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Nvidia: ten-for-one stock split to take effect tonight

( - Nvidia's share price fell on Friday on the New York Stock Exchange, as the processor manufacturer will proceed with a ten-for-one stock split this evening.

At around 10:30 a.m., the AI chip specialist's shares were down 1.4%, giving it a market capitalization of $2.935 billion.

The stock split, which was made official on May 22 with the publication of the company's quarterly results, is designed to make the stock more accessible to investors and employees alike.

After a 270-fold increase in its share price in three years, the stock is now trading at around $1,200.

By way of illustration, based on the current share price, Nvidia shares would be trading at $119 next Monday when Wall Street reopens.

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