Back in the dot-com boom era, stock splits became commonplace in response to soaring share prices. Amid the current artificial intelligence (AI) boom, a similar pattern could be developing. Already, several AI companies have split their shares, and more splits could be on the way among the others that are trading at lofty prices.

Plenty of AI stocks trade down from their recent peaks, and the Nasdaq Composite, the tech-heavy index, hit an intraday peak on July 11. The index is down 5.5% from that peak after a recent recovery. Similarly, the VanEck Semiconductor ETF, which is led by the chip stocks that are key in the AI rally, is down 18% from its peak on the same day.

And today, with prices of AI stocks still reaching well into the hundreds of dollars, the stock split wave isn't over. In fact, one stock in particular looks like an excellent candidate thanks to its solid growth in recent years, top share price performance, and long-term prospects.

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