Nvidia Overtakes Intel in the Dow Jones Industrial Average

On Friday, Nvidia (NVDA) replaced Intel (INTC) in the Dow Jones Industrial Average, thus asserting its position as the world's most valuable company. According to the S&P Dow Jones Indices, which runs the blue-chip index, the shift took effect before trading started. Nvidia shares have dramatically risen by almost three-fold since the beginning of the year, with little change noted on Friday. This growth is largely attributed to the company's popular AI chips, including the next-generation Blackwell graphics processing units (GPUs). Nvidia's success with AI technology has enabled it to surpass other tech behemoths like Microsoft (MSFT) and Apple (AAPL), making it the top publicly listed company globally. Meanwhile, Intel's shares declined nearly 50% this year amid a challenging and expensive turnaround led by CEO Pat Gelsinger. Sherwin-Williams (SHW), the paint manufacturer, also joined the blue-chip index on Friday, replacing chemical titan Dow (DOW). Sherwin-Williams shares have increased by approximately 23% this year, despite remaining unchanged on Friday. Intel stock, however, fell by almost 1% on the same day.