Nvidia is set to take the place of Intel on the Dow Jones Industrial Average, marking the end of a significant 25-year presence for Intel, a leading player in the semiconductor industry. This change comes as Nvidia has captured a significant share of the market for chips tailored for artificial intelligence applications.
Additionally, the paint company Sherwin-Williams will take over the spot of the chemical firm Dow Inc. in this prestigious group of 30 stocks. The decision to make these adjustments, announced by S&P Dow Jones Indices on Friday, will go into effect on November 7. The changes are designed to provide a more accurate representation of the semiconductor industry as well as the materials sector.
The organization noted that the Dow is calculated based on stock prices, which means that stocks with lower prices can have a reduced influence on the index. In fact, Dow Inc., which specializes in chemicals and plastics, has been the smallest company within the Dow based on market capitalization, and it is distinct from the firm connected to the index itself.
Additionally, in a related change within the Dow Jones Utility Average, the Texas-based energy firm Vistra will replace AES Corp., which is based in Virginia.
