A note before, amsmath provides special *matrix environments:
pmatrix for ( · )
bmatrix for [ · ]
Bmatrix for { · }
vmatrix for | · |
Vmatrix for || · ||
Solution 1
I used the \vphantom macro that resizes the box inside the \overset to same height like the other parts.
Code
\documentclass{article}
\usepackage{amsmath}
\newcommand*\biggestpart{}
\begin{document}
\renewcommand*\biggestpart{
\begin{bmatrix}
t_1 & 1 \\
\vdots & \vdots \\
t_n & 1
\end{bmatrix}
}
\begin{align*}
\overset{A}{\biggestpart}
\overset{x}{
\vphantom{\biggestpart}
\begin{bmatrix}
x_1 \\ x_2
\end{bmatrix}
}
&=
\overset{b}{
\begin{bmatrix}
b_1 \\ \vdots \\ b_n
\end{bmatrix}
}
\end{align*}
\end{document}
Output

Solution 2
As the second row in the bigger matrices are not of the same height of x_2 the \vphantom command is used again (try it without to see the effect or replace \vdots with “normal” math stuff like x_0).
Code
\documentclass{article}
\usepackage{amsmath}
\begin{document}
\begin{align*}
\overset{A}{
\begin{bmatrix}
t_1 & 1 \\
\vdots & \vdots \\
t_n & 1
\end{bmatrix}}
\overset{x}{
\begin{array}{@{}c@{}}{
\begin{bmatrix}
x_1 \\ x_2 \vphantom{\vdots}
\end{bmatrix}}\\
\\
\end{array}
}
&=
\overset{b}{
\begin{bmatrix}
b_1 \\ \vdots \\ b_n
\end{bmatrix}
}
\end{align*}
\end{document}
Output

@{}c@{}do? – alexpghayes Jul 05 '22 at 18:30arrayis the math version oftabular, its first argment is the column specification.cstands for a horizontally centered column,@{<stuff>}inserts<stuff>between columns (or in this case before the first or after the last column) instead of the usual horizontal space. Since<stuff>is nothing we don't have any horizontal space between the content and the delimiters[and]. – Qrrbrbirlbel Jul 05 '22 at 19:16arrayfor its matrix environments in a similar way. – Qrrbrbirlbel Jul 05 '22 at 19:21