Nvidia's stock has experienced a significant increase in 2024, with a rise of 171%. This growth can be attributed to the company's strong ties to artificial intelligence and the growing demand for its graphics processing units (GPUs) used in AI model training.
A stock split is a corporate action in which a company increases the number of its outstanding shares, consequently lowering the price per share. The purpose of a stock split is to make shares more affordable for smaller investors, increase liquidity, and potentially attract more investors due to the lower price per share.
In 2016, Nvidia's CEO Jensen Huang delivered the first AI supercomputer to ChatGPT creator OpenAI, which sparked a revolution in artificial intelligence.