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Nvidia's $25 billion buyback 'a head-scratcher' for some shareholders

Economic Times

Economic Times · 1y ago

Nvidia's $25 billion buyback 'a head-scratcher' for some shareholders

Shares of Nvidia touched a record high on Thursday, a day after the company blew past expectations with its quarterly revenue forecast as an artificial-intelligence boom fueled demand for its chips. Nvidia shares, which had run up in the days leading up to its report, climbed more than 6% on Thursday but pared gains to end the day little changed.

Related News

For Nvidia, it’s AI or bust as it reports a record-breaking quarter

Arstechnica

Arstechnica · 1y ago

For Nvidia, it’s AI or bust as it reports a record-breaking quarter

Nvidia's CEO, Jensen Huang, predicts the AI boom will continue into next year and has announced a $25 billion share buyback program. This comes as Nvidia's earnings far exceed expectations, with quarterly revenue reaching $13.51 billion, a 101% increase from a year ago. Nvidia's near-monopoly on hardware for accelerating neural network training and deployment positions it strongly in the generative AI market. The demand for GPUs in AI applications is immense, and Nvidia's lead in this space remains unmatched, making it the first $1 trillion chip company.

UK's Deliveroo suspends share buyback after DoorDash buyout offer

Economic Times

Economic Times · 2m ago

UK's Deliveroo suspends share buyback after DoorDash buyout offer

Deliveroo has paused its £100 million share buyback program following a £2.7 billion takeover proposal from DoorDash. Deliveroo plans to recommend the 180 pence-per-share offer to its shareholders, provided other terms are agreed upon. The deal, which expands DoorDash's market reach without regulatory hurdles, contrasts with potential antitrust issues for other competitors. Deliveroo will announce any resumption of the buyback program to the market.

Truecaller spends $140 mn on dividends, buybacks amid share slump

The Arc Web

The Arc Web · 1y ago

Truecaller spends $140 mn on dividends, buybacks amid share slump

Caller ID app Truecaller has spent $141 million on dividends and share buybacks over the past 18 months during a period of business slowdown. The company recently announced a special dividend of $54.4 million (SEK 590 million) for its shareholders, along with plans to give 25% of its profit after tax as dividends each year. Additionally, Truecaller has completed a share buyback, spending $86.5 million (SEK 940 million) to cancel a 7.5% stake. Despite the positive news, Truecaller's market capitalisation has dropped to $1 billion, and its shares are currently 35% lower than the IPO price in 2021.

Adobe drops on weak forecast fueled by AI competition fears

Livemint

Livemint · 1y ago

Adobe drops on weak forecast fueled by AI competition fears

Adobe Inc. stock dropped by 10% in after-hours trading after the company provided a weak sales outlook for the current quarter. The revenue projection of $5.25 billion to $5.3 billion fell short of analysts' expectations of $5.31 billion. Adobe is facing concerns that new AI-focused startups are posing a competitive threat, despite incorporating its proprietary AI model into its top products. Investors await greater financial impact from Adobe's AI features. The company announced a new $25 billion share buyback program and plans to showcase more video features in the coming months.

'Instincts are massively cheaper than Nvidia's H100': AMD is selling flagship AI GPUs at a huge discount to Microsoft — but I'm not sure that will be enough to bother Nvidia

Techradar

Techradar · 1y ago

'Instincts are massively cheaper than Nvidia's H100': AMD is selling flagship AI GPUs at a huge discount to Microsoft — but I'm not sure that will be enough to bother Nvidia

AMD is offering its flagship AI GPUs, the Instincts, at a significant discount to Microsoft, providing a competitive alternative to Nvidia's pricier H100. The pricing difference between Nvidia's H100 and AMD's MI300X is substantial, with AMD's GPUs costing up to four times less. However, Nvidia's dominant position in the AI GPU market is unlikely to be substantially impacted due to its established software stack and high demand. AMD is predicted to generate $3.5 billion in AI-related revenue this year, but some analysts believe that figure could be underestimated.

Russia-backed refiner Nayara lines up $217.5-mn share buyback

VCCircle

VCCircle · 4m ago

Russia-backed refiner Nayara lines up $217.5-mn share buyback

Russia-backed Nayara Energy, majority-owned by Russian entities including Rosneft, has announced a $217.5-million share buyback to assist minority stakeholders in exiting the delisted company. This follows Rosneft's $13-billion acquisition of Nayara, formerly Essar Oil, in 2017. Nayara will offer Rs 731 per share to over 200,000 minority shareholders who missed previous delisting offers. Rosneft and a consortium own nearly equal stakes in Nayara, which operates a major refinery and fuel stations in India.

ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank

VCCircle

VCCircle · 1y ago

ICICI Securities gets shareholder nod to delist, setting up merger with ICICI Bank

ICICI Securities has received approval from shareholders to delist its stock, moving closer to merging with its parent company, ICICI Bank. The vote saw 71.9% of minority shareholders in favour of delisting. Public institutional investors holding 16.68% of the company backed the move, but only 32% of non-institutional shareholders approved. ICICI Bank, which currently holds a 75% stake in the brokerage, will pay around INR59bn ($707.9m) to acquire the remaining 25% in a share-swap deal. Some minority investors have expressed discontent with the offer price, which is 2% less than the stock's last closing price.

A23-parent Head Digital Works rolls out ESOP buyback worth $3 Mn

Entrackr

Entrackr · 8m ago

A23-parent Head Digital Works rolls out ESOP buyback worth $3 Mn

Head Digital Works, the parent company of skill gaming platform A23, has completed its first-ever employee stock options (ESOP) buyback program, totaling $3 million. Approximately 97% of eligible ESOP holders participated in the program, with nearly half of the company's 500+ employees benefiting from the buyback. Head Digital Works, founded in 2006, offers online gambling and fantasy gaming platforms such as A23, Fanfight, and Cricket.com, with over 70 million registered users. The company aims to promote Rummy as a professional game and has raised $91 million in funding. Several other startups have also implemented ESOP buybacks in 2024, amounting to over $190 million.

Nvidia bets $25 billion that AI boom is far from over

Economic Times

Economic Times · 1y ago

Nvidia bets $25 billion that AI boom is far from over

The company's sales forecast on Wednesday blew past Wall Street's expectations and it said it would buy back another $25 billion of its shares, a move most companies make when their leadership thinks the company is undervalued. Nvidia's stock price, though, has more than tripled this year and was set to hit an all-time high after Wednesday's results.

Microsoft approves new $60 billion share buyback program, quarterly dividend of $0.83 — a 10% jump | Mint

Livemint

Livemint · 10m ago

Microsoft approves new $60 billion share buyback program, quarterly dividend of $0.83 — a 10% jump | Mint

Microsoft has announced a new share buyback program of up to $60 billion, approved by its board. The company reported a quarterly dividend of $0.83 per share, marking an 8 cent increase from the previous quarter. Microsoft's annual shareholders meeting will take place on December 10. The tech giant has been increasing spending on AI infrastructure, resulting in a rise in capital spending. Despite a slowdown in growth in its Azure cloud business, Microsoft expects growth to accelerate in the second half of fiscal 2025.

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