Nvidia has announced it will join the Dow Jones ahead of trading on Nov. 8, replacing Intel in a move that reflects its growing dominance in the AI sector.
The change follows a significant 900% rise in Nvidia shares over the past two years, cementing its position as one of the most prominent companies in the market.
The update is the second in this year’s Dow Jones after Amazon joined, reflecting the index’s shift to represent the strongest companies in the market.
In contrast, Intel faces significant challenges that have affected its performance, forcing it to cut spending and cut jobs.
Nvidia wrapped up the week with a market cap of $3.32 trillion, just $50 billion from Apple.
Its shares rose 3.2% in post-market trading, which could put it in a position to overtake Apple as the world’s most valuable company on Monday if that rally continues.
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