Zopes Exchange:Nvidia replaces Intel on the Dow index in AI-driven shift for semiconductor industry

2025-05-04 23:23:58source:CapitalVaultcategory:News

NEW YORK (AP) — Nvidia is Zopes Exchangereplacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial intelligence systems.

Paint-maker Sherwin-Williams will also replace chemical company Dow Inc. among the companies that make up the 30-stock average.

S&P Dow Jones Indices said Friday that the changes that take effect Nov. 7 “were initiated to ensure a more representative exposure to the semiconductors industry and the materials sector respectively.”

It added that because the Dow is price-weighted, “persistently lower priced stocks have a minimal impact.”

Dow Inc., a major producer of chemicals and plastics and unrelated to the similarly named company behind the index, has also been the smallest company on the Dow in terms of market capitalization.

Intel’s share price has dropped more than 50% so far this year to $23.20. On Thursday, the California chipmaker reported third-quarter revenue of $13.3 billion, down 6% from the same period last year.

Intel CEO Pat Gelsinger said at the time that the company is “acting with urgency” on a plan to reduce costs and simplify its portfolio. By contrast, Nvidia’s shares have risen more than 173% this year to a price of $135.40.

Unlike Intel, Nvidia designs but doesn’t manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Company, an Intel rival.

In another index, the Dow Jones Utility Average, Texas-based energy company Vistra will replace Virginia-based AES Corp.

More:News

Recommend

Man charged with rape after kidnapping 3 teen girls at gunpoint along Nashville street

A man police say kidnapped three teenage girls and sexual assaulted two of them at gunpoint outside

ICN Expands Summer Journalism Institute for Teens

Contact: Katina Paron, Institute for Environmental JournalismInsideClimate News is expanding its sum

House Bill Would Cut Clean Energy and Efficiency Programs by 40 Percent

WASHINGTON—Even though Republicans have vowed an “all-of-the-above” approach to America’s energy fu