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Nvidia Stock NVDA

Nvidia · SEC filings · Reporting currency USD · Quarterly reporting · Figures as of Q2 FY2027 (May to Jul 2026) · updated 2026-10-18 · ISIN US67066G1040 · WKN 918422

Nvidia designs and markets graphics processing units (GPUs), networking hardware, and related software platforms across four primary segments: Data Center, Gaming, Professional Visualization, and Automotive. Nvidia stock (NVDA): Quarterly and annual results since 2024 from Quarterly Report and SEC filings: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Nvidia stock (NVDA): listed on Nasdaq, index S&P 500, Nasdaq 100, Dow Jones, WKN 918422. NadirAlpha has evaluated 52 original documents, cross-checked every figure automatically and linked each to its source; sources as of 08/2026. Revenue Q2 FY2027 (May to Jul 2026): USD 96.2 billion (+106% year on year). Latest reported (Q2 FY2027 (May to Jul 2026)): Data Center revenue, Net cash provided by operating activities, Edge Computing revenue. Latest reading: Operating income doubled, Net income doubled, Revenue accelerating, Margin expanding, Net cash to net debt.

Operating income doubled Net income doubled Revenue accelerating Margin expanding Net cash to net debt

NadirAlpha editorial team · About us · Methodology

The new quarter, monitored by AI. · NadirAlpha follows every stock through its original filings: the latest figures against their history, guidance against actuals; neutral, continuously updated, every figure clickable with its source.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
AI-generatedCreated with AI assistance from the company's linked original filings (transparency per Art. 50 EU AI Act). More about the tool: Claude Code.
Not investment adviceNeutral financial information, no recommendation, no investment research within the meaning of MiFID II.
Verify yourselfFigures are extracted automatically, errors are possible. Every figure is clickable with its source; the issuer's original documents are always authoritative.
EditorialThe texts (business model, current status, development and others) are written AI-editorially from the original reports alone, cross-checked automatically and backed with sources; the company's own account, no assessment of our own. Methodology
AI research · This page works as a source-backed data basis for further research with AI assistants such as Claude; every figure remains verifiable via the source links.

Nvidia Current Status

Where Nvidia stands after the report for Q2 FY2027: what changed in revenue, earnings and outlook, written editorially from the original report. NadirAlpha methodology

Assessment by NadirAlpha, as of Q2 FY2027 (May to Jul 2026).

Nvidia reported second-quarter fiscal year 2027 revenue of USD 96,221 million, up 106% year-over-year and 18% sequentially, driven by the Blackwell Ultra infrastructure ramp 15. Data Center revenue reached $89.0 billion, up 117% year-over-year and 18% sequentially 15. GAAP and non-GAAP gross margins were both 75.0%, improving from 72.4% a year earlier due to improved product mix from Blackwell Ultra 15. The quarter also saw the introduction of a new AI cloud business model and the announcement of financing arrangements with major financial institutions aimed at expanding AI infrastructure capacity 15 30.
Management commentary on the 2027-Q2 results (8-K-EX99.1, 2026-08-26):

“AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue. And demand is accelerating. This time last year, one lab alone was driving the buildout; today, we have a golden age of new AI labs and startups, multiple frontier labs scaling in parallel, a thriving open-model ecosystem and physical AI coming online, with strong momentum across the U.S. and around the world. The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment.”

Jensen Huang, founder and CEO of NVIDIA 30
Revenue · 2027-Q296,221$ million+105.9 % vs. 2026-Q2
Net profit · 2027-Q259,688$ million+125.9 % vs. 2026-Q2
EPS · 2027-Q22.46$+127.8 % vs. 2026-Q2
Revenue trend
Guidance
For FY2027, Nvidia guides Tax rate 16 to 18% (confirmed). 30 For 2027-Q3, Nvidia guides Revenue 105,840 to 110,160 $ million (initiated); Gross margin (non-GAAP) 73.5 to 74.5% (initiated); OpEx (GAAP) ~9,200 $ million (initiated). 30
Profitability
Operating income was USD 63,734 million, with non-GAAP operating income of USD 63,956 million 30. Net income reached USD 59,688 million, up 126% year-over-year, with diluted earnings per share of 2.46 and non-GAAP diluted EPS of 2.22 15 30. Free cash flow for the quarter was USD 21,400 million, generated from operating cash flow of USD 24,077 million after capital expenditure of USD 2,677 million 30.
Leverage
Nvidia held cash of USD 22,443 million at the end of the quarter, reflecting a net debt position of USD 10,923 million, compared with a net cash position in the prior quarter 30. The shift was driven in part by the issuance of $25.0 billion in aggregate senior unsecured notes across seven tranches in June 2026 15. Nvidia returned approximately $26.0 billion to shareholders through repurchases and dividends during the quarter, and increased the quarterly cash dividend from $0.01 to $0.25 per share effective May 18, 2026 15 30.
Management view
Nvidia introduced a new AI cloud business model with select cloud infrastructure partners, accumulating $36 billion in commitments as of July 26, 2026, and entered memorandums of understanding to establish independent financing platforms to mobilize more than $500 billion of third-party capital through partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR 15 30. Nvidia partnered with the Japanese government to launch what it described as the world's first national AI infrastructure, and announced a collaboration with SK Telecom, NAVER, and Brookfield to build sovereign AI infrastructure in South Korea 30. Nvidia also entered guarantees with SB Energy Corp. for a data center buildout in Pike County, Ohio, with the obligation capped at $105 billion, and formed the Open Secure AI Alliance with industry partners for AI safety and security 15 30.
Change
Nvidia incurred a $0.4 billion charge for H200 excess inventory and purchase obligations during the first half of fiscal year 2027, with H200 shipments falling to less than 1% of Data Center revenue in Q2 fiscal year 2027, reflecting the product's rapid phase-down as the Blackwell Ultra generation ramped 15. Operating expenses increased 55% year-over-year to $8.4 billion, driven by higher compute infrastructure and compensation costs 15. Supply and capacity commitments increased from $119 billion to $279 billion as of July 26, 2026, representing a substantial expansion of forward financial obligations tied to the infrastructure buildout 15.
Risks (current)
Export control compliance requirements expose Nvidia to potential fines and sanctions, and export restrictions on H200 and other data center products to China limit the company's revenue potential in that market 15. Revenue is concentrated among a limited number of direct and indirect customers, and substantial supply and capacity commitments create financial exposure if demand conditions change; the global supply chain for networking products carries concentration risk in Taiwan and South Korea 15. Customer and partner data center buildout depends on land, power, and facility availability, Middle East conflict and global geopolitical tensions add operational uncertainty, and intensifying competition from companies with longer operating histories and greater financial resources could affect market share 14 15.
New this reporting period
The Vera Rubin next-generation Data Center platform ramped into full production across CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, and Nebius, while NVIDIA Vera, described as the first CPU built for AI agents, was announced in the quarter 30. Groq 3 LPX interactive AI inference accelerator entered full production, the NVIDIA DSX platform for AI factory infrastructure design and operation was launched, and the NVIDIA BioNeMo Agent Toolkit for agentic life sciences was introduced 30. Further product introductions included NVIDIA Cosmos 3, described as the world's first fully open frontier omnimodel for physical AI, the NVIDIA Isaac GR00T Reference Humanoid Robot, NVIDIA Halos for Robotics safety system, and NVIDIA RTX Spark for Windows PC in partnership with Microsoft 30.

Nvidia Stock: Key Figures ($ million)

The core financial figures of Nvidia stock in three views: fiscal years up to FY2027, half-years and quarters up to Q2 FY2027, in $ million, most recent period first. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology

All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.

Revenue ($ million) · annual basis, as reported
Net income ($ million) · annual basis, as reported
EPS ($) · annual basis, as reported
Operating cash flow ($ million) · annual basis, as reported
Revenue ($ million) · quarterly basis, as reported
Net income ($ million) · quarterly basis, as reported
EPS ($) · quarterly basis, as reported
Operating cash flow ($ million) · quarterly basis, as reported
Cash ($ million) · annual basis, as reported
Debt ($ million) · annual basis, as reported
Net Debt ($ million) · annual basis, as reported
Capex ($ million) · annual basis, as reported
FCF ($ million) · annual basis, as reported
D&A ($ million) · annual basis, as reported
Cash ($ million) · quarterly basis, as reported
Debt ($ million) · quarterly basis, as reported
Net Debt ($ million) · quarterly basis, as reported
Capex ($ million) · quarterly basis, as reported
FCF ($ million) · quarterly basis, as reported
D&A ($ million) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2016 is on record.

Fiscal years

Amounts in $ million · EPS in $ per share · as reported
Nvidia stock: key figures on annual basis, FY2024 to FY2026, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)OCFSource
FY2026Q1/2025–Q1/2026215,938130,387132,568120,0674.904.77102,71813
FY2025Q1/2024–Q1/2025130,49781,45386,78972,8802.942.9964,08924
FY2024Q1/2023–Q1/202460,92232,97237,13429,7601.191.3028,0901

Quarters

Amounts in $ million · EPS in $ per share · as reported
Nvidia stock: key figures on quarterly basis, 2024-Q1 to 2027-Q2, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)FCFCashNet DebtSource
2027-Q2*Q2–Q3/20262026-08-2696,22163,73463,95659,6882.462.2221,40022,44310,92315
2027-Q1*Q1–Q2/20262026-05-2081,61553,53653,78358,3212.391.8748,58713,237-4,76714
2026-Q4*Q4/2025–Q1/20262026-02-2568,12744,29944,47442,9601.761.5934,90410,605-2,137128
2026-Q3*Q3–Q4/20252025-11-1957,00636,01037,75231,9101.301.3022,11511,486-3,0198
2026-Q2*Q2–Q3/20252025-08-2746,74328,44028,54126,4221.081.0113,47011,639-3,173~7
2026-Q1*Q1–Q2/20252025-05-2844,06221,63821,80118,7750.760.7826,18715,234-6,770~6
2025-Q4*Q4/2024–Q1/20252025-02-2639,33124,03425,51622,091–0.8915,5528,589-1265
2025-Q3*Q3–Q4/20242024-11-2035,08221,86923,27619,3090.780.8116,8149,107-6454
2025-Q2*Q2–Q3/20242024-08-2830,04018,64219,93716,5990.670.6813,5118,563-1023
2025-Q1*Q1–Q2/20242024-05-2226,04416,909–14,8810.606.1214,9767,5872,12321
2024-Q4*Q4/2023–Q1/20242024-02-2122,10313,61514,74912,2850.49*≈0.5211,2457,2802,4291
2024-Q3*Q3–Q4/20232023-11-2118,12010,41711,5579,2430.37*4.027,0545,5194,18712
2024-Q2*Q2–Q3/20232023-08-2313,5076,8007,7766,1880.252.706,0595,7833,92218
2024-Q1*Q1–Q2/20232023-05-247,1922,1403,0522,0430.080.112,6635,0795,87517
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
EPS/EPS adj. before 2023-08-23 split-adjusted (÷10; stock split detected via implied diluted share count).
Columns not reported in this reporting cadence are hidden: EBITDA (adj.) (not reported in any source for these periods).

