Nvidia's replacing Intel on the Dow has been a long time coming. Intel has been the only pure-play semiconductor stock on the Dow, but the industry has taken on increasing importance in the AI era, and nearly every chip stock has soared -- with the notable exception of Intel.

Among the Dow’s newest members, it was paint, not chips, aiding the index today. The Dow Jones Industrial Average finally replaced Intel with Nvidia, but the AI chip titan was actually hurting the blue-chip index in its debut performance.