Jim Cramer Wants Nvidia to Buy Back $500 Billion. Can Apple’s Playbook Work?

September 8, 2026 - 04:12

Jim Cramer is making a bold case for Nvidia to launch a $500 billion share repurchase program and buy back stock on a daily basis. During his September 1 Mad Money segment, the host argued that Apple's long-running buyback strategy offers the perfect blueprint for the chipmaker. Both companies generate enormous cash flow and have loyal investor bases, but Cramer's suggestion raises a practical question: can Nvidia actually follow that playbook without straining its own balance sheet?

Nvidia's most recent quarterly filing shows roughly $99.3 billion still available under its existing repurchase authorization, a hefty sum by any standard. Yet Cramer wants the company to go much further, essentially committing to a level of buybacks that would dwarf most corporate programs. Apple has famously returned hundreds of billions to shareholders over the years, but it does so from a position of massive, predictable earnings and a mature product cycle. Nvidia, by contrast, is still in a high-growth phase where it needs to pour money into research, supply chain, and new data center capacity to stay ahead of rivals.

The comparison is not clean. Apple's buybacks work because its cash pile is enormous and its capital spending needs are relatively modest. Nvidia, on the other hand, faces intense demand for its AI accelerators and must keep investing heavily to maintain its lead. A $500 billion buyback would be a bold signal of confidence, but it could also limit flexibility if the market shifts or if the company needs to make a major acquisition. Cramer's enthusiasm is understandable given Nvidia's stock performance, but the real test is whether management can balance shareholder returns with the heavy spending required to keep growing. Investors will be watching closely to see if the board takes his advice or sticks with a more measured approach.