This change aims to “ensure more representative exposure to the semiconductor industry,” according to S&P.

A changing of the guard will take place before markets open on November 8 among publicly traded chipmakers, with graphics processing unit and artificial intelligence heavyweight Nvidia taking Intel’s place in the Dow Jones Industrial Average.

S&P Dow Jones Indices, the organization behind the DJIA, said in a statement Friday that the change was intended to “ensure more representative exposure to the semiconductor industry.”

“The DJIA is a price-weighted index, and therefore consistently low-priced stocks have minimal impact on the index,” according to S&P.

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Nvidia replaces Intel

CRN has contacted Nvidia and Intel for comment. Both chipmakers are based in Santa Clara, California.

The news comes a day after Intel reported a net loss of $15.64 billion in its latest quarterly earnings report using generally accepted accounting principles. Non-GAAP net loss was $1.98 billion.

The vendor said it expects revenue of $13.3 billion to $14.3 billion for the fiscal fourth quarter of 2024, down from the $15.4 billion the company reported for its activity. fourth fiscal quarter 2023.

Nvidia will release its next quarterly earnings report on November 20. In August, the editor reportedNet profit for the latest quarter of $16.6 billion, up more than 168 percent from the previous year.

Nvidia’s stock was up about 3% after the market closed Friday, trading at around $139 per share. Intel’s stock was down about 2 percent, trading at around $23 a share.