NVIDIA Corporation · Earnings release

NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2026

•Record quarterly revenue of $68.1 billion, up 20% from Q3 and up 73% from a year ago

•Record quarterly Data Center revenue of $62.3 billion, up 22% from Q3 and up 75% from a year ago

•Record full-year revenue of $215.9 billion, up 65%

SANTA CLARA, Calif.—Feb. 25, 2026―NVIDIA (NASDAQ: NVDA) today reported record revenue for the fourth quarter ended January 25, 2026, of $68.1 billion, up 20% from the previous quarter and up 73% from a year ago. For fiscal 2026, revenue was $215.9 billion, up 65% from a year ago.

For the quarter, GAAP and non-GAAP gross margins were 75.0% and 75.2%, respectively. For fiscal 2026, GAAP and non-GAAP gross margins were 71.1% and 71.3%, respectively.

For the quarter, GAAP and non-GAAP earnings per diluted share were $1.76 and $1.62, respectively. For fiscal 2026, GAAP and non-GAAP earnings per diluted share were $4.90 and $4.77, respectively.

“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,” said Jensen Huang, founder and CEO of NVIDIA. “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.”

During fiscal 2026, NVIDIA returned $41.1 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the fourth quarter, the company had $58.5 billion remaining under its share repurchase authorization.

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on April 1, 2026, to all shareholders of record on March 11, 2026.

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Outlook

Beginning in the first quarter of fiscal 2027, NVIDIA will include stock-based compensation expense in non-GAAP financial measures. Stock-based compensation is a foundational component of NVIDIA’s compensation program to attract and retain world-class talent.

NVIDIA’s outlook for the first quarter of fiscal 2027 is as follows:

•G1Revenue is expected to be $78.0 billion, plus or minus 2%. NVIDIA is not assuming any Data Center compute revenue from China in its outlook.

•G2G3GAAP and non-GAAP gross margins are expected to be 74.9% and 75.0%, respectively, plus or minus 50 basis points, inclusive of a 0.1% impact from stock-based compensation expense.

•G4G5GAAP and non-GAAP operating expenses are expected to be approximately $7.7 billion and $7.5 billion, respectively, inclusive of $1.9 billion of stock-based compensation expense.

G6G7For the full year fiscal 2027, GAAP and non-GAAP tax rates are expected to be between 17.0% and 19.0%, excluding any discrete items and material changes to NVIDIA’s tax environment.

Highlights

Data Center

•Fourth-quarter revenue was a record $62.3 billion, up 22% from the previous quarter and up 75% from a year ago, driven by the major platform shifts — accelerated computing and AI. Full-year revenue rose 68% to a record $193.7 billion.

•Unveiled the NVIDIA Rubin platform, comprising six new chips to deliver up to a 10x reduction in inference token cost, compared with the NVIDIA Blackwell platform; cloud providers Amazon Web Services (AWS), Google Cloud, Microsoft Azure and Oracle Cloud Infrastructure will be among the first to deploy Vera Rubin-based instances.

•Announced that the NVIDIA BlueField®-4 data processor powers the NVIDIA Inference Context Memory Storage Platform, a new class of AI-native storage infrastructure for the next frontier of AI.

•Announced a multiyear, multigenerational strategic partnership with Meta spanning on-premises, cloud and AI infrastructure, including the large-scale deployment of NVIDIA CPUs, networking and millions of NVIDIA Blackwell and Rubin GPUs.

•Revealed that NVIDIA Blackwell Ultra delivers up to 50x better performance and 35x lower cost for agentic AI compared with the NVIDIA Hopper platform, according to new SemiAnalysis InferenceX benchmark results.

•Expanded AWS partnership with new technology integrations across interconnect technology, cloud infrastructure, open models and physical AI.

•Revealed that leading inference providers, including Baseten, DeepInfra, Fireworks AI and Together AI, cut AI costs by up to 10x with open source models on NVIDIA Blackwell.

•Debuted the NVIDIA Nemotron™ 3 family of open models, data and libraries designed to power transparent, efficient and specialized agentic AI development across industries; released new open models, data and tools for agentic AI, physical AI and autonomous vehicle development.

•Announced an investment and deep technology partnership with Anthropic, which is scaling its Claude model on Microsoft Azure, powered by NVIDIA systems.

•Entered into a non-exclusive licensing agreement with Groq to accelerate AI inference at global scale.

•Strengthened a collaboration with CoreWeave to accelerate the buildout of more than 5 gigawatts of AI factories by 2030.

•Announced an expanded strategic partnership with Synopsys to revolutionize engineering and design across industries.

•Announced a co-innovation AI lab with Lilly to reinvent drug discovery in the age of AI.

•Announced a major expansion of NVIDIA BioNeMo™, an open development platform that enables lab-in-the-loop workflows to develop breakthroughs in AI-driven biology and drug discovery.

•Joined the U.S. Department of Energy’s Genesis Mission as a private industry partner to support U.S. AI leadership in key areas including energy, scientific research and national security.

•Launched the NVIDIA Earth-2 family of open models — the world’s first fully open, accelerated set of models and tools for AI weather.

•Revealed that India’s global systems integrators Infosys, Persistent, Tech Mahindra and Wipro are building the next wave of enterprise agents with NVIDIA AI.

•Partnered with global industrial software leaders Cadence, Siemens and Synopsys and India’s largest manufacturers to drive India’s AI boom using applications accelerated by NVIDIA CUDA-X™ and NVIDIA Omniverse™ libraries.

Gaming and AI PC

•Fourth-quarter Gaming revenue was $3.7 billion, up 47% from a year ago, driven by strong Blackwell demand, and down 13% from the previous quarter as channel inventory naturally moderated following a season of strong holiday demand. Full-year revenue rose 41% to a record $16.0 billion.

