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.
Intel reported a revenue beat but a huge EPS miss due to restructuring and impairment charges. The company mentioned a key partnership with Amazon Web Services for next generation CPUs on built on Intel 3 and an "AI fabric chip" built on Intel 18A. While challenges and risks remain, I upgrade Intel to a Buy and believe this is a turning point.
Nvidia (NASDAQ: NVDA) is set to officially join the 30-member Dow Jones Industrial Average (DJIA) on Friday, November 8, replacing Intel (NASDAQ: INTC), which has held its spot in the index since 1999.
Nvidia stock will replace Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. Intel had held the position for 25 years, and the shift represents a shake-up among the tech titans.
The change, starting next Friday, lifts a dominant player in artificial intelligence over its chip-making rival, which has struggled to keep up.
Intel's Q3 report arrived with some encouraging numbers, and CEO Pat Gelsinger shared some key information about the company's future.
Artificial intelligence darling Nvidia (NVDA) is set to join the Dow Jones Industrial Average, replacing storied chipmaker Intel (INTC).
Nvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. The news follows a series of setbacks for Intel, the storied, nearly six-decade-old chipmaker.
The swap reflects their reversal of fortunes within the tech industry and would have been unthinkable a few years ago.
Intel has missed the boat on AI while Nvidia has thrived.
Intel will lose its spot in the Dow Jones Industrial Average after a 25-year run to Nvidia , S&P Dow Jones Indices said on Friday, the latest blow to the struggling chipmaker that was among the first two technology firms to be included in the blue-chip index.
Since I initiated a “Sell” rating on Intel Corporation in November 2023, the stock price has declined by more than 49%, compared to 26% positive return in the S&P 500. I think the near-term weakness is already reflected in their stock price, and Intel is making progress on its 18A process launch. Notably, beyond AWS, Intel added two 18A wafer design wins during the quarter from compute centric companies.