U.S. companies are planning stock buybacks at a record pace, demonstrating strong corporate confidence in the economy, with NVIDIA being the latest company to join the buyback program. Data compiled by Birinyi Associates shows that announced stock buybacks have exceeded $1 trillion as of August 20th, setting a new record for the shortest time needed to reach this milestone. The previous record was set in October last year.

Over the past few months, major corporations—particularly giants in the financial and technology sectors—have approved massive stock buyback programs. NVIDIA announced plans to repurchase $60 billion worth of shares after releasing quarterly earnings on Wednesday evening. Earlier in May, Apple announced a $100 billion stock buyback program. Alphabet, JPMorgan Chase, Goldman Sachs, Wells Fargo, and Bank of America have also announced buybacks of at least $40 billion each.

Jeffrey Yale Rubin, President of Birinyi Associates, stated: "The ultimate dip buyers in the market will continue to emerge, and that's the companies themselves. Their earnings are strong, they have sufficient capital for capital expenditures, and this is a good way to reward investors and company owners."

Last month, with major U.S. financial and technology companies launching buyback programs, total announced stock buybacks reached $166 billion, marking the highest amount on record for July. These buybacks have provided crucial support for the U.S. stock market, with the S&P 500 recently reaching new all-time highs.

The series of stock buyback programs indicates growing confidence among corporate executives. Rubin expects this momentum to continue through the end of the year, predicting that announced buybacks will reach $1.3 trillion, while completed buybacks will also set historical records.

Rubin noted: "If the economy doesn't experience a significant slowdown, we forecast that completed buybacks in 2026 will reach $1.2 trillion, which would be a new record."

The massive corporate buybacks have drawn criticism from some officials in the Trump administration. Treasury Secretary Scott Bessent criticized Boeing on Wednesday for conducting "massive" stock buybacks instead of investing in research and development.