NVIDIA Corporation (NASDAQ: NVDA) is set to replace Intel Corporation (NASDAQ: INTC) in the Dow Jones Industrial Average effective November 8, 2024, before the market opens. This move by S&P Dow Jones Indices aims to better represent the semiconductor industry within the index. NVIDIA has shown remarkable performance with its stock up 173% year-to-date, significantly outperforming Intel’s 54% decline. NVIDIA’s dominance in the AI chip sector is notable, with analysts from BofA Securities projecting the AI accelerator market to potentially grow to over $400 billion. NVIDIA is anticipated to capture 75% of this market share.
In another change, Sherwin-Williams Co (NYSE: SHW) will replace Dow Inc (NYSE: DOW) in the Dow Jones Industrial Average, as part of ongoing adjustments to better reflect the market and industry trends.
