Nvidia Announces 10-for-1 Stock Split: Here's Everything You Need to Know

Graphics and artificial intelligence company Nvidia announced a 10-for-one stock split on Wednesday as part of its first-quarter earnings release.

The company reported a revenue increase of more than 260% from the first quarter of 2023, while data center revenue jumped 427% from last year to $22.6 billion. dollars, an increase fueled in part by demand for generative AI training, the company said.

“The next industrial revolution has begun,” said Jensen Huang, founder and CEO of Nvidia, in a press release. “Companies and countries are partnering with Nvidia to move traditional, trillion-dollar data centers to accelerated computing and build a new type of data center – AI factories – to produce a new product: artificial intelligence.”

Nvidia stock split will take place in June

Investors who hold Nvidia shares after the market close on June 6 will receive an additional nine shares for each share held after the market close on June 7, with the prices of those shares split evenly on a 10-to-one basis. Trading on the split basis will begin on June 10.

The Silicon Valley-based company announced it would pay a dividend of one cent per share on June 28 based on post-split holdings. Shareholders must hold shares after the market close on June 11 to receive the dividend.

Nvidia stock price

The tech giant’s stock price jumped after the earnings release.

Nvidia closed the trading day at $949.50 per share and is hovering around the $1,007 per share mark after hours.

The activity leaves the stock poised to surpass its one-year closing high of $950.02, which could be eclipsed on Thursday.