Nvidia will replace Intel on the Dow Jones Industrial Average, in a move that underscores the growing influence of Gen AI and advanced computing.
The Santa Clara-headquartered tech giant has increased its stock price seven-fold in the past two years through its leadership in artificial intelligence technology, including with development of its Blackwell GPU architecture — what founder and CEO Jensen Huang described as “a processor for the generative AI era” when it was introduced in March at its Silicon Valley GTC AI conference.
Reflecting the company’s influence in media & entertainment, last week Huang accepted a Lifetime Achievement Award during the 76th Engineering, Science & Technology Emmy Awards. During his recorded acceptance speech, Huang asserted that AI is “fundamentally reshaping computing and will transform how stories are told, produced and experienced.”
Intel spent 25 years on the Dow but more recently has struggled, with shares having plummeted 54% during 2024. Founded in 1968, it quickly become a pillar of the Silicon Valley tech community through its development of memory cards before switching to processors at the boom of the personal computer craze.
Nvidia was founded in 1993. After its defunct NV1 graphics accelerator and failing to deliver on a deal with video game publisher Sega, the company was ready to go under by 1996. However, after the release of its RIVA 128, the company soared back to success, selling over 1 million units in roughly four months and quickly solidifying itself as a staple as a leader in computer graphics.
Also joining the Dow Industrial Average in the latest round of swaps, which will go into effect before the start of trading on Nov. 8, is paint manufacturer Sherwin-Williams. It was also announced that retail electricity and power generation company Vistra would join the Dow Jones Utility Average.
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