Nvidia Shares Touches All Time Highs after Announcing a Stock Split and Forecasting Quarterly Revenue Above Estimates

Shares of Nvidia reached a record high after the chipmaker forecast quarterly revenue above estimates and announced a stock split.

Nvidia shares continued their AI driven surge, jumping 5.9% to $1,005 in extended trade on Wednesday, and adding about $140 billion in stock market value.

Nvidia announced it would split its stock ten-for-one, effective on June 7. It also said it was raising its quarterly dividend by 150% to 1 cent per share, on a post-split basis.

Nvidia forecast fiscal second-quarter revenue of $28 billion, plus or minus 2%, beating analysts’ expectations of $26.66 billion.

First-quarter revenue surged 262% year-over-year to $26.04 billion, beating estimates of $24.65 billion. Net income soared 628% to $14.88 billion.

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