Intel shares will be removed from the Dow Jones index after a 54% collapse

According to the television channel, Intel shares showed the worst performance of all companies included in the Dow Jones and turned out to be the cheapest securities in the index.

In turn, Nvidia shares are up more than 170% so far this year, after rising around 240% in 2023, CNBC noted. The growth was facilitated by investor interest in the maker of chips widely used in the field of artificial intelligence, the channel indicated.

At the close of trading on Friday, November 1, Nvidia shares on the Nasdaq were trading at $135.4 per share, up 1.99%. Intel shares were worth $23.2, up 7.81% at the close of the previous session.

As CNN points out, Intel has long been the leading chipmaker, but in recent years it has lost the lead to rival TSMC and missed out on the rise of generative artificial intelligence due to a series of mistakes, including the refusal to invest in OpenAI, the company that developed ChatGPT.

In March 2024, Nvidia introduced a new Blackwell GPU that is primarily designed for AI development and can provide twice the power for training AI models compared to the current generation of chips.

The Dow Jones is the oldest US index and covers 30 of the largest US companies, including Apple, Microsoft, IBM, Salesforce and Cisco Systems. This index is price-weighted: rises or falls in the prices of more expensive stocks affect it more than changes in the prices of cheaper stocks.