Nvidia To Replace Intel On Dow Jones Industrial Average

Intel will be replaced by Nvidia on the blue-chip Dow Jones Industrial Average index after a 25-year run, highlighting shifts in the chipmaking market and marking another setback for the struggling semiconductor firm, Reuters' Arsheeya Bajwa reported.

Nvidia will join the index next week, along with paint-maker Sherwin-Williams. I Photo: NVIDIA

Nvidia will join the index next week, along with paint-maker Sherwin-Williams, which will replace Dow, S&P Dow Jones Indices announced.

Once a dominant force in chipmaking, Intel has in recent years lost its manufacturing edge to rival TSMC and missed out on the generative artificial intelligence (AI) boom, following missteps that included passing on an investment in ChatGPT-owner OpenAI.

Intel's shares have fallen 54% this year, making it the worst performer on the index and giving it the lowest stock price on the price-weighted Dow. Intel's shares fell 1.6% in extended trading last week, while Nvidia’s rose 2.2%.

This development comes a day after Intel expressed optimism about the future of its PC and server businesses, projecting current-quarter revenue above estimates but cautioning that it still had "a lot of work to do."