Important points
Nvidia (NVDA) on Friday joined the Dow Jones Industrial Average on behalf of famed chipmaker Intel (INTC) to solidify its position as the world’s most valuable artificial intelligence (AI) darling. I did.
S&P Dow Jones Indices, which manages the blue-chip stock index, said in an announcement earlier in the month that the changes took effect before trading began.
Nvidia shares, little changed as of Friday, have nearly tripled since the beginning of the year, driven by insatiable demand for the company’s AI chip family, which includes next-generation Blackwell graphics processing units (GPUs). . Thanks to the AI boom, the chip designer has overtaken Microsoft (MSFT) and Apple (AAPL) to become the world’s most valuable publicly traded company.
Intel stock is down almost 50% this year
NVIDIA stock has hit a record high since its inclusion in the blue-chip index at the beginning of the month.
By contrast, Intel’s stock price has fallen almost 50% this year as the company struggles with a costly turnaround under CEO Pat Gelsinger.
Paint maker Sherwin-Williams (SHW) also joined the blue-chip index on Friday, replacing chemical giant Dow (DOW).
Sherwin-Williams’ stock price is unchanged, but it’s up 23% this year. Intel was down about 1% on Friday.
Updated—November 8, 2024: This article has been updated to include the latest stock prices.