Nvidia Balance Sheet & Cash Flow ($ million)

NadirAlpha places cash, debt, operating cash flow and investments of Nvidia side by side per period, balance sheet values as of the period end, flow items for the period. NadirAlpha extracts all values automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. NadirAlpha methodology

Fiscal years

Amounts in $ million · as reported
Nvidia stock: balance sheet and cash flow on annual basis, FY2024 to FY2026, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedCashDebtNet DebtD&AOCFCapexFCFSource
FY2026Q1/2025–Q1/20262026-02-2510,6058,468-2,1372,843102,7186,04296,67613
FY2025Q1/2024–Q1/20252025-02-268,5898,463-1261,86464,0893,23660,8535
FY2024Q1/2023–Q1/20242024-02-217,2809,7092,4291,50828,0901,06927,0211

Quarters

Amounts in $ million · as reported
Nvidia stock: balance sheet and cash flow on quarterly basis, 2024-Q1 to 2027-Q2, in $ million. Compiled by NadirAlpha from SEC filings.
PeriodCalendar quarterPublishedCashDebtNet DebtD&AOCFCapexFCFSource
2027-Q2Q2–Q3/20262026-08-2622,44333,36610,9231,12724,0772,67721,40015
2027-Q1Q1–Q2/20262026-05-2013,2378,470-4,76799750,3441,75748,58714
2026-Q4Q4/2025–Q1/20262026-02-2510,6058,468-2,13781236,1881,28434,904128
2026-Q3Q3–Q4/20252025-11-1911,4868,467-3,01975123,7511,63622,1158
2026-Q2Q2–Q3/20252025-08-2711,6398,466~-3,173~66915,3651,89513,4707
2026-Q1Q1–Q2/20252025-05-2815,2348,464~-6,770~61127,4141,22726,1876
2025-Q4Q4/2024–Q1/20252025-02-268,5898,463-12654316,6291,07715,5525
2025-Q3Q3–Q4/20242024-11-209,1078,462-64547817,62781316,8144
2025-Q2Q2–Q3/20242024-08-288,5638,461-10243314,48897713,5113
2025-Q1Q1–Q2/20242024-05-227,5879,7102,12341015,34536914,97621
2024-Q4Q4/2023–Q1/20242024-02-217,2809,7092,42938711,49925411,2451
2024-Q3Q3–Q4/20232023-11-215,5199,7064,1873727,3322787,05412
2024-Q2Q2–Q3/20232023-08-235,7839,7053,9223656,3482896,05918
2024-Q1Q1–Q2/20232023-05-245,07910,9545,8753842,9112482,66317
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.

Nvidia Guidance Tracking (latest per metric/period · 44/92)

What Nvidia guided for Q2 FY2027 and beyond and whether the targets were met; ranges count as met when the actual lies within. NadirAlpha methodology

Actuals: revenue in $m

Direction: confirmedinitiatedraised Verdict: beatpending

Nvidia: guidance and actuals per metric and period, 92 entries. Compiled by NadirAlpha from SEC filings.
For periodGuided onMetricGuidedActualVerdictDirectionSource
FY20272026-05-20Tax rate16–18%–30
2027-Q32026-08-26Revenue105,840–110,160–30
2027-Q32026-08-26Gross margin (non-GAAP)73.5–74.5%–30
2027-Q32026-08-26OpEx (GAAP)~9,200–30
2027-Q32026-08-26OpEx (non-GAAP)9,000–30
2027-Q22026-05-20Revenue89,180–92,82096,221–29
2027-Q22026-05-20Gross margin (GAAP)74.4–75.4%–––29
2027-Q22026-05-20Gross margin (non-GAAP)74.5–75.5%–––29
2027-Q22026-05-20OpEx (GAAP)~8,500–––29
2027-Q22026-05-20OpEx (non-GAAP)~8,300–––29
2027-Q12026-02-25Revenue76,440–79,56081,61528
2027-Q12026-02-25Gross margin (GAAP)74.4–75.4%––28
2027-Q12026-02-25Gross margin (non-GAAP)74.5–75.5%––28
2027-Q12026-02-25OpEx (GAAP)~7,700––28
2027-Q12026-02-25OpEx (non-GAAP)~7,500––28
FY20262025-08-27Gross margin (non-GAAP)-70%––26
FY20262025-08-27OpEx (GAAP)-30%––26
FY20262024-08-28Gross margin (GAAP)-70%––22
2026-Q42025-11-19Revenue63,700–66,30068,12727
2026-Q42025-11-19Gross margin (GAAP)74.3–75.3%––27
2026-Q42025-11-19Gross margin (non-GAAP)74.5–75.5%––27
2026-Q42025-11-19OpEx (GAAP)~6,700––27
2026-Q42025-11-19OpEx (non-GAAP)~5,000––27
2026-Q42025-11-19Tax rate16–18%–––27
2026-Q42025-11-19Other income and expense (GAAP)~500––27
2026-Q32025-08-27Revenue52,920–55,08057,00626
2026-Q32025-08-27Gross margin (GAAP)72.8–73.8%––26
2026-Q32025-08-27Gross margin (non-GAAP)73–74%––26
2026-Q32025-08-27OpEx (GAAP)~5,900––26
2026-Q32025-08-27OpEx (non-GAAP)~4,200––26
2026-Q32025-08-27Tax rate15.5–17.5%––26
2026-Q32025-08-27GAAP and non-GAAP other income and expense~500––26
2026-Q22025-05-28Revenue44,100–45,90046,743–25
2026-Q22025-05-28Gross margin (GAAP)71.3–72.3%–––25
2026-Q22025-05-28Gross margin (non-GAAP)71.5–72.5%–––25
2026-Q22025-05-28OpEx (GAAP)~5,700–––25
2026-Q22025-05-28OpEx (non-GAAP)~4,000–––25
2026-Q22025-05-28Tax rate15.5–17.5%––25
2026-Q12025-02-26Revenue42,140–43,86044,06224
2026-Q12025-02-26Gross margin (GAAP)70.1–71.1%––24
2026-Q12025-02-26Gross margin (non-GAAP)70.5–71.5%––24
2026-Q12025-02-26OpEx (GAAP)~5,200––24
2026-Q12025-02-26OpEx (non-GAAP)~3,600––24
2026-Q12025-02-26Tax rate16–18%––24
FY20252024-08-28OpEx (GAAP)40%––3
FY20252024-05-22Gross margin (GAAP)-70%––3
FY20252024-02-21Capital investments related to property and equipment3,500–4,000––1
FY20252024-02-21Debt repayment1,300––1
2025-Q42024-11-20Revenue36,750–38,25039,33123
2025-Q42024-11-20Gross margin (non-GAAP)73–74%––23
2025-Q42024-11-20OpEx (non-GAAP)~3,400––23
2025-Q32024-08-28Revenue31,850–33,15035,08222
2025-Q32024-08-28Gross margin (GAAP)73.9–74.9%––22
2025-Q32024-08-28Gross margin (non-GAAP)74.5–75.5%––22
2025-Q32024-08-28OpEx (GAAP)~4,300––22
2025-Q32024-08-28OpEx (non-GAAP)~3,000––22
2025-Q32024-08-28Tax rate16–18%––22
2025-Q22024-05-22Revenue27,440–28,56030,04021
2025-Q22024-05-22Gross margin (GAAP)74.3–75.3%––21
2025-Q22024-05-22Gross margin (non-GAAP)75–76%––21
2025-Q22024-05-22OpEx (GAAP)~4,000––21
2025-Q22024-05-22OpEx (non-GAAP)~2,800––21
2025-Q22024-05-22Tax rate16–18%––21
2025-Q22024-05-22GAAP and Non-GAAP other income and expense~300––21
2025-Q12024-02-21Revenue23,520–24,48026,04420
2025-Q12024-02-21Gross margin (GAAP)75.8–76.8%––20
2025-Q12024-02-21Gross margin (non-GAAP)76.5–77.5%––20
2025-Q12024-02-21OpEx (GAAP)~3,500––20
2025-Q12024-02-21OpEx (non-GAAP)~2,500––20
2025-Q12024-02-21Tax rate16–18%––20
2024-Q42023-11-21Revenue19,600–20,40022,10319
2024-Q42023-11-21Gross margin (GAAP)74–75%––19
2024-Q42023-11-21Gross margin (non-GAAP)75–76%––19
2024-Q42023-11-21OpEx (GAAP)~3,170––19
2024-Q42023-11-21OpEx (non-GAAP)2,200––19
2024-Q42023-11-21Tax rate14–16%––19
2024-Q42023-11-21GAAP and non-GAAP other income and expense~200––19
2024-Q32023-08-23Revenue15,680–16,32018,12018
2024-Q32023-08-23Gross margin (GAAP)71–72%––18
2024-Q32023-08-23Gross margin (non-GAAP)72–73%––18
2024-Q22023-05-24Revenue10,780–11,22013,50717
2024-Q22023-05-24Gross margin (GAAP)68.1–69.1%––17
2024-Q22023-05-24Gross margin (non-GAAP)69.5–70.5%––17
2024-Q22023-05-24OpEx (GAAP)~2,710––17
2024-Q22023-05-24OpEx (non-GAAP)~1,900––17
2024-Q22023-05-24Tax rate13–15%––17
2024-Q12023-02-22Revenue6,370–6,6307,19216
2024-Q12023-02-22Gross margin (GAAP)63.6–64.6%––16
2024-Q12023-02-22Gross margin (non-GAAP)66–67%––16
2024-Q12023-02-22OpEx (GAAP)~2,530––16
2024-Q12023-02-22OpEx (non-GAAP)~1,780––16
2024-Q12023-02-22Tax rate12–14%––16

Nvidia Stock: Price & Chart

Chart and key figure trend of Nvidia stock: the TradingView chart starts only on click, the key figure chart comes from the core tables up to Q2 FY2027. NadirAlpha methodology

Daily candles with news and earnings markers. Loads only on click.

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Nvidia Event Timeline

What happened at Nvidia since 2024: events from the filings, grouped by quarter, with the source date and a clickable source number. NadirAlpha methodology

Overview: one dot per event · click jumps to the period
earningsrevenuemarginguidancestrategyfinancials2024-Q12024-Q22024-Q32024-Q4FY20242025-Q12025-Q22025-Q32025-Q4FY20252026-Q12026-Q22026-Q32026-Q42027-Q12027-Q2
2027 · 11 events

Revenue accelerating 2026-08-26
Revenue reached USD 96,221 million, up 106% year-over-year and 18% sequentially, driven by the Blackwell Ultra infrastructure ramp 15
Margin expanding 2026-08-26
Gross margin improved to 75.0% from 72.4% year-over-year due to improved mix from Blackwell Ultra 15
Net cash to net debt 2026-08-26
Net position moved to net debt of USD 10,923 million from net cash of USD 4,767 million at end of Q1, following issuance of $25.0 billion in senior unsecured notes in June 2026 and $39.8 billion in share repurchases in the first half of fiscal year 2027 15
Operating income doubled 2026-08-26
Operating income more than doubled YoY (28,440.0 to USD 63,734.0 million, +124%). 15
Net income doubled 2026-08-26
Net income more than doubled YoY (26,422.0 to USD 59,688.0 million, +126%). 15

“The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed. Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries. NVIDIA is uniquely positioned at the center of this transformation as the only platform that runs in every cloud, powers every frontier and open source model, and scales everywhere AI is produced, from hyperscale data centers to the edge.”

