The hottest stock on Wall Street, Nvidia (NASDAQ: NVDA), is enacting a stock split on June 7. The following trading day, June 10, Nvidia's stock price will be reduced by one-tenth, causing the number of shares to increase tenfold. After that date, the stock will be trading for around $100 rather than $1,000.

Although stock splits excite investors, there are far better reasons to buy Nvidia's stock than just the stock split. I've come up with three good reasons, but many more could have been included.

Nvidia's incredible performance since the start of 2023 (the stock is up around 650%) has been directly tied to the artificial intelligence (AI) race. Nvidia's primary products are graphics processing units (GPUs), which are incredibly useful in processing AI models because they can compute in parallel. Because Nvidia's GPUs are best in class, they quickly became the top pick for anyone looking to increase their AI computing power dramatically.

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Source Fool.com