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

Plenty of AI stocks trade down from their recent peaks, and the Nasdaq Composite, the tech-heavy index, hit an intraday peak on July 11. The index is down 5.5% from that peak after a recent recovery. Similarly, the VanEck Semiconductor ETF, which is led by the chip stocks that are key in the AI rally, is down 18% from its peak on the same day.

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.