FILE - CEO Jensen Huang walks on stage before the keynote address of Nvidia GTC in San Jose, Calif., Monday, March 18, 2024. Nvidia’s stock price has jumped 92% this year as of Wednesday, May 22, increasing the company’s market value by more than $1 trillion. Those numbers are headed higher again Thursday after the company reported better-than-expected quarterly results. stock price has jumped 92% this year as of Wednesday, increasing the company’s market value by more than $1 trillion.
The chipmaker has seen soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. The company’sIt’s the latest sign that the excitement surrounding artificial intelligence likely won’t subside anytime soon. Nvidia, which has positioned itself as one of the most prominent players in AI, has been producing some eye-popping numbers. Here’s a look:The amount Nvidia Corp.’s market value has increased so far this year as of May 22, according to FactSet.
Nvidia’s price at the opening of trading Thursday, making it just the ninth company in the S&P 500 with a share price over $1,000 That will soon change however. On Wednesday, Nvidia announced that it plans a 10-for-1 stock split, meaning there will be 10 times more shares outstanding, but the price of each will be closer to $100 each. The company said the split, effective after markets close on June 7, will make its shares more accessible to employees and investors.