NVIDIA Completes 10-for-1 Stock Split

Massive Drop in Market Value

Split Effective Immediately

Santa Clara, CA, June 20, 2023 - NVIDIA Corporation (NASDAQ: NVDA) today announced the completion of its previously announced 10-for-1 stock split. The split was approved by shareholders at the company's annual meeting on June 14, 2023.

As a result of the split, each NVIDIA shareholder of record as of the close of business on June 19, 2023, received nine additional shares of NVIDIA common stock for each share they held. The new shares began trading on a split-adjusted basis on June 20, 2023.

The stock split was implemented to make NVIDIA's shares more accessible to a broader range of investors. The split does not affect the underlying value of NVIDIA's business or its financial performance.

NVIDIA's stock price has been on a tear in recent years, driven by the growing demand for its graphics chips. The stock reached an all-time high of $346.47 on June 14, 2023, giving NVIDIA a market capitalization of over $500 billion.

However, NVIDIA's stock price has since fallen sharply, closing at $295.78 on June 19, 2023. The stock split is expected to provide some relief to investors who have been concerned about NVIDIA's high stock price.