Nvidia is replacing Intel on the Dow Jones Industrial Average, a shakeup to the blue-chip index that replaces a flagging semiconductor company with the primary…
Nvidia is replacing Intel on the Dow Jones Industrial Average, a shakeup to the blue-chip index that replaces a flagging semiconductor company with the primary vendor of GPUs for AI.on the Dow Jones Industrial Average, a shakeup to the blue-chip index that replaces a flagging semiconductor company with the primary vendor of GPUs for AI.Shares of Nvidia have climbed over 180% so far in 2024 as investors have seen the company as the primary 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 its central processors, and the impression that it has missed out on the AI trend. The Dow contains 30 components and is weighted by the share price of the individual stocks instead of the companies total market value. Nvidia split its stock 10-1 in June.The switch is the first change to the index since February, when Amazon replaced Walgreens Boots Alliance. Over the years, the industrial-heavy Dow has been playing catch up and gaining exposure to the largest technology companies.Feeling out of the loop? We'll catch you up on the Chicago news you need to know.
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