J.P. Morgan's trading department believes that the strong performance and steady economic growth of Nvidia, the darling of artificial intelligence, means that the S&P 500 may have room for further growth. “As the topic of artificial intelligence continues to play its role, we are likely to continue to hit new record highs,” the team including Andrew Tyler, head of US market research at J.P. Morgan Chase, wrote in a report to clients. He believes that factors such as gross domestic product (GDP) growth reaching or above trend levels, positive performance, and the Federal Reserve being on hold are all recipes for a bull market.