Nvidia’s stock historically has made dramatic moves in the year after initial Fed interest-rate cuts, and it has outperformed the S&P 500 on average when looking at all rate cuts since the IPO.

It's been quite the year for artificial intelligence (AI) chipmaker Nvidia ( NVDA 4.57%), which has seen its stock rise more than 161% year to date. Over the last five years, Nvidia's stock is up by more than an astounding 2,560%.

The central bank's decision to slash borrowing costs by 50 basis points is easing concerns about the economy. That could lift the AI trade.

Nvidia stock dipped on Monday, giving back some of last week’s gains as the semiconductor giant’s stretch of stock volatility continued.

Are these two high-growth artificial intelligence (AI) stocks the next Nvidia? For much of the last two years, no trend has captivated the attention of investors quite like artificial intelligence (AI).

It’s Fed decision day—and it'll be difficult for the chip maker's shares to make gains until investors have more clarity about the central bank's next move.