Nvidia To Take Intel’s Place in the Dow Jones Industrial Average

AI darling Nvidia (NVDA) is set to join the Dow Jones Industrial Average, replacing popular chip maker Intel (INTC).

The change will take effect before the start of trading next Friday, November 8, according to Standard & Poor’s Dow Jones Indices, which manages the leading index.

Paint maker Sherwin-Williams (SHW) is also set to join the index, replacing chemical giant Dow (DOW).

Nvidia shares rose 3% in extended trading Friday after the news, while Sherwin-Williams shares jumped 5%. The stock price of Dow Jones fell, as did the stock price of Intel.

The change comes after big gains for Nvidia, while Intel struggles

The announcement comes after a busy year so far for Nvidia, with shares doubling in value since the start of 2024 as demand for its AI chips soars.

The chip maker recently overtook Microsoft ( MSFT ) as the world’s second-largest company by market cap and is closing in on Apple ( APPL ) for first place.

Meanwhile, Intel shares have lost more than half their value since the beginning of the year, as the chipmaker undergoes a massive restructuring to turn the business around. That’s despite rising nearly 8% in Friday’s regular session after the chipmaker reported better-than-expected third-quarter sales.