Jensen Huang, Founder and CEO 29
Revenue accelerating 2026-05-20
Revenue reached USD 81,615 million, up 85% year-over-year and 20% sequentially, driven primarily by Data Center products 14
Margin expanding 2026-05-20
Gross margin improved to 74.9% from 60.5% year-over-year, primarily due to the non-recurrence of a $4.5 billion H20 excess inventory charge in the prior-year period 14
Regulation 2026-05-20
USG granted licenses beginning February 2026 to ship small amounts of H200 products to specific China-based customers, subject to 25% tariff upon U.S. importation 14
Operating income doubled 2026-05-20
Operating income more than doubled YoY (21,638.0 to USD 53,536.0 million, +147%). 14
Net income doubled 2026-05-20
Net income more than doubled YoY (18,775.0 to USD 58,321.0 million, +211%). 14
Net cash build 2026-05-20
Net cash position expanded to USD 4,767.0 million from USD 2,137.0 million in 2026-Q4 (+123%, derived from reported financial debt minus cash). 14
2026 · 15 events

“Computing demand is growing exponentially, the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today, delivering an order-of-magnitude lower cost per token, and Vera Rubin will extend that leadership even further. Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute, the factories powering the AI industrial revolution and their future growth.”

Jensen Huang, Founder and CEO 28
earnings 2026-02-25
Full-year FY2026 GAAP diluted EPS of $4.90, up 67% from $2.94 in FY2025; full-year operating cash flow reached $102.7 billion, up from $64.1 billion in FY2025 13 28
Revenue accelerating 2026-02-25
Record quarterly revenue of $68.1 billion, up 73% year-over-year and 20% sequentially, further accelerating from Q3's 62% year-over-year; full-year FY2026 revenue $215.9 billion up 65% year-over-year 28
Strategic pivot 2026-02-25
Unveiled NVIDIA Rubin platform comprising six new chips targeting up to 10x reduction in inference token cost versus Blackwell; NVIDIA NVLink Fusion introduced to enable hyperscalers and custom ASIC designers to integrate custom CPUs and XPUs with NVIDIA technology 28 13
Cash flow inflection 2026-02-25
Operating cash flow reached USD 36,188.0 million vs USD 16,629.0 million in 2025-Q4 (×2.2). 128

“Blackwell sales are off the charts, and cloud GPUs are sold out. Compute demand keeps accelerating and compounding across training and inference, each growing exponentially. We've entered the virtuous cycle of AI. The AI ecosystem is scaling fast, with more new foundation model makers, more AI startups, across more industries, and in more countries. AI is going everywhere, doing everything, all at once.”

Jensen Huang, founder and CEO 27
Revenue accelerating 2025-11-19
Revenue $57.0 billion, up 62% year-over-year and 22% sequentially, re-accelerating from Q2's 56% year-over-year growth rate; Data Center at $51.2 billion up 66% year-over-year with Blackwell Ultra as the leading architecture across all customer categories 8 27
Acquisition 2025-11-19
NVIDIA committed to invest $5 billion in Intel Corporation (subject to regulatory approval) and entered an agreement to invest up to $10 billion in Anthropic (subject to closing conditions) in November 2025 8
Strategic pivot 2025-11-19
Strategic partnership with OpenAI announced to deploy at least 10 gigawatts of NVIDIA systems; Anthropic to adopt 1 gigawatt of compute capacity with NVIDIA Grace Blackwell and Vera Rubin systems 27
Net cash build 2025-11-19
Net cash position expanded to USD 3,019.0 million from USD 126.0 million in 2025-Q4 (+2296%, derived from reported financial debt minus cash). 8

“Blackwell is the AI platform the world has been waiting for, delivering an exceptional generational leap, production of Blackwell Ultra is ramping at full speed, and demand is extraordinary. NVIDIA NVLink rack-scale computing is revolutionary, arriving just in time as reasoning AI models drive orders-of-magnitude increases in training and inference performance. The AI race is on, and Blackwell is the platform at its center.”

Jensen Huang, Founder and CEO 26
revenue 2025-08-27
Revenue $46.7 billion, up 56% year-over-year, decelerating from Q1's 69% year-over-year growth; Data Center at $41.1 billion up 56% year-over-year 7
Margin expanding 2025-08-27
GAAP gross margin of 72.4% recovered from Q1's 60.5%, which had been compressed by the $4.5 billion H20 export-control one-off charge; on a year-over-year basis gross margin contracted from 75.1% due to the transition to full-scale Blackwell datacenter systems 7 26
Guidance initiated 2025-08-27
Q3 FY2026 revenue guidance of $54.0 billion plus or minus 2% with non-GAAP gross margin expected at 73.5% plus or minus 50 basis points 26
Revenue decelerating 2025-08-27
Revenue growth decelerated to +55.6% YoY (prior period +69.2%). 7

“Our breakthrough Blackwell NVL72 AI supercomputer, a 'thinking machine' designed for reasoning– is now in full-scale production across system makers and cloud service providers. Global demand for NVIDIA's AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure, just like electricity and the internet, and NVIDIA stands at the center of this profound transformation.”

Jensen Huang, founder and CEO 25
revenue 2025-05-28
Revenue $44.1 billion, up 69% year-over-year, with Data Center at $39.1 billion up 73% year-over-year driven by Blackwell platform demand for accelerated computing and AI 6
Margin compressing 2025-05-28
GAAP gross margin fell to 60.5% from 78.4% in the prior-year quarter; primary driver was a $4.5 billion charge for H20 excess inventory and purchase obligations following U.S. government export licensing requirements imposed April 9, 2025, excluding that charge, non-GAAP gross margin would have been 71.3% 6 25
Guidance initiated 2025-05-28
Q2 FY2026 revenue outlook of $45.0 billion plus or minus 2%, reflecting approximately $8.0 billion in H20 revenue loss from export control limitations 25
2025 · 27 events

Operating income doubled 2025-02-26
Operating income more than doubled YoY (32,972.0 to USD 81,453.0 million, +147%). 24
Net income doubled 2025-02-26
Net income more than doubled YoY (29,760.0 to USD 72,880.0 million, +145%). 24

“Demand for Blackwell is amazing as reasoning AI adds another scaling law, increasing compute for training makes models smarter and increasing compute for long thinking makes the answer smarter. We've successfully ramped up the massive-scale production of Blackwell AI supercomputers, achieving billions of dollars in sales in its first quarter. AI is advancing at light speed as agentic AI and physical AI set the stage for the next wave of AI to revolutionize the largest industries.”

Jensen Huang, Founder and CEO 24
revenue 2025-02-26
Revenue $39.3 billion, up 78% YoY (vs. 94% in Q3) and 12% sequentially; full-year revenue $130.5 billion, up 114% YoY; Data Center $35.6 billion, up 93% YoY 24
Margin expanding 2025-02-26
Full-year GAAP gross margin expanded to 75.0% from 72.7% in FY2024, driven by higher mix of Data Center revenue 24
New market 2025-02-26
Blackwell architecture production systems began shipping in Q4; cloud providers AWS, CoreWeave, GCP, Microsoft Azure, and OCI deploying GB200 systems in cloud regions globally 24
Revenue decelerating 2025-02-26
Revenue growth decelerated to +77.9% YoY (prior period +93.6%). 128

“The age of AI is in full steam, propelling a global shift to NVIDIA computing. Demand for Hopper and anticipation for Blackwell, in full production, are incredible as foundation model makers scale pretraining, post-training and inference.”

Jensen Huang, Founder and CEO 23
revenue 2024-11-20
Revenue $35.1 billion, up 94% YoY (vs. 122% in Q2) and 17% sequentially; Data Center $30.8 billion, up 112% YoY, driven primarily by Hopper architecture demand for AI training and inferencing 4
Margin compressing 2024-11-20
Gross margin 74.6%, sequentially lower than Q2 due to mix shift from H100 to more complex, higher-cost Blackwell systems 4
New market 2024-11-20
Blackwell GPU debuted on MLPerf Training benchmark with up to 2.2x performance gains on large language model tasks; production shipments to cloud providers scheduled to begin Q4 FY2025 23
Operating income doubled 2024-11-20
Operating income more than doubled YoY (10,417.0 to USD 21,869.0 million, +110%). 4
Net income doubled 2024-11-20
Net income more than doubled YoY (9,243.0 to USD 19,309.0 million, +109%). 4
Revenue decelerating 2024-11-20
Revenue growth decelerated to +93.6% YoY (prior period +122.4%). 4
Net cash build 2024-11-20
Net cash position expanded to USD 645.0 million from USD 102.0 million in 2025-Q2 (+532%, derived from reported financial debt minus cash). 4

“Hopper demand remains strong, and the anticipation for Blackwell is incredible. NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

Jensen Huang, Founder and CEO 22
revenue 2024-08-28
Revenue $30.0 billion, up 122% YoY (vs. 262% in Q1) and 15% sequentially; Data Center $26.3 billion, up 154% YoY 3
Margin compressing 2024-08-28
Gross margin 75.1%, sequentially lower than Q1's 78.4%; inventory provisions for low-yielding Blackwell material negatively impacted Q2 gross margin by 2.7% 3
Net debt to net cash 2024-08-28
Net position shifted from net debt of $3.4 billion in Q1 to net cash; board approved $50.0 billion additional share repurchase authorization 22
Operating income doubled 2024-08-28
Operating income more than doubled YoY (6,800.0 to USD 18,642.0 million, +174%). 3
Net income doubled 2024-08-28
Net income more than doubled YoY (6,188.0 to USD 16,599.0 million, +168%). 3
Revenue decelerating 2024-08-28
Revenue growth decelerated to +122.4% YoY (prior period +262.1%). 3

“Our data center growth was fueled by strong and accelerating demand for generative AI training and inference on the Hopper platform. Beyond cloud service providers, generative AI has expanded to consumer internet companies, and enterprise, sovereign AI, automotive and healthcare customers, creating multiple multibillion-dollar vertical markets.”

