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KEY TAKEAWAYS
- Nvidia joined the Dow Jones Industrial Average Friday, replacing storied chipmaker Intel as the artificial intelligence darling cements its position as the world’s most valuable company.
- Nvidia shares, which are falling 1.2% in premarket trading, have risen nearly three-fold since the start of the year, driven by the AI frenzy, while Intel is down almost 50%.
- Paint maker Sherwin-Williams also became a member of the blue-chip index Friday, supplanting chemical giant Dow.
Nvidia (NVDA) joined the Dow Jones Industrial Average Friday, replacing storied chipmaker Intel (INTC) as the artificial intelligence (AI) darling cements its position as the world’s most valuable company.
The change took effect prior to the start of trading, according to S&P Dow Jones Indices, which manages the blue-chip index, in an announcement at the start of the month.
Nvidia shares, which are little changed in premarket trading, have risen nearly three-fold since the start of the year, driven by insatiable demand for the company’s family of AI chips— including its next generation Blackwell graphics processing units (GPUs). The AI boom has helped the chip designer to leapfrog Microsoft (MSFT) and Apple (AAPL) to become the most valuable publicly listed company in the world.
Intel Stock is Down Almost 50% This Year
Nvidia stock has hit record highs since the announcement of its inclusion in the blue-chip index at the start of the month.
In contrast, Intel shares are down almost 50% this year, as it struggles with a costly turnaround under Chief Executive Officer (CEO) Pat Gelsinger.
Paint maker Sherwin-Williams (SHW) also became a member of the blue-chip index Friday, supplanting chemical giant Dow (DOW).
Sherwin-Williams shares are unchanged in premarket trading, but are up 23% this year. Intel is down 1%.