Nvidia will replace Intel in the Dow Jones Industrial Average on November 8, marking a significant shift in the blue-chip index amid the growing influence of artificial intelligence in the semiconductor industry.

Nvidia’s shares have surged over 170% in 2024 and approximately 240% last year, driven by high demand for its AI graphics processing units (GPUs) from major companies like Microsoft and Amazon.

In contrast, Intel’s shares have fallen more than 50% this year due to increased competition and challenges in manufacturing, leading to plans for a workforce reduction of 16,500 employees.

The Dow will also see Sherwin Williams replace Dow Inc. in this reshuffle, CNBC has reported.

This change highlights the ongoing transformation in the tech sector, as four of the six trillion-dollar tech companies are now represented in the index.

Written by B.C. Begley