Jensen Huang, Founder and CEO 21
Margin expanding 2024-05-29
Gross margin expanded to 78.4% from 64.6% year-over-year, driven by strong Data Center revenue growth from the Hopper GPU computing platform 2
revenue 2024-05-22
Record quarterly revenue of $26.0 billion, up 262% YoY and 18% sequentially; Data Center revenue $22.6 billion, up 427% YoY, driven by Hopper GPU computing platform 21
Operating income doubled 2024-05-22
Operating income more than doubled YoY (2,140.0 to USD 16,909.0 million, +690%). 21
Net income doubled 2024-05-22
Net income more than doubled YoY (2,043.0 to USD 14,881.0 million, +628%). 21
Cash flow inflection 2024-05-22
Operating cash flow reached USD 15,345.0 million vs USD 2,911.0 million in 2024-Q1 (×5.3). 21
New market 2024-05-22
Blackwell platform entered full production for trillion-parameter-scale generative AI; customer samples planned for Q2 shipment with production ramp in H2 FY2025 21
earnings 2024-02-21
Net cash from operating activities increased to $28.1B from $5.6B in the prior year; free cash flow reached $27.0B, reflecting the operating leverage generated by Data Center revenue growth (1, 24)
Margin expanding 2024-02-21
Full-year GAAP gross margin improved to 72.7% from 56.9%, primarily driven by Data Center revenue growth and lower net inventory provisions relative to the prior year (1)
2024 · 22 events

Operating income doubled 2024-02-21
Operating income more than doubled YoY (4,224.0 to USD 32,972.0 million, +681%). 1
Net income doubled 2024-02-21
Net income more than doubled YoY (4,368.0 to USD 29,760.0 million, +581%). 1

“Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations.”

Jensen Huang, founder and CEO 20
earnings 2024-02-21
Q4 GAAP diluted EPS of $4.93, up 765% YoY against a prior-year Q4 depressed by elevated inventory provisions; full-year GAAP diluted EPS of $11.93, up 586% YoY (20)
Revenue accelerating 2024-02-21
Record Data Center quarterly revenue of $18.4B, up 409% YoY and 27% QoQ; total Q4 revenue $22.1B, up 265% YoY and 22% QoQ (20)
Operating income doubled 2024-02-21
Operating income more than doubled YoY (1,257.0 to USD 13,615.0 million, +983%). 124
Net income doubled 2024-02-21
Net income more than doubled YoY (1,414.0 to USD 12,285.0 million, +769%). 124

“Our strong growth reflects the broad industry platform transition from general-purpose to accelerated computing and generative AI. Large language model startups, consumer internet companies and global cloud service providers were the first movers, and the next waves are starting to build. Nations and regional CSPs are investing in AI clouds to serve local demand, enterprise software companies are adding AI copilots and assistants to their platforms, and enterprises are creating custom AI to automate the world's largest industries. NVIDIA GPUs, CPUs, networking, AI foundry services and NVIDIA AI Enterprise software are all growth engines in full throttle. The era of generative AI is taking off.”

Jensen Huang, founder and CEO 19
Revenue accelerating 2023-11-21
Record revenue of $18.12B, up 206% YoY and 34% QoQ; Data Center $14.51B, up 279% YoY and 41% QoQ, driven by HGX platform demand for large language models and generative AI applications (19)
Margin expanding 2023-11-21
Gross margin increased to 74.0% from 53.6% YoY on improved product mix from Data Center revenue growth and lower net inventory provisions; prior-year margin was depressed by higher inventory charges (12)
Guidance cut 2023-11-21
New USG export licensing requirements effective October 2023 for products exceeding certain performance thresholds destined to China and Country Groups D1, D4, D5; company expected a significant decline in China sales in Q4 FY2024 (12)
Operating income doubled 2023-11-21
Operating income more than doubled YoY (601.0 to USD 10,417.0 million, +1633%). 12
Net income doubled 2023-11-21
Net income more than doubled YoY (680.0 to USD 9,243.0 million, +1259%). 12

“A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

Jensen Huang, founder and CEO 18
Margin expanding 2023-08-28
GAAP gross margin expanded to 70.1% from 43.5% YoY, primarily reflecting higher Data Center revenue and lower inventory provisions; prior-year gross margin was compressed by elevated inventory write-downs (11)
guidance 2023-08-28
U.S. government export restrictions on A100 and H100 chips expanded to additional regions and certain Middle East customers, adding to forward revenue uncertainty in affected markets (11)
Revenue accelerating 2023-08-23
Record revenue of $13.51B, up 101% YoY and 88% QoQ; Data Center reached $10.32B, up 171% YoY and 141% QoQ, driven by strong demand for the HGX platform for large language models and generative AI (18)
Operating income doubled 2023-08-23
Operating income more than doubled YoY (499.0 to USD 6,800.0 million, +1263%). 18
Net income doubled 2023-08-23
Net income more than doubled YoY (656.0 to USD 6,188.0 million, +843%). 18
Cash flow inflection 2023-08-23
Operating cash flow reached USD 6,348.0 million vs USD 1,270.0 million in 2023-Q2 (×5.0). 18

“The computer industry is going through two simultaneous transitions, accelerated computing and generative AI. A trillion dollars of installed global data center infrastructure will transition from general purpose to accelerated computing as companies race to apply generative AI into every product, service and business process. Our entire data center family of products, H100, Grace CPU, Grace Hopper Superchip, NVLink, Quantum 400 InfiniBand and BlueField-3 DPU, is in production. We are significantly increasing our supply to meet surging demand for them.”

Jensen Huang, founder and CEO 17
revenue 2023-05-24
Data Center revenue reached a record $4.28B, up 14% YoY and 18% QoQ, while total Q1 revenue grew 19% sequentially on rising generative AI demand, even as overall revenue remained 13% below the prior-year level (17)
New market 2023-05-24
Launched four AI inference platforms combining full-stack inference software with Ada, Hopper, and Grace Hopper processors, and introduced NVIDIA AI Foundations for enterprise custom large language model development (17)
Margin compressing 2023-02-24
GAAP gross margin declined to 56.9% from 64.9% primarily due to $2.17 billion in inventory provisions 9
Divestiture 2023-02-24
Terminated Share Purchase Agreement with SoftBank for acquisition of Arm Limited due to significant regulatory challenges; recorded $1.35 billion acquisition termination cost 9
Strategic pivot 2023-02-24
U.S. government announced new export license requirements in Q3 FY2023 on certain data center products to China and Russia; NVIDIA stopped direct sales to Russia and closed business operations there 9

Nvidia Business Model

How Nvidia (NVDA) makes its money, summarised from the filings up to Q2 FY2027, neutral and without forecast. NadirAlpha methodology

Nvidia designs and markets graphics processing units (GPUs), networking hardware, and related software platforms across four primary segments: Data Center, Gaming, Professional Visualization, and Automotive. Revenue is generated predominantly through the sale of GPU-based compute systems, including multi-GPU HGX and DGX configurations, InfiniBand and Ethernet networking products, and the CUDA software stack, to cloud service providers, consumer internet companies, enterprises, and original equipment manufacturers. The Data Center segment, anchored by AI training and inference accelerators including the Hopper, Blackwell, Blackwell Ultra, and Vera Rubin GPU architectures, is the dominant revenue driver, contributing $89.0 billion of USD 96,221 million in total Q2 fiscal year 2027 revenue. The CUDA parallel computing platform underpins ecosystem adoption across scientific computing, large model training, and inference deployment. As of Q2 fiscal year 2027, Nvidia has introduced a new AI cloud business model with select cloud infrastructure partners, holds equity investments of $99 billion alongside equity investment commitments of $25 billion in AI and infrastructure partners, and has entered arrangements to mobilize third-party capital for AI infrastructure buildout, reflecting a broadened role across the AI value chain. Gaming, Professional Visualization, and Automotive segments each contribute smaller shares of overall revenue.

Nvidia Stock: Share-Price Drivers

Factors Nvidia itself names as material for its business development, reproduced neutrally, without price forecast and without assessment of our own. NadirAlpha methodology

Data Center and AI compute demand
Data Center is the dominant revenue source, with quarterly revenue of USD 96,221 million largely driven by AI accelerator demand; Data Center revenue reached about 89,000 million, up 117% (30), and the Compute & Networking segment about 88,299 million, up 114% (15).
Data Center AI accelerator demand
Data Center revenue of roughly 89,000 million, up 117%, is the largest contributor and continues to scale (30); Compute & Networking rose 114% (15).
Blackwell architecture ramp
Nvidia moved Blackwell architecture systems into production (5) and launched Blackwell platform products including the GeForce RTX 50 Series (24, 13); the architecture is gaining traction as the current data center generation (13).
Vera Rubin and Rubin next-generation platforms
Nvidia lists the Vera Rubin Data Center architecture (15) and the Rubin platform as planned for later rollout (14), so traction is not yet realised in revenue.
Gaming (GeForce RTX 50 Series)
Gaming revenue reached about 16,000 million in FY2026, up 41% (28), supported by the launch of GeForce RTX 5090 and 5080 and RTX 50 Series laptops (24).
Networking platforms (Spectrum-X, NVLink Fusion)
Nvidia launched the Spectrum-X accelerated networking platform (1) and NVLink Fusion (13), extending attach alongside AI data center systems.
Automotive and Robotics
Automotive and Robotics revenue of about 2,300 million in FY2026 was up 39% (28), a smaller but growing contributor.

Sector trend: Demand for AI accelerators and data center compute is rising sharply, with Data Center revenue up 117% (30) and Compute & Networking up 114% (15). Operating profitability remains very high, with operating income of USD 63,734 million on revenue of USD 96,221 million (30), indicating strong utilisation and elevated margins.

Nvidia Revenue by Type (as of 2027-Q2 · USD million · 9/12)

Where the revenue of Nvidia comes from: segments and product types with share, growth and margin, as of Q2 FY2027, older structures remain in the expandable part. NadirAlpha methodology

Nvidia: revenue by segment, as of 2027-Q2, in USD million. Compiled by NadirAlpha from SEC filings.
SegmentSinceRevenueGrowthSource
Period 2027-Q2 (3M)
Hyperscale2027-Q148,710102%15
AI Clouds, Industrial, & Enterprise2027-Q140,313138%15
Edge Computing2027-Q17,20027%30
Data Center2023-Q489,000117%30
Compute & Networking2023-Q388,299114%15
Graphics2023-Q37,92246%15
Period FY2026 (12M?)
Automotive and Robotics2025-Q12,30039%28
Gaming2023-Q416,00041%28
Professional Visualization2023-Q43,20070%28
Period 2025-Q1 (3M)
Gaming and AI PC2025-Q12,6008%21
Period FY2024 (12M?)
Automotive2024-Q11,10021%20
Period 2023-Q4 (3M)
Automotive and Embedded2023-Q4294135%16

Nvidia Products & announcements (70/186 active+recent)

What Nvidia launched, had approved or announced, from the filings up to Q2 FY2027, each row with the date of first mention. NadirAlpha methodology

