Https Www Axios Com 2024 06 10 Nvidia Chips Cisco Stock Split Ai Genai
Nvidia Announces Stock Split, Trading to Begin on June 7th
10-for-1 split to take effect at market close on Friday
Move comes as the semiconductor giant reports strong first-quarter earnings
[City, State] - [Date] - Semiconductor giant Nvidia (NVDA) has announced a 10-for-1 forward stock split, effective at the close of the market on Friday, June 7th, 2024. The split-adjusted shares will begin trading on Monday, June 10th.
The announcement comes as Nvidia reported strong first-quarter earnings, beating analyst expectations on both revenue and earnings per share. The company's revenue rose 53% year-over-year to $9.4 billion, while its earnings per share increased 67% to $3.49. Nvidia's strong results were driven by continued demand for its graphics processing units (GPUs), which are used in a variety of applications, including gaming, data centers, and artificial intelligence.
The stock split is a sign of Nvidia's confidence in its future prospects. By increasing the number of shares outstanding, the company makes its stock more affordable to a wider range of investors. This can lead to increased trading volume and liquidity, which can benefit all shareholders.
Nvidia's stock has performed well in recent years, rising more than 1,000% since its initial public offering in 1999. The stock split is likely to further boost the company's share price, making it even more attractive to investors.
Fast Company
تعليقات