Nvidia to Complete 10-for-1 Stock Split on Friday
Nvidia CEO Jensen Huang delivers a speech during the Computex 2024 exhibition in Taiwan on June 2.
Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday
The shares will begin trading on a split-adjusted basis when the market opens on Friday, June 7, 2024. Nvidia (NVDA) shareholders of record as of the close of business on Thursday, June 6, 2024, will receive nine additional shares of the company's common stock for each share they own.
Nvidia's stock split is a sign of the company's confidence in its future prospects. The company has been a major beneficiary of the growing demand for artificial intelligence (AI) and other data-intensive applications. Nvidia's graphics processing units (GPUs) are used in a wide range of AI applications, including machine learning, deep learning, and computer vision.
The stock split will make Nvidia's shares more affordable to a broader range of investors. The company's stock price has been on a tear in recent years, rising from around $200 per share in early 2020 to over $300 per share today. The stock split will reduce the share price to around $30 per share, making it more attractive to smaller investors.
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