Reported 5 months ago
Nvidia has announced a 10-for-1 stock split, with shares reaching $1,000 as the company capitalizes on the AI boom it has been leading. The stock hit an all-time high on Thursday after closing at $949.50 the day before. The split, effective June 7, 2024, will see each Nvidia share valued at $94.95. Additionally, the company raised its dividend by 150% to $0.10 per share. Nvidia's first-quarter revenue of $26 billion, up 262% from a year ago, surpassed estimates, and the company provided a strong second-quarter revenue forecast of $28 billion. CEO Jensen-Huang emphasized Nvidia's role in the AI revolution, positioning the company as a leader in accelerated computing. Stock splits have been a trend this year, with other companies like Chipotle and Walmart also announcing similar moves.
Source: YAHOO