{"id":643234,"date":"2024-11-02T23:24:20","date_gmt":"2024-11-02T20:24:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nvidia-replaces-intel-on-the-dow-index-in-ai-driven-shift-for-semiconductor-industry\/"},"modified":"2024-11-02T23:24:20","modified_gmt":"2024-11-02T20:24:20","slug":"nvidia-replaces-intel-on-the-dow-index-in-ai-driven-shift-for-semiconductor-industry","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nvidia-replaces-intel-on-the-dow-index-in-ai-driven-shift-for-semiconductor-industry\/","title":{"rendered":"#Nvidia replaces Intel on the Dow index in AI-driven shift for semiconductor industry"},"content":{"rendered":"
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\n The logo of semiconductor chip maker Intel is pictured at the Paris game<\/a>s week in Paris, Nov. 4, 2017. Credit: AP Photo\/Christophe Ena, File
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Nvidia is replacing Intel on the Dow Jones Industrial Average, ending a 25-year-run for a pioneering semiconductor company that has fallen behind as Nvidia cornered the market for chips that run artificial intelligence systems.<\/p>\n

Paint-maker Sherwin-Williams will also replace chemical company Dow Inc. among the companies that make up the 30-stock average.<\/p>\n

S&P Dow Jones Indices said Friday that the changes that take effect Nov. 7 “were initiated to ensure a more representative exposure to the semiconductors industry and the materials sector respectively.”<\/p>\n

It added that because the Dow is price-weighted, “persistently lower priced stocks have a minimal impact.”<\/p>\n

Dow Inc., a major producer of chemicals and plastics and unrelated to the similarly named company behind the index, has also been the smallest company on the Dow in terms of market capitalization.<\/p>\n

Intel’s share price has dropped more than 50% so far this year to $23.20. On Thursday, the California chipmaker reported third-quarter revenue of $13.3 billion, down 6% from the same period last year.<\/p>\n

Intel CEO Pat Gelsinger said at the time that the company is “acting with urgency” on a plan to reduce costs and simplify its portfolio. By contrast, Nvidia’s shares have risen more than 173% this year to a price of $135.40.<\/p>\n

Unlike Intel, Nvidia designs but doesn’t manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Company, an Intel rival.<\/p>\n

In another index, the Dow Jones Utility Average, Texas-based energy company Vistra will replace Virginia-based AES Corp.<\/p>\n

\n \u00a9 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.\n <\/p>\n

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