Status: PlannedLaunchedStable

Nvidia: product announcements from the filings, 186 entries. Compiled by NadirAlpha from SEC filings.
Product/LineSinceStatusSource
2029
SB Energy PORTS Technology Campus data center202915
2027
Uber autonomous vehicle fleet deployment2027-0329
NVIDIA Vera Rubin platform including Vera CPU2027-0329
NVIDIA OpenShell with privacy and security controls2027-0329
NVIDIA Omniverse NuRec autonomous driving technology2027-0329
NVIDIA Nemotron Coalition2027-0329
NVIDIA NemoClaw for OpenClaw agent platform2027-0329
NVIDIA Halos OS unified safety architecture2027-0329
NVIDIA Dynamo 1.0 open source software2027-0329
NVIDIA DLSS 5 next generation graphics2027-0329
NVIDIA BlueField-4 STX accelerated storage infrastructure2027-0329
NVIDIA Alpamayo 1.5 open model2027-0329
NVIDIA Agent Toolkit open source platform2027-0329
Multi-year strategic agreements with Coherent, Corning and Lumentum2027-0329
Google Gemini models on Google Distributed Cloud with Blackwell2027-0329
Vera Rubin Data Center architecture202715
New AI cloud business model202715
2026
Nemotron 3 family of open models2026-1228
NVIDIA G-SYNC Pulsar2026-1228
NVIDIA Earth-2 family of models2026-1228
NVIDIA BioNeMo expansion2026-1228
NVIDIA Alpamayo family for autonomous vehicles2026-1228
Mercedes-Benz CLA with NVIDIA DRIVE AV software2026-1228
NVIDIA Rubin CPX2026-0927
NVIDIA RTX Remix update with advanced path-traced particle system2026-0927
NVIDIA NVQLink2026-0927
NVIDIA IGX Thor (2x)2026-0929
NVIDIA DRIVE AGX Hyperion 102026-0927
NVIDIA Blueprint for 3D object generation2026-0927
NVIDIA BlueField-42026-0927
NVIDIA Blackwell2026-0927
Equinox supercomputer2026-0927
DOE Solstice supercomputer with Oracle2026-0927
Borderlands 4 with NVIDIA DLSS 4 (2x)2026-0927
ARC Raiders with NVIDIA DLSS 42026-0927
NVIDIA Vera Rubin platform2026-0730
NVIDIA Vera CPU2026-0730
NVIDIA Vera BlueField-4 STX2026-0730
NVIDIA RTX Spark for Windows PC2026-0730
NVIDIA Halos for Robotics2026-0730
NVIDIA DSX platform (2x)2026-0727
NVIDIA DGX Station for Windows2026-0730
NVIDIA BioNeMo Agent Toolkit2026-0730
NVIDIA Alpamayo 2 Super2026-0730
Groq 3 LPX2026-0730
NVIDIA RTX PRO 4500 Blackwell Server Edition GPU (3×)2026-0629
NVIDIA Omniverse libraries and software development kits2026-0626
NVIDIA Jetson AGX Thor developer kit and production modules2026-0626
NVIDIA Halos full-stack safety platform2026-0626
NVIDIA DRIVE AGX Thor system-on-a-chip2026-0626
NVFP4 4-bit format2026-0626
Blackwell for GeForce NOW with Install-to-Play2026-0626
Blackwell Ultra platforms2026-066
NVIDIA research center in Japan with quantum research supercomputer2026-0325
NVIDIA Rubin platform2026-0328
NVIDIA AI factories in U.S.2026-0325
HUMAIN AI factories in Kingdom of Saudi Arabia2026-0325
AI factory supercomputer with Foxconn and Taiwan government2026-0325
H200 licensing for China2026-0214
Rubin platform202614
NVIDIA NVLink Fusion202613
NVIDIA BlueField-4 data processor for Inference Context Memory Storage Platform202628
2025
DGX Spark (2×)2025-0927
H20 licensed sales to China (2×)2025-0813
NVIDIA Spectrum-XGS Ethernet (2×)2025-0626
Blackwell Ultra platforms including GB3002025-0613
NVIDIA RTX PRO Blackwell series (2×)2025-0328
NVIDIA Isaac GR00T Reference Humanoid Robot (2×)2025-0330
NVIDIA Isaac GR00T N1.5 (4×)2025-0329
NVIDIA GeForce RTX 5060 (2×)2025-0326
Blackwell Production Ramp2025-123
Blackwell Data Center Architecture2025-124
H20 product licensing under USG restrictions2025-087
H20 license for certain China-based customers2025-088
RTX Games Total 600+2025-063
NVIDIA Inference Microservices (NIM) Broad Availability2025-063
NVIDIA H200 and Blackwell B200 MLPerf Results2025-063
NVIDIA Autonomous Grand Challenge Win2025-063
GeForce NOW Expansion to Japan2025-063
Blackwell GPU Mask Change2025-063
AI Diffusion IFR rescission announcement2025-056
H20 export licensing requirement2025-046
Stargate UAE AI infrastructure cluster2025-0325
Nintendo Switch 22025-0325
NVIDIA RTX Remix modding platform2025-0325
NVIDIA Dynamo2025-0325
NVIDIA DLSS 3 (3×)2025-039
NVIDIA DGX Spark and DGX Station personal AI supercomputers2025-0325
NVIDIA Cosmos 3 (4×)2025-0324
NVIDIA Blackwell Ultra2025-0325
Half-Life 2 RTX demo2025-0325
NVIDIA Spectrum-X Ethernet networking switches (3×)202519
NVIDIA Reflex 2 technology202524
NVIDIA RTX 500 and 1000 professional Ada generation laptop GPUs20252
NVIDIA Project DIGITS personal AI supercomputer202524
NVIDIA Media2 AI-powered content initiative202524
NVIDIA Jetson Orin Nano Super202524
NVIDIA DRIVE Thor platform adoption by BYD, XPENG, GAC AION Hyper, Nuro20252
NVIDIA DLSS 4 with Multi Frame Generation202524
NVIDIA Blackwell architecture202513
NVIDIA Blackwell GeForce RTX 50 Series202513
NVIDIA AI Enterprise 5.0 with NIM Inference Microservices20252
Lucid and IM Motors adoption of NVIDIA DRIVE Orin platform20252
Grace Hopper Superchips deployment in nine new supercomputers20252
GeForce RTX 5090 and 5080 graphics cards (2x)202524
China-specific Data Center products not requiring export licenses20254
Blackwell architecture production systems20255
Blackwell GPU architecture20257
2024
NVIDIA RTX 2000 Ada Generation GPU2024-1220
NVIDIA NeMo Retriever2024-1220
GeForce RTX 40-Series SUPER GPUs2024-1220
xAI Colossus supercomputer cluster with 100,000 NVIDIA Hopper GPUs and NVIDIA Spectrum-X Ethernet networking2024-1023
Volvo new electric SUV built on NVIDIA accelerated computing2024-1023
SoftBank AI supercomputer with NVIDIA Blackwell platform and world's first combined AI and 5G telecom network2024-1023
RTX AI PCs from ASUS and MSI with Microsoft Copilot+ capabilities2024-1023
Project GR00T AI and simulation tools for robot learning and humanoid development2024-1023
NVIDIA Hopper H200-powered instances in AWS, CoreWeave, Microsoft Azure; Google Cloud and Oracle Cloud coming soon2024-1023
NVIDIA Holoscan for Media platform for AI-enabled media and video pipelines2024-1023
NVIDIA Blackwell design foundational elements contributed to Open Compute Project2024-1023
NVIDIA AI Aerial platform launch for telecommunications2024-1023
Foxconn using NVIDIA Omniverse for digital twins; three factories for GB200 Grace Blackwell Superchips brought online faster2024-1023
Denmark's largest sovereign AI supercomputer with NVIDIA DGX SuperPOD and 1,528 H100 Tensor Core GPUs2024-1023
Blackwell GPU on MLPerf Training benchmarks with up to 2.2x performance gains2024-1023
20 new GeForce RTX and DLSS titles including Indiana Jones and the Great Circle and Dragon Age: The Veilguard2024-1023
Star Wars Outlaws on GeForce NOW2024-0822
Share Repurchase Authorization Increase2024-083
Project G-Assist technology preview2024-0822
NVIDIA ACE generative AI suite with Nemotron-4 4B available in early access2024-0822
GeForce NOW service launched in Japan2024-0822
Blackwell B200 processor samples shipping2024-0822
Black Myth: Wukong on GeForce NOW2024-0822
Quarterly Cash Dividend Increase2024-063
NVIDIA GH200 with HBM3e memory (second-generation)2024-0618
Spectrum-X market expansion2024-0521
NVIDIA Spectrum X800 series switches2024-0521
NVIDIA Quantum switches2024-0521
NVIDIA AI Enterprise 5.0 launch2024-0521
Blackwell platform in full production2024-0521
NVIDIA Spectrum-X integration in Dell, HPE, Lenovo servers2024-0312
Six new GPUs based on NVIDIA RTX Ada Lovelace architecture202410
Project Helix collaboration with Dell Technologies for full-stack generative AI solutions202410
NVIDIA RTX Ada Lovelace architecture GPUs (Professional Visualization)20241
NVIDIA DGX Cloud launch (2x)20249
NVIDIA DGX Cloud and AI Foundations20241
NVIDIA AI Foundations introduction202410
Microsoft Azure H200 GPU instances202419
Grace CPU and Grace Hopper Superchip shipments began20241
Google Cloud as first cloud provider to offer NVIDIA L4 Tensor Core GPU202410
GeForce RTX 4060 and 4070 GPUs (Ada Lovelace architecture)20241
Four AI inference platforms combining full-stack inference software launched202410
Collaboration with Medtronic on AI platform for medical devices202410
BYD Auto to extend use of NVIDIA DRIVE Orin platform202410
2023
Microsoft 10-year agreement for Xbox PC games on GeForce NOW2023-1216
Lockheed Martin collaboration for digital weather twin2023-1216
GeForce RTX 4070 Ti2023-1216
GeForce RTX 40 Series for laptops2023-1216
GeForce NOW Ultimate membership tier2023-1216
Dell PowerEdge systems with NVIDIA acceleration (15 next-generation systems)2023-1216
DLSS 3 availability in 50+ games and apps2023-1216
NVIDIA GH200 Grace Hopper Superchip (2x)2023-1011
RTX 5000, RTX 4500, RTX 4000 desktop workstation GPUs2023-0918
NVIDIA Spectrum-X2023-0918
H100 Tensor Core GPU cloud instances with AWS, Azure2023-0918
NVIDIA Omniverse Cloud in Microsoft Azure (2x)2023-0310
GeForce RTX 4070 GPU2023-0310
GeForce RTX 4060 family of GPUs2023-0317
TensorRT-LLM for Windows (2x)20231
NVIDIA Spectrum-X accelerated networking platform (2x)20231
NVIDIA RTX 6000 Ada Generation workstations (5x)20232
NVIDIA Omniverse platform (major release)202311
NVIDIA Omniverse Cloud (6x)20231
NVIDIA MGX server reference design202311
NVIDIA L40S GPU202311
NVIDIA Hopper GPU architecture20239
NVIDIA Grace CPU202313
NVIDIA DRIVE Thor20239
NVIDIA DRIVE Orin autonomous vehicle SOC20239
Hopper architecture GPU with flagship H10020239
GeForce RTX 4090, RTX 4080, RTX 4070 Ti desktop GPUs20239
GeForce RTX 4060 family202311
GeForce RTX 40 Series gaming GPUs20239
Earth-2 digital twin platform20239
DLSS 3.5 Ray Reconstruction20231
Ada Lovelace GPU architecture20239
AI foundry service (2×)202312
2017
NVIDIA Tensor Core GPU (3x)201719

