Nvidia 10-for-1 stock split goes into effect after stock price for the chipmaker doubled this year

Associated Press

Nvidia’s 10-for-1 stock split is in effect, giving investors nine additional shares for every one that they already own. Nvidia’s stock price has more than doubled this year after more than tripling in 2023 and it’s now the third most valuable company in the S&P 500. The meteoric ride allowed Nvidia to briefly surpass Apple last week as the second most valuable company in the U.S. Nvidia surpassed $3 trillion in market value. The chipmaker has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications. The company’s revenue more than tripled in the latest quarter from the same period a year earlier.