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

2025-05-01 17:32:21source:Safetyvalue Trading Centercategory:reviews

NEW YORK (AP) — Nvidia is XDY 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:reviews

Recommend

Dick Vitale announces he is cancer free: 'Santa Claus came early'

Legendary college basketball announcer Dick Vitale is once again cancer free.The ESPN analyst announ

When is Olympic gymnastics balance beam final? What to know about Paris Games event

A balance beam Olympic gold medal has evaded Simone Biles. Will she finally capture it at the 2024 P

Paris Olympics in primetime: Highlights, live updates, how to watch NBC replay tonight

NBC’s Olympics primetime schedule tonight has plenty of big moments to show from as the 2024 Paris G