Nvidia Transactions & Events (23)

Transactions of Nvidia since 2024: acquisitions, disposals, agreements and regulation, deliberately including smaller items; purchase prices only when the company names them. NadirAlpha methodology

Acquisitions · 2Partnerships/contracts · 14Divestitures/exits · 1older: 6 (in the table)
202520262027

Acquisitions by Nvidia

Nvidia: Acquisitions, 3 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2026
Lilly co-innovation AI lab2026-12Announced28
2025
OpenAI investment opportunity letter of intent2025-09Completed8
2020
Mellanox acquisition2020Completed13

Divestitures and exits by Nvidia

Nvidia: Divestitures / exits, 3 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2027
Strategic partnership with Marvell via NVLink Fusion2027-03Divested29
2022
Arm Share Purchase Agreement termination2022-02Divested9
Arm Limited acquisition2022-02Divested9

Partnerships and contracts of Nvidia

Nvidia: Partnerships & contracts, 17 entries. Compiled by NadirAlpha from SEC filings.
Transaction / stakeDateTypeSource
2027
Hyundai Motor Company and Kia next-generation autonomous driving partnership2027-03Agreement29
2026
Siemens industrial AI operating system partnership2026-12Agreement28
Dassault Systèmes industrial AI platform partnership2026-12Agreement28
Meta multiyear strategic partnership2026Agreement28
Investment and partnership agreement with OpenAI2026Agreement13
Groq licensing agreement2026Agreement28
Anthropic investment and partnership2026Agreement28
2025
Anthropic equity investment agreement2025-11Agreement8
Intel Corporation equity investment commitment2025-09Agreement8
Stargate Project partnership2025Agreement24
2024
Partnership with Foxconn to build Taiwan's fastest AI supercomputer with NVIDIA Blackwell2024-10Agreement23
Partnership expansion with Lenovo for hybrid AI solutions and systems2024-10Agreement23
Partnership with ServiceNow for generative AI across enterprise IT2024Agreement10
Collaboration with Foxconn for next-generation electric vehicles2024Agreement1
2023
Foxconn strategic partnership for autonomous vehicle platforms2023-12Agreement16
Partnership with XPENG for G6 Coupe SUVs using NVIDIA DRIVE Orin2023Agreement11
Partnership with MediaTek for automotive systems on chips2023Agreement1

Nvidia Risks (72 since the annual report of 2026-02-25, 211 tracked in total)

Which risks Nvidia has named since the annual report, company-specific first, generic standard risks in the expandable part; first mention refers to the document base from 2023. NadirAlpha methodology

Category: FinancialSupply chainMacroLegalStrategyCompetitionCustomersRegulatoryGeopoliticsTechnologyMarketCyberPeople

Nvidia: risk factors as reported, 72 since the last annual report, 211 tracked. Compiled by NadirAlpha from SEC filings.
RiskCategoryLast reported
Nvidia: first mention in 10-Q quarterly report of 2026-08-26 (2027-Q2), source 15
$279 billion supply and capacity commitments expose to financial risk if demand changes.=
Global supply chain for networking products complex with exposure to Taiwan and South Korea.=
Middle East conflict and global tensions impact supply chain and operations.=
Complex export control compliance and potential violations expose NVIDIA to fines and sanctions.=
Customer and partner data center buildout dependent on land, power, shell availability.=
Nvidia: first mention in 10-Q quarterly report of 2023-11-21 (2024-Q3), source 12
Export controls harm competitive position and benefit competitors.2027-Q2
2026-08-26 15
Nvidia: first mention in 10-K annual report of 2023-02-24 (FY2023), source 9
$33.5 billion in senior notes outstanding requires significant debt service.2027-Q2
2026-08-26 15
Revenue concentrated among limited number of direct and indirect customers.2027-Q2
2026-08-26 15
Export restrictions on H200 and other data center products to China limit revenue potential.2027-Q2
2026-08-26 15
EU AI Act and new state regulations increase compliance costs and complexity.2027-Q2
2026-08-26 15
Nvidia: first mention in 10-Q quarterly report of 2026-05-20 (2027-Q1), source 14
$30.2 billion in marketable equity securities subject to significant market price volatility; 10% decline would decrease fair value by $3.9 billion.=
Supply constraints or availability issues with components necessary for finished products could have broader revenue impact.=
Business depends on consistent and reliable supply from overseas partners, especially Taiwan and South Korea; new restrictions could negatively impact supply.=
Data center buildout limited by availability of energy, data center infrastructure, and capital; constraints could delay customer deployments.=
Tariff exposure, including 25% U.S. tariff on H200 imports, could increase product costs and limit competitiveness.=
Increased regulatory scrutiny from EU, U.S., UK, South Korea, Japan, and China regarding sales, business practices, and competitive behavior.=
Chinese government encouraging customers to purchase from local competitors and discouraging use of NVIDIA data center products.=
Export licenses for H200 and other products contain burdensome conditions and uncertain approval timelines, limiting addressable market.=
Regulators in China questioned compliance with U.S. export controls related to Mellanox acquisition terms; violations could result in penalties.=
Increasing frequency and complexity of new architecture introductions magnifies supply/demand management challenges and creates revenue volatility.=
Gray market and reseller marketplaces compete with new products and official distribution channels.=
Certain customers developing their own ASICs optimized for specific workloads could reduce demand for NVIDIA data center systems.=
Mercurial demand from new use cases, including cryptocurrency mining, makes demand estimation with precision difficult.=
Compliance with complex laws and regulations domestically and worldwide affecting operations in multiple jurisdictions could increase costs and operational constraints.=
EU AI Act and state AI regulations may impact ability to train, deploy, or release AI models and increase compliance costs.=
Nvidia: first mention in 8-K-EX99.1 earnings release of 2026-02-25 (2026-Q4), source 28
Company faces restrictions on revenue from China sales=
Market acceptance of NVIDIA's products and partners' products=
NVIDIA not assuming any Data Center compute revenue from China in Q1 FY2027 outlook=
Intense competition in AI accelerated computing market=
Expectations regarding supply and demand for products including inventory and distribution=
Nvidia: first mention in 10-K annual report of 2026-02-25 (FY2026), source 13
Inventory provisions totaled $7.2 billion in fiscal year 2026 including $4.5 billion H20 charge; excess inventory or purchase commitments from demand changes.=
H200 products shipped under new licensing program subject to 25% tariff upon importation into United States; may not be able to pass tariff along to customers.=
Final assembly and significant portion of product components concentrated in Asia including Taiwan and South Korea; export controls could disrupt supply and distribution.=
Defending securities class action lawsuit from shareholders asserting false statements about channel inventory and cryptocurrency mining impact on GPU demand in 2017-2018.=
$4.0 billion unrecognized tax benefits with $374 million related interest and penalties=
Complex and expanding export control restrictions on GPUs and semiconductors associated with AI; broader geographic scope possible including Europe, Latin America, Southeast Asia.=
China regulators found NVIDIA compliance with U.S. export controls violated Mellanox acquisition terms; potential financial penalties or business restrictions in China.=
Internal Revenue Service examination for fiscal years 2023 and 2024=
Export controls disproportionately impact NVIDIA; competitors building larger developer and customer ecosystems; customers incentivized to design-out U.S. semiconductors.=
Tax law changes could increase effective tax rate or reduce FDDEI deduction benefit; OECD Pillar Two implementation could increase tax obligations.=
Rise in high-quality open-source foundation models making advanced AI broadly accessible; if deployed on competitors platforms could reduce demand.=
Intense competition with new entrants and expanding product offerings may reduce market share=
Nvidia: first mention in 10-Q quarterly report of 2025-08-27 (2026-Q2), source 7
Rapid growth of open-source foundation models deployed on competitor platforms could reduce demand for NVIDIA products.2027-Q1
2026-05-20 14
Subject to complex laws and regulations; potential litigation and regulatory penalties for compliance violations.=
Nvidia: first mention in 10-Q quarterly report of 2025-05-28 (2026-Q1), source 6
Ongoing antitrust investigations from EU, US, UK, China, South Korea regulators.=
Nvidia: first mention in 10-K annual report of 2025-02-26 (FY2025), source 5
Failure to meet evolving needs of industry and markets may adversely impact financial resultsFY2026
2026-02-25 13
Nvidia: first mention in 10-Q quarterly report of 2024-05-29 (2025-Q1), source 2
Multiple regulations from different jurisdictions related to AI, data privacy, sustainability, and other areas increase cost of doing business.FY2026
2026-02-25 13
Nvidia: first mention in 10-K annual report of 2024-02-21 (FY2024), source 1
Approximately 6,000 employees in Israel region support research and development, operations, and sales and marketing; geopolitical conflict could impact product development.FY2026
2026-02-25 13
10% USD strengthening would adversely impact competitive positionFY2026
2026-02-25 13
0.5% yield curve decrease would reduce investment portfolio fair valueFY2026
2026-02-25 13
Nvidia: first mention in 10-Q quarterly report of 2023-11-21 (2024-Q3), source 12
Ongoing legal proceedings and regulatory investigations in multiple jurisdictions.2026-Q3
2025-11-19 8
Tariffs, inflation, interest rate changes, capital market volatility impact business; product pricing generally does not fluctuate with short-term cost changes.FY2026
2026-02-25 13
Nvidia: first mention in 10-Q quarterly report of 2023-08-28 (2024-Q2), source 11
Third-party suppliers control manufacturing, assembly, testing reducing control over quality and deliveryFY2026
2026-02-25 13
Business exposed to burden and risks of litigation, investigations and regulatory proceedingsFY2026
2026-02-25 13
Nvidia: first mention in 8-K-EX99.1 earnings release of 2023-08-23 (2024-Q2), source 18
Reliance on third parties to manufacture, assemble, package and test products2026-Q4
2026-02-25 28
Global economic and political conditions could impact demand2026-Q4
2026-02-25 28
Product defects and security vulnerabilities could result in significant remediation expenses and reputation damageFY2026
2026-02-25 13
Nvidia: first mention in 10-Q quarterly report of 2023-05-26 (2024-Q1), source 10
Geopolitical conflicts, particularly in Middle East and Ukraine, could disrupt supply chain, particularly Israel operations with ~5,900 employees.2027-Q1
2026-05-20 14
Long manufacturing lead times and uncertain supply availability combined with inaccurate demand estimates could cause significant inventory mismatches and revenue volatility.2027-Q1
2026-05-20 14
Extensive U.S. export control restrictions on AI semiconductors, particularly targeting China and D:5 countries, significantly limit addressable market.2027-Q1
2026-05-20 14
Cyber-attacks and security breaches could disrupt operations, reduce revenue and harm reputationFY2026
2026-02-25 13
Involved in lawsuits alleging patent infringement or IP rights violations; unfavorable ruling could include significant damages or injunctive relief.FY2026
2026-02-25 13
Nvidia: first mention in 10-K annual report of 2023-02-24 (FY2023), source 9
Intensifying competition from companies with longer operating histories and greater financial resources could impact market share.2027-Q1
2026-05-20 14
Subject to complex data privacy laws including GDPR CCPA and China cyber regulations; non-compliance could result in fines or restrictions on data processing.FY2026
2026-02-25 13
Changes in tax laws and additional tax liabilities may adversely impact operating resultsFY2026
2026-02-25 13
Natural disasters, pandemics and conflicts could disrupt supply chain and operationsFY2026
2026-02-25 13
International operations expose business to political conditions, trade restrictions and currency fluctuationsFY2026
2026-02-25 13
Climate change impacts water and energy availability; extreme weather could disrupt operations including Santa Clara headquarters and data centers.FY2026
2026-02-25 13
Recession, inflation, currency fluctuations and tariffs could reduce demand and increase supply chain costsFY2026
2026-02-25 13
Labor shortage in semiconductor industry; competition for skilled workers drives up compensation costs; stock price volatility reduces retentive value of stock-based compensation.FY2026
2026-02-25 13
IP protection in foreign jurisdictions may be inadequate, increasing piracy riskFY2026
2026-02-25 13
Risks related to acquisitions including integration challenges, dilution, and realization of anticipated benefits; finalizing investment and partnership agreement with OpenAI.FY2026
2026-02-25 13
= last mention identical with the first mention (same source)

