Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel

Nvidia will replace Intel in the Dow Jones Industrial Average on November 8, marking a significant shift in the blue-chip index amid the growing influence of artificial intelligence in the semiconductor industry.

Nvidia’s shares have surged over 170% in 2024 and approximately 240% last year, driven by high demand for its AI graphics processing units (GPUs) from major companies like Microsoft and Amazon.

In contrast, Intel’s shares have fallen more than 50% this year due to increased competition and challenges in manufacturing, leading to plans for a workforce reduction of 16,500 employees.

The Dow will also see Sherwin Williams replace Dow Inc. in this reshuffle, CNBC has reported.

read more: https://www.cnbc.com/2024/11/01/nvidia-to-join-dow-jones-industrial-average-replacing-intel.html

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