The change will occur on November 8, according to S&P Global (SPGI), the company that manages the Dow Jones Industrial Average and is responsible

Nvidia (NVDA) to Replace Intel in the Dow Jones Industrial Average

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2024-11-01 23:30:03

The change will occur on November 8, according to S&P Global (SPGI), the company that manages the Dow Jones Industrial Average and is responsible for its composition. Additionally, S&P Global said that paint company Sherwin Williams (SHW) will replace chemical company Dow Inc. (DOW), also on November 8.

The switch between Nvidia and Intel is a significant shake-up for the Dow Jones Industrial Average, which is an index comprised of 30 blue-chip stocks that is meant to represent a cross-section of the U.S. economy. It also reflects the diverging fortunes of Nvidia and Intel.

Joining the Dow index is the latest achievement for Nvidia, whose stock has rallied 173% this year as demand for its microchips rises with the artificial intelligence (AI) boom. Nvidia is now one of only three companies that has a $3 trillion market capitalization, along with Microsoft (MSFT) and Apple (AAPL).

For Intel, being removed from the Dow 30 is another blow to the once-leading microchip company that has fallen on hard times. Intel’s stock has declined 53% this year as the company struggles to develop a foundry business and manufacture, as well as design, chips and processors.