AI chipmaker Nvidia is set to replace Intel in the Dow Jones Industrial Average, as announced by S&P Dow Jones Indices.
The change, scheduled to take place on Friday, highlights Nvidia’s significant influence in the artificial intelligence (AI) sector. The company will join the index alongside paint-maker Sherwin-Williams.
According to S&P Dow Jones Indices, this adjustment ensures a more accurate representation of the semiconductor industry within the index. Nvidia’s strategic focus on AI has led to its dominance in AI chip sales, positioning it as the world’s second-most-valuable company, just behind Apple, with a valuation of $3.32 trillion.
Intel, known for its computer chips, once contemplated acquiring Nvidia in an acquisition that never materialised. The company’s shares have declined 54% this year, making the company the worst performer on the index.
