Nvidia will replace Intel in the Dow Jones Industrial Average

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Artificial intelligence darling Nvidia and paint maker Sherwin-Williams will join the Dow Jones Industrial Average, replacing Intel and chemical giant Dow.
The changes will take effect before the start of trading next Friday, November 8, according to S&P Dow Jones Indices.
Shares of Nvidia and Sherwin-Williams rose in extended trading on Friday after the news, while shares of the Dow and Intel edged lower.

Artificial intelligence dear Nvidia (NVDA) is set to join Dow Jones Industrial Averagereplacing the well-known chipmaker Intel (INTC).

The change will take effect before the start of trading next Friday, Nov. 8, according to S&P Dow Jones Indices, which manages the blue-chip index.

Paint manufacturer Sherwin-Williams (SHW) is also set to join the index, replacing chemical giant Dow (DOW).

Shares of Nvidia rose 3 percent in extended trading Friday on the news, while Sherwin-Williams rose 5 percent. The Dow’s share price fell, as did Intel’s.

The change comes after a terrible year for Nvidia as Intel struggles

The announcement comes after a torrid year so far for Nvidia, with shares doubling since the start of 2024 as demand for its AI chips has increased.

The recent chip maker surpassed Microsoft (MSFT) as the second largest company in the world by stock market capitalization and approached Apple (APPL) for first place.

Meanwhile, Intel shares have lost more than half their value since the start of the year as the chip maker undergoing a massive restructuring to turn the business around. That’s despite a nearly 8% pop in Friday’s regular session after the chipmaker reported better than expected sales for the third trimester.