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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.

And today, with prices of AI stocks still reaching well into the hundreds of dollars, the stock split wave isn't over. In fact, one stock in particular looks like an excellent candidate thanks to its solid growth in recent years, top share price performance, and long-term prospects.

Back in the dot-com boom era, stock splits became commonplace in response to soaring share prices. Amid the current artificial intelligence (AI) boom, a similar pattern could be developing. Already, several AI companies have split their shares, and more splits could be on the way among the others that are trading at lofty prices.

The Fed announced yesterday that it would be cutting interest rates by 50 basis points -- coming in higher than the 25-basis-point cut that many investors and analysts had anticipated. While the initial reaction to the rate cut didn't spur gains for the broader market,