AI chip manufacturer Nvidia is set to replace Intel in the Dow Jones Index as the latter’s shares have declined by more than 50 percent this year.
Nvidia will be included in Dow Jones beginning Nov. 8, S&P Dow Jones Indices said in a Nov. 1 statement.
Intel is currently the worst performing stock in the Index this year, whereas Nvidia briefly became the most valuable company in the world last week, dethroning Apple. It is currently the second largest company by market cap, with Intel in the 165th position.
S&P said the index changes “were initiated to ensure a more representative exposure to the semiconductors.”…