Stock splits tend to arrive after a company’s share price has climbed far past the range where most individual investors feel comfortable buying. Nvidia and Broadcom both crossed that line in 2024, and both acted. Since then, a fresh set of AI beneficiaries has run up its own share prices, and three are now in the territory where the question of a split is fair to ask.
None of them has announced anything. The interesting part is what each business looks like underneath the price tag.
Advanced Micro Devices (AMD): The Nvidia Challenger
AMD traded below $100 in early 2025. It now sits around $540, more than five times higher, as the company has gained ground as a serious rival to Nvidia. Data center sales more than doubled year over year in its latest quarter, which is the clearest sign that its AI business is gaining traction.
The company last split its shares in 2000 and has never traded at a price this high. Nvidia split after AI demand drove its stock sharply upward, and AMD could choose the same path if its climb continues.
The trade-off is valuation. At more than 40 times forward earnings, AMD has a lot of growth already built into its price, which leaves little cushion if results fall short.
GE Vernova (GEV): The Power Behind the Data Center
GE Vernova began trading in April 2024 after being spun off from General Electric, which now operates as GE Aerospace. It opened below $140 and now trades near $900.
The company builds gas turbines and other equipment that power plants depend on. As AI drives up electricity demand, GE Vernova has built a backlog that stretches several years. Small modular nuclear reactors give it another potential avenue for growth.
A split isn’t certain, but a share price around $900 supported by these tailwinds makes it plausible. Like AMD, it trades at more than 40 times forward earnings, so expectations are already high.
Sandisk (SNDK): From Spin-Off to Roughly $1,260
Sandisk is the most dramatic story of the three. It became an independent company in 2025, starting out at under $40 per share. It now trades around $1,260, even after pulling back from its high, and its market value is about $199 billion.
AI data centers need huge amounts of storage, and that has driven strong demand for Sandisk’s flash memory products. Even after such a steep rise, the stock trades at only about 6.4 times forward earnings, a low multiple that might give management confidence to split.
The catch is that memory is a historically volatile business, and Sandisk’s earnings rise and fall with the cycle.
A Split Is a Side Note, Not a Strategy
A stock split doesn’t change what a company is worth. It only changes the number of shares and the price of each one, which can make the stock more accessible to retail investors and easier to use in employee compensation.
For that reason, the possibility of a split shouldn’t be the reason to buy. Weighing each company’s business, its valuation, and its specific risks matters far more than whether a split announcement ever arrives.
