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STORY: Nvidia’s stock split went into effect Monday, a move that could lure new retail investors to buy into the chip-makers high-flying valuations.

Investors received 10 shares for each share they owned, dropping the price per share to $120 from $1200, without changing the market cap.

Strategists say the move could lead the dominant AI chip maker to join the Dow Jones Industrial Average, potentially replacing fellow chip company Intel.

An S&P Dow Jones Indices spokeswoman late in May said it does not comment or speculate on index additions or deletions.

Nvidia’s shares were down fractionally in Monday morning trading but have risen nearly 27% since the company announced the share split and a strong forecast last month.

It also topped $3 trillion in market value last week and surpassed Apple to become the second-most valuable firm in the world, trailing only Microsoft.