NEW YORK – Nvidia replaces Intel on the Dow Jones Industrial Average, ending a 25-year run for a pioneering semiconductor company who was left behind that Nvidia has cornered the market for chips running artificial intelligence systems.

Paint maker Sherwin-Williams will also replace chemical company Dow Inc. among the companies that make up the 30-stock average.

S&P Dow Jones Indices said on Friday that the changes, which take effect on Nov. 7, “were initiated to provide more representative exposure to the semiconductor industry and the materials sector, respectively.”

It added that because the Dow is price-weighted, “stocks with consistently lower prices have minimal impact.”

Dow Inc., a major chemical and plastics maker and unrelated to the similarly named company behind the index, was also the smallest company on the Dow by market capitalization.

Intel’s share price has fallen more than 50% this year to $23.20. On Thursday, the California-based chipmaker reported revenue of $13.3 billion in the third quarter, down 6 percent from the same period last year.

Intel CEO Pat Gelsinger said at the time that the company was “acting with urgency” on a plan to cut costs and simplify its portfolio. In contrast, Nvidia shares are up more than 173% this year at $135.40.

Unlike Intel, Nvidia designs but does not manufacture its own chips, relying heavily on Taiwan Semiconductor Manufacturing Company, an Intel rival.

In another index, Texas-based Dow Jones Utility Average energy company Vistra will replace Virginia-based AES Corp.