Stock Market Today, Sept. 30: Nvidia Authorizes $150B Buyback, Lifting Total to $235B
2026-09-30 21:20
•Will Healy •The Motley Fool
•••••• ••• Axe Cap view
Nvidia’s Massive Buyback Signals Confidence, But What About SA Investors?
Nvidia’s $150 billion share buyback shows strength in AI, yet South African investors should watch USD/ZAR for local impact.
Nvidia's decision to up its buyback program to a staggering $235 billion through 2028 underlines the company’s confidence in continued growth, especially with AI and quantum computing driving revenue exploding over 100%. For South African investors, this story isn't about picking local tech stocks but understanding how a stronger Nvidia-driven US tech sector might influence the rand. A hawkish US Federal Reserve and a robust tech market could keep the USD firm against the ZAR, pressuring rand-linked stocks like Naspers and Prosus, whose share prices are sensitive to currency swings. While Nvidia’s fundamentals look solid, US tech valuations can be volatile, and any broad market selloff or Fed pivot could derail this momentum. Keep a close eye on USD/ZAR movements to gauge South African tech exposure risks. this is just our opinion and not financial advice
Watch USD/ZAR closely and trim South African tech exposure if the rand weakens beyond 19 to the dollar. Consider increasing allocations in exporters like AngloGold Ashanti, which benefit from a weaker rand backdrop.
- NVDA
- USD/ZAR
- Naspers
- Prosus
- AngloGold Ashanti
- Rapid changes in US interest rates disrupting tech valuations
- Sudden improvements in South African risk sentiment strengthening the rand unexpectedly
6/10
Nvidia announced an additional $150 billion share repurchase authorization, bringing its total buyback program to $235 billion through 2028. The company closed up 0.52% at $228.38, supported by positive developments including an AI safety accord and expansion into quantum computing. With 106% year-over-year revenue growth and a forward P/E ratio of 25, Nvidia continues to solidify its position as a leading AI company.
Our take is based on reporting first published by The Motley Fool.