Nvidia CEO Jensen Huang speaks at the launch of the Gefion supercomputer, where the new AI supercomputer has been established in collaboration with EIFO and NVIDIA at the Vilhelm Lauritzen Terminal in Kastrup, Denmark October 23, 2024.
Ritzau Scanpix | Mads Claus Rasmussen Via Reuters
Nvidia changed Intel in the Dow Jones Industrial Average, a shakeup for the blue-chip index that replaces flagging semiconductor companies with the main vendors of GPUs for AI.
The switch will take place on November 8. In a separate move, Sherwin Williams will replace the Dow Inc. in the average as well, S & P Global said in a statement.
Nvidia shares are up more than 180% year to date in 2024 as investors see the company as the main beneficiary of the AI ​​boom.
On the other hand, Intel shares have fallen 51% so far this year as the company struggles with manufacturing, new competition for central processors, and the perception that it has missed the AI ​​trend.
The Dow contains 30 components and is weighted by the share price of individual stocks rather than the total market value of the company.
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