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Intel has been removed from the Dow Jones Industrial Average due to its plummeting stock price, replaced by Nvidia, which has surged to become the second most-valuable public company. This change enhances the representation of the semiconductor sector in the index, which now includes four of the six trillion-dollar tech companies. Nvidia's entry, alongside Sherwin-Williams replacing Dow Inc., will adjust the technology sector's weighting to approximately 19.5%.
Nvidia is set to join the Dow Jones Industrial Average, marking a significant milestone for the chipmaker following its recent stock split. As the 21st most-expensive stock in the index, Nvidia is expected to have a notable influence, with an estimated daily movement of around $4.40, ranking it as the eighth-largest contributor based on share price and volatility. This addition underscores the evolving dynamics of price-weighted indexes in the context of modern trading practices.
SK Hynix is expediting the release of its next-generation AI memory chips, following a request from Nvidia CEO Jensen Huang to provide samples six months earlier than planned. This move highlights the ongoing global demand for advanced semiconductors, particularly high-bandwidth memory chips (HBM4). Huang's focus on speed has been a key factor in his leadership success, as noted by SK Group Chairman Chey Tae-won during the SK AI Summit in Seoul.
Philips is advancing healthcare with innovative AI solutions, launching products like the CT 5300 scanner and Smart Quant Neuro 3D for brain disorder diagnostics. The company is also expanding partnerships, notably with AWS, to enhance pathology image analysis and streamline workflows. Meanwhile, residents of "Cancer Alley" in Louisiana face severe pollution and health risks, with new research indicating that cancer risks from ethylene oxide exposure are significantly underestimated, exacerbating the community's plight.
India's Supreme Court is exploring a partnership with NVIDIA, led by Jensen Huang, to establish a fully integrated data center to enhance its IT capabilities. The court is evaluating the feasibility and management of NVIDIA's GPUs to support critical business applications. Huang's visit to India included an interest in meeting Chief Justice DY Chandrachud, though scheduling conflicts prevented it.
The S&P 500 aimed to end a three-day losing streak, buoyed by lower bond yields despite recent increases. Tesla shares surged 14.5% after strong quarterly EPS results and optimistic growth forecasts from Elon Musk, while Honeywell and Dover faced declines following mixed quarterly results and guidance adjustments.
Nvidia has announced significant partnerships in India, including a collaboration with Reliance to build AI infrastructure and the launch of a Hindi language model, Nemotron-4-Mini-Hindi 4B. CEO Jensen Huang emphasized India's transition from software export to AI export, predicting a 20-fold increase in computing power by year-end. The company is also training 500,000 developers in AI technologies, aligning with India's ambitions to enhance its semiconductor industry and establish itself as a major tech player.
India is rapidly emerging as a global innovation hub, with NVIDIA enhancing its commitment to artificial intelligence through strategic partnerships with local IT firms. CEO Jensen Huang highlighted the country's robust digital connectivity, predicting a nearly 20-fold increase in computing capacity by year-end.Mukesh Ambani, Chairman of Reliance Industries, emphasized the significance of NVIDIA's infrastructure, likening it to JIO's transformative impact on telecom. The collaboration aims to develop AI supercomputers and applications for Reliance’s 450 million JIO customers, leveraging the Grace Hopper superchip to accelerate AI solutions across sectors like healthcare and climate research.
Mukesh Ambani, Chairman of Reliance Industries, praised Meta founder Mark Zuckerberg for making the Llama language open source, stating, "Zuckerberg will go down in history for doing this." This remark was made during a discussion with Nvidia's Jensen Huang in Mumbai on October 24. The Llama language, released by Meta in February 2023, is a family of autoregressive large language models, and Reliance is collaborating with Nvidia to develop AI infrastructure in India.
NVIDIA's Jensen Huang announced that the highly anticipated Blackwell chips will begin shipping in the fourth quarter, with production ramping up at TSMC. These chips are set to enhance performance and efficiency in AI, data centers, and gaming, solidifying NVIDIA's GPU market leadership. The global GPU market is projected to grow from $65.3 billion in 2024 to $274.2 billion by 2029, at a CAGR of 33.2%.
Jensen Huang
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nvidia replaces intel in dow jones industrial average amid tech sector shift
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