Nvidia Reported KPIs (as disclosed) (219)

NadirAlpha collects 219 reported KPIs of Nvidia from the filings up to Q2 FY2027; the definition comes from the company, period and source are stated at every value. NadirAlpha methodology

Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
Nvidia: reported KPIs as disclosed, 219 entries. Compiled by NadirAlpha from SEC filings.
KPIValue / changeSource
Nvidia, published 2026-08-26, period 2027-Q2
Shares repurchased and cash dividendsapproximately $26.0 billion30
Remaining share repurchase authorizationapproximately $99.0 billion30
Quarterly cash dividend per share$0.2530
Unrecognized Tax Benefits$5.0 billion15
Net cash provided by operating activities$74,42115
Marketable equity securities$42.8 billion15
Marketable debt securities$34,14315
Edge Computing revenue$7.2 billion30
Data Center revenue$89.0 billion30
Cash, cash equivalents, and marketable debt securities$56,58615
Cash and cash equivalents$22,44315
Nvidia, published 2026-05-20, period 2027-Q1
unrecognized tax benefits4.5 billion14
shares repurchased108 million14
share repurchases20.2 billion14
share repurchase authorization remaining38.5 billion14
publicly held equity securities hypothetical decline prior1.8 billion decrease at 10% decline14
publicly held equity securities hypothetical decline3.9 billion decrease at 10% decline14
no China data center Hopper shipments014
new share repurchase authorization80.0 billion14
net carrying amount debt8,47014
marketable equity securities30.2 billion14
marketable debt securities37,09814
International Revenue % Prior Year42%14
International Revenue % Current22%14
Indirect Customer Revenue Concentrationsignificant amount14
Gross Margin Unfavorable Impact1.2%14
Effective Tax Rate16.6%14
Ecosystem Investments18.6 billion14
Dividend Per Share Previous0.0114
Dividend Per Share New0.2514
Direct Customer Concentration Top 321%, 17%, and 16% of total revenue14
Direct Customer Concentration Prior Year Top 216% and 14% of total revenue14
Debt Due Within One Year1,00014
Debt Due One to Five Years2,75014
Debt Due Greater Than Ten Years3,50014
Debt Due Five to Ten Years1,25014
Commercial Paper Outstanding014
Commercial Paper Authorization25.0 billion14
Cash Dividends243 million14
Cash and Equivalents13,23714
Edge Computing revenue$6.4 billion29
Data Center revenue$75.2 billion29
Data Center networking revenue$14.8 billion29
Data Center compute revenue$60.4 billion29
Nvidia, published 2026-02-25, period FY2026
Unrecognized Tax Benefits4.0 billion13
Share Repurchases282 million shares for $40.4 billion13
Private company investments$17.5 billion13
Operating income margin60.4%13
Net income margin55.6%13
Land power shell guarantees$3.5 billion13
Income tax expense21.4 billion13
H20 revenueapproximately $60 million13
Gross margin71.1%13
Effective tax rate15.1%13
Data Center revenue growth59%13
Data Center networking growth142%13
Capital expenditures6.1 billion13
Nvidia, published 2026-02-25, period 2026-Q4
Professional Visualization revenue$1.3 billion28
Gaming revenue$3.7 billion28
Data Center revenue$62.3 billion28
Automotive revenue$604 million28
Nvidia, published 2025-11-19, period 2026-Q3
Total liquidity60,6088
Share repurchase authorization62.2 billion8
Marketable securities49,1228
Committed Intel investment5 billion8
Committed Anthropic investment10 billion8
Cash and Equivalents11,4868
Share repurchase authorization remaining62.2 billion27
Quarterly cash dividend per share0.0127
Professional Visualization revenue760 million27
Gaming revenue4.3 billion27
Data Center revenue51.2 billion27
Cash returned to shareholders37.0 billion27
Automotive revenue592 million27
Nvidia, published 2025-08-27, period 2026-Q2
Shareholder returns (H1 FY2026)$24.3 billion26
Remaining share repurchase authorization (end Q2)$14.7 billion26
Professional Visualization revenue$601 million26
Next quarterly cash dividend per share$0.0126
Net cash used in investing activities$(12,343)7
Net cash used in financing activities$(27,386)7
Net cash provided by operating activities$42,7797
Marketable securities$45,1527
H20 unrestricted sales$650 million26
Gross margin72.4%7
Gaming revenue$4.3 billion26
Data Center revenue$41.1 billion26
Cash, cash equivalents and marketable securities$56,7917
Cash and cash equivalents$11,6397
Blackwell Data Center sequential growth17%26
Automotive revenue$586 million26
Additional share repurchase authorization$60.0 billion26
Nvidia, published 2025-05-28, period 2026-Q1
Professional Visualization revenue$509 million25
Gaming revenue$3.8 billion25
Data Center revenue$39.1 billion25
Automotive and Robotics revenue$567 million25
Nvidia, published 2025-02-26, period FY2025
shares repurchased310 million shares5
share repurchases$34.0 billion5
Operating cash flow$64,089 million5
Marketable securities$34,621 million5
Investing cash flow$(20,421) million5
Financing cash flow$(42,359) million5
Cash Dividends$834 million5
Cash and marketable securities$43,210 million5
Cash and Equivalents$8,589 million5
Capex$3.4 billion5
Professional Visualization revenue$1.9 billion24
Gaming revenue$11.4 billion24
Data Center revenue$115.2 billion24
Automotive and Robotics revenue$1.7 billion24
Nvidia, published 2024-11-20, period 2025-Q3
Unrecognized Tax Benefits1.9 billion4
Share repurchase authorization remaining46.4 billion4
Revenue from sales outside United States58%4
Revenue from sales outside United States55%4
Professional Visualization revenue$486 million23
Networking revenue3.1 billion4
Gaming revenue$3.3 billion23
Data Center revenue$30.8 billion23
Data Center compute revenue27.6 billion4
Customer D percentage of total revenue12%4
Customer C percentage of total revenue12%4
Customer C percentage of total revenue11%4
Customer B percentage of total revenue12%4
Customer B percentage of total revenue11%4
Customer A percentage of total revenue12%4
Commercial paper program575 million4
Commercial paper outstanding04
Cloud service providers percentage of Data Center revenue50%4
Automotive revenue$449 million23
Nvidia, published 2024-08-28, period 2025-Q2
Shareholder returns (first half FY2025)$15.4 billion22
Share repurchases62.8 million shares for $7.0 billion3
Share repurchase authorization remaining$7.5 billion22
Share repurchase authorization available$53.9 billion3
Revenue from customers outside United States57%3
RTX games and apps>6003
Quarterly cash dividend per share post-Stock Split$0.013
Professional Visualization revenue$454 million22
Net effect on gross margin2.7%3
Inference percentage of trailing four quarters Data Center revenue>40%3
GeForce NOW games>2,0003
Gaming revenue$2.9 billion22
Data Center revenue growth154%3
Data Center revenue$26.3 billion22
Customer D direct sales10%3
Customer C direct sales11%3
Customer B direct sales11%3
Customer A direct sales14%3
Consumer internet and enterprise percentage of Data Center revenue>50%3
Cloud service providers percentage of Data Center revenue~45%3
Automotive revenue$346 million22
Additional share repurchase authorization approved$50.0 billion22
Nvidia, published 2024-05-29, period 2025-Q1
Gross margin78.4%2
Professional Visualization revenue427 million2
Gaming revenue2.6 billion2
Data Center revenue22.6 billion2
Automotive revenue329 million2
Nvidia, published 2024-05-22, period 2025-Q1
Professional Visualization Revenue427 million21
Gaming Revenue2.6 billion21
Data Center Revenue22.6 billion21
Automotive Revenue329 million21
Nvidia, published 2024-02-21, period FY2024
Unrecognized Tax Benefits$1.3 billion1
Shares repurchased in fiscal year21 million1
Shares repurchased January 292.8 million1
Share repurchase authorization remaining$22.5 billion1
Senior Notes net outstanding$9.7 billion1
Related interest and penalties$140 million1
Professional Visualization revenue$1.6 billion1
Investment portfolio fair value change - parallel yield curve shift +/- 0.5%$93 million1
Income tax expense for fiscal year$4.1 billion1
Income tax benefit for fiscal year$187 million1
IRS audit resolution benefit$145 million1
Gaming revenue$10.4 billion1
Foreign exchange contracts impact$112 million1
Foreign exchange contracts impact$116 million1
Effective tax rate fiscal year12.0%1
Effective tax rate fiscal year-4.5%1
Data Center revenue$47.5 billion1
Customer payments received ahead of invoice due date$557 million1
Commercial paper program$575 million1
Commercial paper outstanding01
Cash held outside U.S. for which no foreign or state taxes accrued$1.4 billion1
Cash dividends paid in fiscal year$395 million1
Automotive revenue$1.1 billion1
Amount spent on share repurchases in fiscal year$9.7 billion1
Amount spent on share repurchases January 29$1.9 billion1
Adverse foreign exchange rate change impact on income before taxes$36 million1
Adverse foreign exchange rate change impact on income before taxes$60 million1
Nvidia, published 2024-02-21, period 2024-Q4
RTX installed base100 million20
Professional Visualization revenue Q4$463 million20
Professional Visualization revenue FY24$1.6 billion20
Gaming revenue Q4$2.9 billion20
Gaming revenue FY24$10.4 billion20
Data Center revenue Q4$18.4 billion20
Data Center revenue FY24$47.5 billion20
Automotive revenue Q4$281 million20
Automotive revenue FY24$1.1 billion20
AI-powered RTX games and applications50020
Nvidia, published 2023-11-21, period 2024-Q3
Net cash used in financing activities$(10,004)12
Net cash provided by operating activities$16,59112
Net cash provided by (used in) investing activities$(4,457)12
Marketable securities$12,76212
Cash, cash equivalents and marketable securities$18,28112
Cash and cash equivalents$5,51912
Nvidia, published 2023-08-28, period 2024-Q2
Data Center revenue$10.32 billion11
Nvidia, published 2023-08-23, period 2024-Q2
Professional Visualization revenue379 million18
Gaming revenue2.49 billion18
Data Center revenue10.32 billion18
Automotive revenue253 million18
Nvidia, published 2023-05-26, period 2024-Q1
Unrecognized Tax Benefits$1.11 billion10
Professional Visualization revenue$295 million10
Gaming revenue$2.24 billion10
Data Center revenue$4.28 billion10
Commercial paper program$575 million10
Cash and cash equivalents and marketable securities$15.32 billion10
Automotive revenue$296 million10
Nvidia, published 2023-05-24, period 2024-Q1
Professional Visualization revenue$295 million17
Gaming revenue$2.24 billion17
Data Center revenue$4.28 billion17
Automotive revenue$296 million17
Automotive design win pipeline$14 billion over the next six years17

