Nvidia Stock Reaches All-Time High After Impressive Earnings and Stock Split

Thursday, 23 May 2024, 16:47

Nvidia's stock reached an all-time high following better-than-expected first-quarter earnings and the announcement of a stock split. The company reported revenue exceeding Wall Street's projections by nearly $2 billion. The 10-for-1 stock split will reduce the share price without diluting investor holdings. Nvidia's dominance in the AI chip market has propelled its stock over 242% since the beginning of the year.
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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.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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