This remarkable growth is largely attributed to the soaring demand for Nvidia’s graphics processing units.
In stark contrast, Intel, a long-standing titan in the semiconductor industry, has faced significant challenges.
A pivotal point came when the company reported a $1.6 billion loss in the second quarter of 2024.
This poor showing led to a dramatic 30 percent overnight drop in Intel’s stock price in August.
In response to these challenges, Intel has announced significant cost-cutting measures, including a reduction of 16,500 employees.
For their part, Alphabet and Meta remain outside the index.
A strategic 10-for-1 stock split in May was instrumental in Nvidia’s journey to the Dow.
