AI chipmaker Nvidia (NVDA) has officially joined the Dow Jones Industrial Average (^DJI), cementing the tech giant's significance in the artificial intelligence era. Despite a broader decline in chip stocks Friday afternoon,

Nvidia has become a member of the Dow Jones Industrial Average Friday, replacing storied chipmaker Intel as the artificial intelligence darling cements its position as the world’s most valuable company.

In fact, fellow Dow newbie Sherwin-Williams Co. with a market cap of $97.67 billion, is nearly three times more influential. Read: Nvidia to replace Intel in the Dow, underscoring

Chip maker Nvidia and paint maker Sherwin-Williams join the Dow Jones Industrial Average today. While the move is symbolically important, it is unlikely to lead to any more demand for the stocks. The two companies are replacing Intel and Dow Inc.