•Announced NVIDIA DLSS 4.5, delivering major AI-powered advances in graphics quality.

•Launched NVIDIA G-SYNC® Pulsar, extending the ultimate gaming display platform with new levels of motion clarity in esports.

•Advanced NVIDIA RTX™ AI performance and adoption, delivering up to 35% faster large language model inference in leading AI PC frameworks and up to 3x performance in AI-generated visuals.

Professional Visualization

•Fourth-quarter revenue was $1.3 billion, up 74% from the previous quarter and up 159% from a year ago, driven by exceptional demand for Blackwell. Full-year revenue rose 70% to a record $3.2 billion.

•Launched the NVIDIA RTX PRO™ 5000 72GB Blackwell GPU to power larger models and agentic workflows.

•Expanded global availability of NVIDIA DGX Spark™ for the latest open models and delivered updates for improved performance.

Automotive and Robotics

•Fourth-quarter Automotive revenue was $604 million, up 2% from the previous quarter and up 6% from a year ago, driven by continued adoption of NVIDIA’s self-driving platforms. Full-year revenue rose 39% to a record $2.3 billion.

•Unveiled the NVIDIA Alpamayo family of open AI models, simulation tools and datasets designed to accelerate the next era of safe, reasoning‑based autonomous vehicle (AV) development.

•Partnered with Mercedes-Benz on the all-new Mercedes-Benz CLA, which introduces enhanced level 2 driver assistance powered by NVIDIA DRIVE AV software, AI infrastructure and accelerated compute.

•Announced that the NVIDIA DRIVE Hyperion™ ecosystem is expanding to include tier 1 suppliers, automotive integrators and sensor partners including Aeva, AUMOVIO, Astemo, Arbe, Bosch, Hesai, Magna, Omnivision, Quanta, Sony and ZF Group.

•Announced new NVIDIA Cosmos™ and NVIDIA Isaac™ GR00T open models, frameworks and AI infrastructure for physical AI; global industry leaders including Boston Dynamics, Caterpillar, Franka Robotics, Humanoid, LG Electronics and NEURA Robotics are using the NVIDIA robotics stack.

•Expanded a strategic partnership with Siemens to build the industrial AI operating system.

•Announced a strategic partnership with Dassault Systèmes to build an industrial AI platform powering virtual twins.

CFO Commentary

Commentary on the quarter by Colette Kress, NVIDIA’s executive vice president and chief financial officer, is available at https://investor.nvidia.com.

Conference Call and Webcast Information

NVIDIA will conduct a conference call with analysts and investors to discuss its fourth quarter and fiscal 2026 financial results and current financial prospects today at 2 p.m. Pacific time (5 p.m. Eastern time). A live webcast (listen-only mode) of the conference call will be accessible at NVIDIA’s investor relations website, https://investor.nvidia.com. The webcast will be recorded and available for replay until NVIDIA’s conference call to discuss its financial results for its first quarter of fiscal 2027.

Non-GAAP Measures

To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. The reconciliations for fiscal years 2025 and 2026 adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains/losses from non-marketable and publicly-held equity securities, net, interest expense related to amortization of debt discount, and the associated tax impact of these items where applicable.

Beginning in the first quarter of fiscal 2027, NVIDIA’s non-GAAP financial measures will no longer exclude stock-based compensation expense. Free cash flow is calculated as GAAP net cash provided by operating activities less both

purchases related to property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

About NVIDIA

NVIDIA (NASDAQ: NVDA) is the world leader in AI and accelerated computing.

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For further information, contact:

Toshiya Hari

Mylene Mangalindan

Investor Relations

Corporate Communications

NVIDIA Corporation

NVIDIA Corporation

toshiyah@nvidia.com

mmangalindan@nvidia.com

Certain statements in this press release including, but not limited to, statements as to: computing demand growing exponentially; Grace Blackwell with NVLink being the king of inference today — delivering an order-of-magnitude lower cost per token — and Vera Rubin extending that leadership even further; enterprise adoption of agents skyrocketing; NVIDIA’s customers racing to invest in AI compute — the factories powering the AI industrial revolution and their future growth; expectations with respect to growth, performance and benefits of NVIDIA’s products, services and technologies, including Blackwell, and related trends and drivers; expectations with respect to supply and demand for NVIDIA’s products, services and technologies, including Blackwell, and related matters including inventory, production and distribution; expectations with respect to NVIDIA’s third party arrangements, including with its collaborators and partners; expectations with respect to technology developments, including Vera Rubin, and related trends and drivers; future NVIDIA cash dividends or other returns to stockholders; NVIDIA’s financial and business outlook for the first quarter of fiscal 2027 and beyond; projected market growth and trends; expectations with respect to AI and related industries; and other statements that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections based on management’s beliefs and assumptions and on information currently available to management and are subject to risks and uncertainties that could cause results to be materially different than expectations.

Important factors that could cause actual results to differ materially include: global economic and political conditions; NVIDIA’s reliance on third parties to manufacture, assemble, package and test NVIDIA’s products; the impact of technological development and competition; development of new products and technologies or enhancements to NVIDIA’s existing products and technologies; market acceptance of NVIDIA’s products or NVIDIA’s partners’ products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of NVIDIA’s products or technologies when integrated into systems; NVIDIA’s ability to realize the potential benefits of business investments or acquisitions; and changes in applicable laws and regulations, as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q.

Copies of reports filed with the SEC are posted on the company’s website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2026 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo, DGX Spark, BlueField, NVIDIA DRIVE Hyperion, NVIDIA RTX, NVIDIA RTX PRO, NVIDIA Cosmos, NVIDIA Isaac, