Nvidia Corp. (NASDAQ:NVDA) shares hit a fresh all-time high on Friday after the board approved an additional $150 billion share repurchase authorization.

The new program lifts Nvidia’s remaining buyback capacity to about $235 billion through fiscal 2028.

Analysts estimate the buyback could shrink the share count by about 4.2% and add roughly 1.6% to earnings per share by 2028.

Nvidia stock rose about 2% to $235.5 at midday, after touching a record intraday high of $237.55. That pushed its market value to roughly $5.7 trillion.

Since the start of the year, Nvidia stock has rallied 25%.

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