Investors can own a slice of top artificial intelligence companies like Tesla, Nvidia, and Alphabet with this Ark Invest exchange-traded fund.

While Nvidia is considered the top player in the AI chip market, it utilizes TSMC's foundries for its chip manufacturing. Nvidia was TSMC's second-largest customer last year, accounting for 11% of the Taiwan-based foundry giant's revenue. This may lead investors to believe that TSMC's fortunes are dependent on Nvidia's.

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 has slipped by about 7% over the past month. The stock still makes a solid long-term buy, but another tech sector player is cheaper and may have stronger momentum right now. That said, Nvidia's stock isn't cheap,

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.