Nvidia is joining the Dow Jones Industrial Average. A look at where one of the largest companies in the world will rank in the key market index.

Chipmaker Nvidia will replace Intel on the Dow Jones Industrial Average on Friday as the recent emergence of artificial intelligence continues driving Nvidia's value higher.

Most indexes, like the S&P 500 and Nasdaq Composite, assign a higher weighting to the largest companies by market cap. For example, Apple has roughly 11 times the market cap of Coca-Cola, so it has a much higher weighting in the S&P 500. But in the Dow, Apple is the 12th highest-weighted company by market cap because the index is price-weighted.

The move is intended to 'ensure a more representative exposure to the semiconductors industry,' according to S&P Dow Jones Indices.

The Dow Jones Industrial Average held most of its midday gains in the afternoon session Wednesday as an inflation report showed price gains were in line with estimates. Meanwhile, a company backed by artificial intelligence giant Nvidia took a dive in the stock market today.