Chipmaker's revenue more than tripled in latest quarter as demand for its semiconductors — used to power AI applications — has soared over the past year.
Shares chipmaker Nvidia Monday are trading at a fraction of what they were last week, as the result of the company's 10-for-1 stock split, which went into effect at the close of trading on Friday. The move gives each investor of the AI titan nine additional shares for every share they already own.Shares declined slightly to $119.77 shortly after the market open on Monday.
Earlier this year, it passed Amazon and Alphabet to become the third most valuable public company, behind Microsoft and Apple . The company was valued at around $418 billion two years ago.That's the one-day increase in Nvidia's market value on Wednesday.Companies often conduct stock splits to make their shares more affordable for investors. Nvidia's stock closed Wednesday at $1,224.40 and it's just one of 11 companies in the S&P 500 with a share price over $1,000.
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