While Wall Street keeps hunting for the next artificial intelligence winner, Bank of America’s top chip analyst says the best AI trade remains the market’s most obvious one.

The next Nvidia Corp. (NASDAQ:NVDA) is still Nvidia.

Why Bank Of America Remains Bullish On Nvidia

The bank’s semiconductor nalyst Vivek Arya reiterated a Buy rating on the chipmaker and maintained a $350 price target following appearances by Nvidia executives at the Bank of America Global Technology Conference, calling the stock the firm’s “top sector pick.”

The target implies roughly 60% upside from Thursday’s closing price of $218.66.

Arya hosted NVDA Chief Financial Officer Colette Kress on Thursday, days after CEO Jensen Huang‘s ‘GTC Taipei” keynote on Monday.

The message from management was consistent: Nvidia keeps widening the moat by attacking more of the Al rack with every product generation.

Arya called Nvidia the “king of diversity,” noting the company supplies every major hyperscaler and every major model maker while holding a deep incumbency in enterprise and industrial workloads.

The bank highlighted Nvidia’s growing ...