Most market watchers would agree that one of the dominant forces driving the market rally over the past year is advancements in the field of artificial intelligence (AI). On the other hand, investors have kept a sharp eye on the trajectory of the economy as inflation continues to wane. Recent economic indicators suggest conditions are ripe for the Federal Reserve Bank to begin interest rate cuts, which could happen as soon as later this month.

Investors have also been keenly interested in the rate of AI adoption, looking for indicators that this trend still has legs, and recent results suggest these secular tailwinds continue to blow.

With that as a backdrop, semiconductor specialist Broadcom (NASDAQ: AVGO) soared 20.7% this week, AI chip specialist Nvidia (NASDAQ: NVDA) surged 17.1%, and database and AI cloud provider (NYSE: BBAI) climbed 13.9%, as of 2:57 p.m. ET on Thursday, according to data provided by S&P Global Market Intelligence.

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Source Fool.com