The article discusses Nvidia Corporation’s announcement of a 10-for-1 stock split, which will make its shares more affordable for individual investors. The split will increase the number of outstanding shares from around 2.5 billion to 25 billion. Existing shareholders will receive a dividend of nine additional shares for every share they own. The stock split will not change the company’s market capitalization or the proportionate ownership interest of shareholders. Nvidia’s shares have surged in recent years due to the growing demand for its chips used in artificial intelligence, data centers, and gaming. The stock split aims to make Nvidia’s shares more accessible to a broader investor base. It will take effect on July 20, 2023, for shareholders of record as of June 28, 2023. The split is subject to approval by Nvidia’s board of directors.
Source: https://abcnews.go.com/Business/wireStory/nvidia-10-1-stock-split-effect-after-stock-110979574