Nvidia, a leading technology company, announced a 10-for-one stock split as part of its first-quarter earnings release. Compared to the previous year, Nvidia reported a significant 260% increase in revenue, with data center revenue growing by 427%. This growth was attributed to the demand for generative AI training. Nvidia’s founder and CEO, Jensen Huang, expressed optimism about the company’s role in the emerging industrial revolution focused on artificial intelligence.
Investors who own Nvidia shares will receive an additional nine shares for each share they own after the market closes on June 7. The split trading will begin on June 10, and a dividend of one cent per share will be paid to shareholders on June 28. Nvidia’s stock price rose following the earnings release, closing at $949.50 per share and reaching around $1,007 per share in after-hours trading. The company’s stock is nearing its one-year closing high of $950.02.
Nvidia, a full-stack computing company founded in 1993, is a key player in artificial intelligence and graphics technology. Some of their clients include ChatGPT, Amazon, Snap, and Google. In addition to their work in AI, Nvidia produces graphics cards that are essential for modern gaming.
In summary, Nvidia’s impressive financial performance, driven by revenue growth and demand for AI technologies, has positioned the company for a stock split and dividend distribution. The company’s focus on accelerated computing and AI is seen as part of the next industrial revolution, showcasing Nvidia’s role as a leader in the technology sector. Investors are eagerly anticipating the stock split in June, as Nvidia’s stock price continues to show strength in the market.
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https://www.usatoday.com/story/money/investing/2024/05/22/nvidia-stock-split-earnings-report/73808415007/