Nvidia Announces Stock Split, Sending Shares Soaring

Tech giant follows in footsteps of Google, Tesla

Split will make shares more affordable for individual investors

Nvidia Corp. (NVDA) announced plans for a 10-for-1 stock split on Wednesday, becoming the latest tech giant to take such a move. The split will see each existing share of Nvidia stock split into 10 new shares. The split is expected to take effect on July 20, 2023, with shares trading on a split-adjusted basis on July 21, 2023.

The announcement sent Nvidia shares soaring in after-hours trading, with the stock closing at $122.44 per share, up 9% from the previous close. The stock split is seen as a positive move by investors as it makes shares more affordable for individual investors and can potentially increase liquidity.

Nvidia is the third major U.S. company to announce a stock split this year, following Alphabet Inc. (GOOGL) and Tesla Inc. (TSLA). The move by Nvidia is seen as a sign of confidence in the company's future and is likely to be well-received by investors.