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Cramer demands a half-trillion buyback as NVIDIA trades at 23 times forward earnings

9/2/2026

Against the backdrop of triple-digit revenue growth across the AI data center market, a pointed valuation argument broke into the open on Monday.

NVIDIA (NASDAQ: NVDA) is trading at roughly 23 times its fiscal year 2027 earnings consensus, a multiple CNBC host Jim Cramer called absurd for a business the company's CFO expects to grow approximately 70% in fiscal 2028.

Cramer's proposed remedy is a $500 billion share buyback program, roughly a tenth of the company. The operating results do not make the case for a cautious multiple.

NVIDIA's most recent quarter produced revenue of $96.22 billion, up 105.85% year over year, with Data Center revenue of $89.02 billion growing 117%.