HomeTechnologyU.S. chipmaker Nvidia to replace Intel on Dow Jones index

U.S. chipmaker Nvidia to replace Intel on Dow Jones index

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Published November 02,2024


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U.S.-based chipmaker Nvidia will substitute one other semiconductor producer, Intel, on the Dow Jones industrial common inventory market index, S&P Dow Jones Indices introduced late Friday.

The change within the blue-chip index, which incorporates 30 outstanding American firms, will happen earlier than the Nov. 8 market opening.

“This procedure prevents any distortion in the indices’ reflection of the portion of the U.S. stock market it is designed to measure,” S&P Dow Jones Indices mentioned in an announcement.

While Nvidia shares soared greater than 170% with booming demand for synthetic intelligence, Intel’s inventory value plummeted over 50% because the starting of 2024.

Nvidia’s market worth stood at $3.32 trillion as of Friday, whereas Intel’s market cap was just under $99 billion.

Source: www.anews.com.tr

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