Nvidia Stock Reaches All-Time High After Impressive Earnings and Stock Split
Nvidia Stock Reaches All-Time High
Shares of chipmaker Nvidia reached an all-time high following better-than-expected first-quarter earnings and the announcement of a 10-for-1 stock split. Nvidia was trading at roughly $1,051 per share on Thursday, significantly surpassing the previous record high of about $950. The company reported expected revenue of approximately $26 billion, exceeding Wall Street projections by nearly $2 billion, according to CNBC.
AI Chipmaker Dominance
Nvidia has emerged as the powerhouse chipmaker in the artificial intelligence (AI) industry. The company specializes in graphic processing units (GPUs) crucial for running complex AI models, contributing to its significant stock growth of over 242% this year. The stock has skyrocketed by 2,800% since the same week in 2019, when prices were below $40.
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