US Firms Racing Through $1 Trillion Buyback Spree in Record Time

US companies are planning to buy back shares at a historic pace, a sign of Corporate America’s confidence in the economy, with Nvidia Corp. being the latest to add its name to the long list of repurchase plans.

Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates. The previous record was in October last year.

Over the last few months, corporate heavyweights — particularly in financials and technology — have given the green light to large share-repurchasing programs. On Wednesday, Nvidia ...