US stocks hit fresh records on Thursday as the Nvidia-Intel deal unleashed a rally in chip stocks.

Nvidia (NVDA.O) on Thursday said it will invest $5 billion in Intel (INTC.O), throwing its heft behind the struggling U.S. chip foundry, but stopped short of giving Intel a crucial manufacturing deal...

Shares in Intel surged more than 25% in early trading as investors welcomed Nvidia's $5 billion investment in the struggling US chipmaker.

"I think many people were worried that it was going to be more volatile than it has been over the last couple of weeks," she stated.

After a year of sitting on the sidelines, the Federal Reserve finally cut short-term interest rates by a quarter-point.

NBC News’ Christine Romans reports on what the impact to your borrowing costs may be.