NEW YORK — Chip giant Nvidia will join the Dow Jones Industrial Average (DJIA), the iconic Wall Street index announced on Friday, underscoring the importance of artificial intelligence (AI) in the US economy.

The addition of Nvidia, which will take effect on Nov. 8, also marks a historic moment for the semiconductor industry, as the AI chip leader replaces struggling rival Intel, which has been on the Dow index since 1999.

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