback reflects a view that the shares are historically cheap when measured against earnings expectations.
Nvidia's CEO, Jensen Huang, is described as being reluctant to pass up the opportunity signaled by that valuation.
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