Nvidia (NVDA) joined the Dow Jones Industrial Average Friday, replacing storied chipmaker Intel (INTC) as the artificial intelligence (AI) darling cements its position as the world’s most valuable company.
The change took effect prior to the start of trading, according to S&P Dow Jones Indices, which manages the blue-chip index, in an announcement at the start of the month.
Nvidia shares, which are little changed in premarket trading, have risen nearly three-fold since the start of the year, driven by insatiable demand for the company’s family of AI chips— including its next generation Blackwell graphics processing units (GPUs). The AI boom has helped the chip designer to leapfrog Microsoft (MSFT) and Apple (AAPL) to become the most valuable publicly listed company in the world.
Nvidia stock has hit record highs since the announcement of its inclusion in the blue-chip index at the start of the …