Tech giant Nvidia is taking advantage of a strong opening to the year with a 10-for-one stock split.

The artificial intelligence and computer hardware company announced the split in its first quarter earnings call last week.

The company reported a more than 260% increase in revenue compared to the first quarter in 2023, while data center revenue jumped 427% from last year to $22.6 billion. The increase is fueled in part by the demand for generative AI training, the company said.

“The next industrial revolution has begun,” Jensen Huang, Nvidia founder and CEO, said in a news release. “Companies and countries are partnering with Nvidia to shift the trillion-dollar traditional data centers to accelerated computing and build a new type of data center − AI factories − to produce a new commodity: artificial intelligence.”

Here’s what you need to know about Nvidia’s stock split.

When will Nvidia stock split?

Nvidia stock will split after the close of trading on June 7.

When do investors need to hold Nvidia stock to have it split?

Nvidia investors will need to hold the stock by the end of regular trading June 6 for their shares to be split.

When will Nvidia stock trade on the split basis?

Trading of Nvidia stock on the split basis will begin June 10.

The company will pay out a one cent per share dividend based on post-split holdings on June 28. Shareholders must have shares after market close on June 11 to receive the dividend.

What would the price of Nvidia be if it split today?

Nvidia stock closed trading Wednesday at $1,148.25 per share. It would be valued at $114.82 per share after the split.

This article originally appeared on USA TODAY: When does the Nvidia stock split happen? What you need to know