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The Dow needs Nvidia to give chipmakers representation in index after Intel's plunge
Intel has fallen so far so fast that the chipmaker's stock price is no longer having an impact on the Dow Jones Industrial Average.
In getting trounced by Nvidia in artificial intelligence while also losing share of its core PC and data center processor market, Intel has seen its stock price plummet by more than half this year, closing on Friday at $23.20. "A big part of the decision is that semis weren't being represented," Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, said in an interview. On a market cap basis, Nvidia would be worth an outsized 18% of the index, but its stock price will give it just the 21st highest weighting, behind Chevron and ahead of 3M.
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