Nvidia (NASDAQ: NVDA) has split its stock five times since 2000. The most recent split was July 2021, when the company issued a 4-for-1 stock split -- meaning shareholders received four shares for every one share they held.

Stock splits are not free shares and don't change the overall value of the company. The main benefit of a stock split is that it makes a company's shares more affordable, and therefore more available to be purchased by a wider base of investors, especially those who can't buy fractional shares through their broker.

Many investors may want to invest in Nvidia but may not be able to afford to buy a single share after last year's performance. The shares soared 239% in 2023 and currently sit at $531. The last time Nvidia split its stock, the shares were trading at $748 -- a post-split price of $187.

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Source Fool.com