The semiconductor space has been an important driver for the stock market, helped especially by Nvidia Corp.’s dramatic sales growth — the company’s most recent quarterly revenue was 4.5 times as high as it was two years earlier.

Numerous growth drivers and strong tailwinds should combine to drive this artificial intelligence (AI) pioneer higher.

The chip maker's shares have tended to pop after the Federal Reserve cuts interest rates, judging by data stretching back to 1999.