Monday morning, following the news that the AI chipmaker would be joining the Dow Jones Industrial Average as one of the top 30 major U.S. stocks, Nvidia's (NASDAQ:NVDA) share jumped 1%. Nvidia's inclusion in the list underscores its growing impact in AI and technology, replacing longtime Dow member Intel (INTC), which dropped 4% on the announcement. The rearranging starts at the end of this week.
The relocation captures a larger market change toward AI-driven expansion. Driven by demand for its Hopper chips, which enable advanced generative AI models, Nvidia, known for its high-performance AI chips, has acquired superb momentum this year. Nvidia unveiled its next-generation Blackwell AI chip platform in March, and it has also found great demand, which helps to explain record-high earnings and a price approaching $3 trillion.
Furthermore, earlier this year's stock split by Nvidia attracted additional investors, which has driven a 173% increase in share price YTD and a 193% rise over the last year. With a stunning 2,498% increase over the past five years, Nvidia's stock confirms its leadership in the tech and AI markets.