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.

A Once-in-a-Decade Investment Opportunity: 1 Artificial Intelligence (AI) Semiconductor Stock to Buy Hand Over Fist Right Now (Hint: It's Not Nvidia)

Nvidia stock has traded in the red for the last two trading sessions, and technical indicators suggest possible further downside.

Analysts are expecting Nvidia stock to head higher in the next 12 months. The company's solid moat in the AI chip market could ensure healthy levels of growth in the coming year. Nvidia's improving earnings projections indicate that the chipmaker could indeed head higher and deliver robust gains over the next year.

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.