Nvidia said Wednesday that its board of directors has approved a $50 billion stock buyback.

The computer chip giant announced the share repurchase as part of its fiscal second quarter earnings, in which it reported earnings and guidance that surpassed Wall Street expectations.

Nvidia returned $15.4 billion to shareholders in share repurposes and cash dividends as part of the company’s first half of its fiscal year 2025. The company said it had $7.5 billion remaining under its share repurchase plan, as of the end of its fiscal second quarter.

Last year, Nvidia announced a $25 billion share buyback as part of its fiscal second-quarter results.

Companies often experience a boom to their stock price after revealing stock buyback plans.

In May, for instance, Apple announced a $110 billion stock buyback, as part of its fiscal second-quarter results that showed overall sales fell 4% year-over-year and iPhone sales dropped 10% year-over-year. However, the iPhone maker’s shares rose 7% in after-hours trading, likely because Apple’s share buyback was the biggest in corporate history.

With Nvidia’s shares dropping 4% in extended trading despite reporting solid financial results and announcing a stock buyback, some experts believe that the company has been doing so well that it’s getting harder to impress investors.

Second-quarter sales rose 122% year-over-year to $30.04 billion, while net income jumped 168% year-over-year to $16.6 billion, Nvidia said.

The company said that it projects roughly $32.5 billion in third-quarter sales, topping analyst estimates of $31.7 billion.

–CNBC’s Kif Leswing contributed reporting.