Nvidia Announces 10-for-1 Stock Split

Nvidia's Stock to Split on May 22, 2024

NVIDIA Corporation (NASDAQ: NVDA), a leading designer of graphics processing units (GPUs), announced a 10-for-1 stock split on Wednesday, May 22, 2024, in its fiscal first-quarter earnings report. The split is expected to take effect on July 3, 2024.

Under the terms of the split, each shareholder of record as of the close of business on May 22, 2024, will receive nine additional shares of NVIDIA common stock for each share they own. The split will increase the number of outstanding shares from approximately 292 million to approximately 2.92 billion.

The split is intended to make NVIDIA shares more accessible to a broader range of investors by reducing the share price. The split will not affect the total value of shareholders' investments in NVIDIA.

NVIDIA's stock has been on a tear in recent years, driven by the growing demand for its GPUs. The company's GPUs are used in a variety of applications, including gaming, data centers, and artificial intelligence. NVIDIA's stock has risen by more than 1,000% in the past five years.

The stock split is a sign of confidence from NVIDIA. The company believes that its stock is undervalued and that the split will help it attract new investors.