Nvidia Attracts Retail Buzz As AI Stalwart All Set To Join Dow Jones Industrial Average

S&P Dow Jones Indices announced late Friday that Nvidia Corp. ($NVDA) will replace Intel Corp. ($INTC) in the 30-stock Dow Industrials Average, effective ahead of the market open on Nov. 8.

The move is a validation of Nvidia’s AI prowess and potential as it has climbed the ranks and is currently breathing down Apple, Inc.’s ($AAPL) neck to become the world’s most valued corporation.

Nvidia closed Friday’s trading session up 1.97% at $135.37, ending with a market cap of $3.321 trillion compared to Apple’s $3.369 trillion. 

Apple, Microsoft Corp. ($MSFT), International Business Machines Corp. ($IBM), Salesforce, Inc. ($CRM) and Cisco Systems, Inc. ($CSCO) are the tech names that are currently part of the Dow 30, which is weighted by stock price of the components.

Barring any U.S. presidential election and/or macroeconomy-related weakness, Nvidia could add more mass ahead of its Nov. 20 quarterly results.

A New York Post exclusive report said Nvidia is in talks to invest in Elon Musk-led xAI after a Wall Street Journal report said the latter is scouting for venture capital investment that would value it at about $40 billion.

Retail went berserk over Nvidia’s Dow inclusion. A Stocktwits user said Nvidia has too many tailwinds to fail. Another sees the stock hitting $150 by the end of this week.

https://stocktwits.com/bigmoney2002/message/59106168

Another sounded a note of caution. The user said portfolio managers may wait out to see whether there is an election dip. “So don’t be shaken if you see some pretty erratic stock action in the next few days,” the user said.

Some were negative about Nvidia as well, calling it a “scam” company

Nvidia is the second best-performing S&P 500 stock this year, having gained over 173%,

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