Few companies have attracted more attention this year than Nvidia. The chipmaker is on a roll thanks to the rapid rise of artificial intelligence, and its revenue, earnings, and stock price continue to grow incredibly fast. Nvidia's shares are up by 137% this year.

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.

NVIDIA Corporation NVDA has crushed bubble fears and has seen a meteoric rise in the past few years amid the advent of artificial intelligence (AI). CEO Jensen Huang, however, believes NVIDIA’s growth story is just beginning,

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.