It's been quite the year for artificial intelligence (AI) chipmaker Nvidia ( NVDA 4.57%), which has seen its stock rise more than 161% year to date. Over the last five years, Nvidia's stock is up by more than an astounding 2,560%.

Truist downgraded Incyte (INCY) to Hold from Buy with a price target of $74, down from $83. The company's efforts to offset the Jakafi patent cliff failed, and its oncology programs are "encouraging but early" or in highly a competitive space, the firm tells investors in a research note.

The U.S. stock market’s reaction to Nvidia’s earnings report illustrates how unrealistic investors are about the tech giant’s future growth rate. Nvidia reported second-quarter revenue that was more than double the year-ago quarter and was even better than the consensus Wall Street expectation.

Thus far, semiconductor behemoth Nvidia ( NVDA 4.12%) has been the undisputed beneficiary of the rise of AI. But according to select Wall Street pundits, two other artificial intelligence stocks offer truly eye-popping upside -- up to 1,050%!

U.S. stock indexes stormed back from big early drops to finish higher, led by a handful of influential Big Tech companies

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.