Nvidia Development

The business development of Nvidia period by period up to Q2 FY2027, each text from the original report of that period, source numbers lead to the source. NadirAlpha methodology

FY2027: Nvidia

Nvidia reported revenue of USD 81,615 million in the first quarter of fiscal year 2027, up 85% year-over-year, driven primarily by Data Center products 14. Revenue rose to USD 96,221 million in the second quarter, up 106% year-over-year, as Blackwell Ultra infrastructure ramped 15. Data Center revenue reached $75.2 billion in Q1 14 and $89.0 billion in Q2 15, accounting for the substantial majority of total revenue in both periods. Net income was USD 58,321 million in the first quarter, up 211% year-over-year, partly reflecting the non-recurrence of a $4.5 billion H20 excess inventory charge in the prior-year period 14, and rose to USD 59,688 million in the second quarter, up 126% year-over-year 15. Nvidia significantly expanded its capital return program during the first half of the year, raising its quarterly dividend from $0.01 to $0.25 per share and announcing an additional $80.0 billion share repurchase authorization in Q1 14, while issuing $25.0 billion in senior unsecured notes in June 2026 15.

FY2026: Nvidia

Nvidia's fiscal year 2026 revenue reached $215.9 billion, up 65% year-over-year, driven by Data Center compute and networking platforms for accelerated computing and AI solutions 13 28. Data Center segment revenue grew 68% to $193.7 billion for the full year, with networking revenue expanding 142% as NVLink compute fabric for GB200 and GB300 systems ramped throughout the year 13. Full-year GAAP gross margin declined 3.9 percentage points to 71.1% from 75.0% in fiscal 2025, reflecting the transition from Hopper HGX systems to Blackwell full-scale datacenter solutions and a $4.5 billion charge in the first quarter for H20 excess inventory and purchase obligations following U.S. government export licensing requirements effective April 9, 2025 13 28. Net income per diluted share was $4.90 for fiscal 2026, up 67% year-over-year, with operating cash flow rising from $64.1 billion to $102.7 billion 13 28. The Blackwell architecture was introduced across data center and gaming markets throughout the year, the Rubin platform was unveiled as the next-generation architecture, and NVIDIA invested $17.5 billion in private companies and infrastructure funds and entered investment agreements with Intel and Anthropic 13 28.

FY2025: Nvidia

In fiscal year 2025 (ending January 26, 2025), NVIDIA reported total revenue of $130.5 billion, up 114% year-over-year, driven primarily by Data Center segment revenue of $115.2 billion, which grew 142% year-over-year 24 5. Revenue expanded sequentially each quarter from $26.0 billion in Q1 to $39.3 billion in Q4, while year-over-year growth rates decelerated from 262% in Q1 to 78% in Q4 as prior-period comparisons became increasingly demanding 21 24. GAAP gross margin expanded to 75.0% from 72.7% in fiscal year 2024, primarily driven by a higher revenue mix from the Data Center segment, though Q2 margins were temporarily impacted by inventory provisions for low-yielding Blackwell material equivalent to 2.7% of revenue 5 3. Operating income grew 147% to $81.5 billion and net income grew 145% to $72.9 billion, while operating cash flow reached $64.1 billion for the full year 5 28. NVIDIA launched the Blackwell architecture during fiscal year 2025, with production systems beginning to ship in Q4 and major cloud providers deploying GB200-based systems globally 5 24.

FY2024: Nvidia

NVIDIA's fiscal year 2024 (ended January 28, 2024) saw total revenue grow 126% year-over-year to $60.9 billion, propelled by Data Center segment revenue surging 217% to $47.5 billion as demand for AI infrastructure and the Hopper GPU computing platform expanded throughout the year (1, 24). Revenue scaled from $7.19 billion in Q1 to a record $22.1 billion in Q4, with each sequential quarter reaching new highs as cloud service providers and enterprises accelerated AI infrastructure build-outs (17, 20). GAAP gross margin improved to 72.7% from 56.9% in FY2023, driven by the shift toward higher-margin Data Center revenue and lower net inventory provisions, while operating income increased 681% to $32.97 billion (1). U.S. government export licensing requirements, expanded in Q2 and again in Q3, reduced China's share of Data Center revenue to a mid-single-digit percentage in Q4 FY2024 from approximately 19% in FY2023 (1, 11, 12). Net cash from operating activities grew to $28.1 billion from $5.6 billion in the prior year, and cash and marketable securities increased to $26.0 billion from $13.3 billion at the start of the fiscal year (1).

FY2023: Nvidia

For fiscal year 2023, NVIDIA reported revenue of $26.97 billion, roughly flat versus the prior year, as a record Data Center segment result of $15.01 billion, up 41% year-over-year, offset steep declines in Gaming (-27% to $9.07 billion) and Professional Visualization (-27% to $1.54 billion) 9 16. GAAP gross margin contracted to 56.9% from 64.9%, driven primarily by $2.17 billion in inventory provisions recorded during the year 9. Net income declined 55% to $4.37 billion, with diluted EPS falling from $3.85 to $1.74; on a non-GAAP basis, diluted EPS was $3.34 9 16. Material one-time items included a $1.35 billion charge related to the termination of the planned Arm Limited acquisition and new U.S. government export license requirements imposed in Q3 FY2023 restricting certain data center products to China and Russia 9. NVIDIA returned $10.44 billion to shareholders through share repurchases and dividends during the fiscal year 9.

Glossary

  • Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
  • Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
  • Op. income (adj.): Adjusted operating income, verbatim and company-defined (non-GAAP), never derived.
  • Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
  • EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
  • EPS adj.: Adjusted earnings per share, verbatim and company-defined (non-GAAP).
  • FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
  • OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
  • Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
  • Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
  • *: derived, the formula is in the hover
  • ≈: calculated, approximation
  • ~: uncertain; the value stays visible, verdicts do not use it
  • °: repaired by a targeted query against the document, or curated with documentary evidence
  • EBIT: EBIT as a fallback: the income statement carries no operating line
  • basic: basic earnings per share as a fallback when diluted is missing

Sources: quarterly reports, annual reports and investor relations documents

52 sources on Nvidia since 2024; the superscript numbers in the chapters refer to these rows, older documents are in the expandable part. NadirAlpha methodology

52 documents · 2016 to 2026 · SEC EDGAR (USA)
Sources for Nvidia stock: 52 original documents, 2016 to 2026. Compiled by NadirAlpha.
#Document typePublished
#16 / #1168-K-EX99.1 earnings release2023-02-22
#910-K annual report2023-02-24
#178-K-EX99.1 earnings release2023-05-24
#1010-Q quarterly report2023-05-26
#188-K-EX99.1 earnings release2023-08-23
#1110-Q quarterly report2023-08-28
#1210-Q quarterly report2023-11-21
#198-K-EX99.1 earnings release2023-11-21
#110-K annual report2024-02-21
#20 / #1208-K-EX99.1 earnings release2024-02-21
#218-K-EX99.1 earnings release2024-05-22
#210-Q quarterly report2024-05-29
#310-Q quarterly report2024-08-28
#228-K-EX99.1 earnings release2024-08-28
#410-Q quarterly report2024-11-20
#238-K-EX99.1 earnings release2024-11-20
#510-K annual report2025-02-26
#24 / #1248-K-EX99.1 earnings release2025-02-26
#610-Q quarterly report2025-05-28
#25 / #1258-K-EX99.1 earnings release2025-05-28
#710-Q quarterly report2025-08-27
#268-K-EX99.1 earnings release2025-08-27
#810-Q quarterly report2025-11-19
#278-K-EX99.1 earnings release2025-11-19
#1310-K annual report2026-02-25
#28 / #1288-K-EX99.1 earnings release2026-02-25
#1410-Q quarterly report2026-05-20
#298-K-EX99.1 earnings release2026-05-20
#1510-Q quarterly report2026-08-26
#308-K-EX99.1 earnings release2026-08-26
Older sources (+22)
Older sources for Nvidia, 22 documents
#Document typePublished
#20110-K annual report2016-03-17
#20310-K annual report2016-03-17
#20710-K annual report2016-03-17
#20210-Q quarterly report2016-08-23
#20410-Q quarterly report2017-05-23
#20510-Q quarterly report2017-08-23
#20610-Q quarterly report2017-11-21
#20810-Q quarterly report2018-05-22
#20910-Q quarterly report2018-08-16
#21010-Q quarterly report2018-11-15
#21110-K annual report2019-02-21
#21510-K annual report2019-02-21
#21210-Q quarterly report2019-05-16
#21310-Q quarterly report2019-08-15
#21410-Q quarterly report2019-11-14
#21910-K annual report2020-02-20
#21610-Q quarterly report2020-05-21
#21710-Q quarterly report2020-08-19
#21810-Q quarterly report2020-11-18
#22010-Q quarterly report2021-05-26
#22110-Q quarterly report2021-08-20
#22210-Q quarterly report2021-11-22

Nvidia Stock FAQ

Is there a management forecast (guidance) for FY2027?

Yes. Management has issued targets for FY2027, including Tax rate. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.

Which additional key figures does Nvidia report?

As reported for Q2 FY2027 (May to Jul 2026): Data Center revenue, Net cash provided by operating activities, Edge Computing revenue. The chapter Reported KPIs lists every value with its source. Revenue is broken down by Hyperscale, AI Clouds, Industrial, & Enterprise, Edge Computing, Data Center.

Does Nvidia pay a dividend?

The filings report on the dividend; most recent entry: dividend per share $0.25 (2027-Q2) (as reported, no assessment of our own). Details with source links are in the report chapters.

Where can I find the official investor relations documents of Nvidia?

NadirAlpha links all 52 original filings used (SEC filings) in the sources chapter: quarterly report, earnings release, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.

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