BofA calls Nvidia the firm’s “top compute pick” ahead of the company’s flagship GPU Tech Conference, or GTC, including the CEO keynote on Tuesday, March 21. The firm expects the event to reinforce Nvidia’s AI leadership and showcase new recurring subscription and software opportunities, but also notes this GTC isn’t a formal “investor day” and might lack financial updates. Historically, the stock has outperformed the broader market by 190 basis points on average a day following the GTC conference, but most of those also coincided with annual investor day and given this one does not, it could potentially create a pause in the stock, which is up 76% year-to-date, BofA tells investors. The firm has a Buy rating and $275 price target on Nvidia shares.