NVIDIA Stock Soars on AI Boom, Plans 4-for-1 Stock Split

The article discusses NVIDIA’s impressive financial performance and its plans for a 4-for-1 stock split. NVIDIA, a leading producer of graphics processing units (GPUs) and artificial intelligence (AI) chips, reported record revenue of $7.19 billion for the first quarter of 2023, surpassing Wall Street’s expectations. The company’s data center business, which provides chips for AI and cloud computing, saw a staggering 66% year-over-year growth, driven by the increasing demand for AI applications. NVIDIA’s CEO, Jensen Huang, highlighted the company’s role in powering the AI revolution, stating that “the age of AI is upon us.” The company’s stock price surged over 25% following the earnings report, and NVIDIA announced plans for a 4-for-1 stock split, making its shares more accessible to a broader range of investors. The split is subject to shareholder approval and is expected to take effect in July 2023. NVIDIA’s strong performance and strategic moves position it as a key player in the rapidly growing AI industry.

Source: https://www.businessinsider.com/nvidia-stock-price-split-earnings-ai-tech-microchips-investing-index-2024-5