The technology company Nvidia will replace Intel in the Dow Jones Industrial Average on November 8 to guarantee a “more representative exposure to the semiconductor industry,” the owner of the index announced this Friday.
In a statement, S&P Dow Jones Indices also announced that paint manufacturer Sherwin-Williams will replace the industrial Dow Inc to improve the index’s exposure to the basic materials sector.
Nvidia, the leading chip manufacturer in Artificial Intelligence (AI), has appreciated nearly 170% this year and is the second largest listed company in the world, while Intel is at the other end of the scale: in the middle of a restructuring which has cut its capitalization in half.
The Dow Jones index has 30 components that the manager selects following a weighting system for share prices so that it is representative of the American economy.
Last February another large technology company entered the index, when Amazon replaced Walgreens.
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