NEW YORK (AP) – Nvidia replaces Intel on the Dow Jones Industrial Average, ending a 25-year history of the pioneering semiconductor company falling behind as Nvidia cornered the market for chips that run artificial intelligence systems. will be hit.
Paint maker Sherwin-Williams also plans to go public, replacing chemical company Dow in the 30-stock average.
S&P Dow Jones Indices said Friday that the changes, which will take effect Nov. 7, “were initiated to make our exposures to the semiconductor industry and materials sectors more representative, respectively.”
Additionally, because the Dow is price-weighted, “the impact of stocks with persistently low stock prices is minimized,” he added.
Dow is a major manufacturer of chemicals and plastics, and is the smallest company in the Dow by market capitalization, although it is not related to the similarly named companies that make up the index.
In another index, Texas-based energy company Vistra will replace Virginia-based AES Corp. as the Dow Jones Utilities Average.
