Alphabet Joins Dow Jones Industrial Average, Replacing Verizon

Alphabet, Google's parent company, has joined the Dow Jones Industrial Average (DJIA) as of Monday, June 29, 2026, replacing Verizon Communications in a move that highlights the growing importance of advertising and artificial intelligence (AI) in business. Alphabet's inclusion in the DJIA is expected to give the index more exposure to companies focused on AI technology.

The decision to drop Verizon after 22 years on the Dow index was based on two main reasons, according to reports. A company's influence on the index is determined by its single-share price, and unlike other major market indexes such as the S&P 500, which measures companies by total market capitalization, the DJIA is a price-weighted index.

Alphabet will make up 4% of the DJIA when it joins, while Goldman Sachs and Caterpillar make up more than 10% each. If the DJIA were market-cap weighted, as is the case for other benchmarks like the S&P 500 and Nasdaq composite, Alphabet would be in the top three.