Nvidia shares surged 9% to a record high above $1,000 on Thursday after another blowout earnings report, but the stock is about to get a lot cheaper as the AI chip leader announced a 10-for-1 split that will help retail investors more readily buy its shares.
Bank of America analysts, led by Jared Woodard, head of the bank’s research investment committee, described the share split as “another large-cap tech pursuing shareholder-friendly policies” in a Thursday note to clients. Nvidia is the fourth Magnificent Seven Big Tech company to announce a stock split since 2022, with Google, Amazon, and Tesla also “all making shares more accessible,” Woodard and his team noted.
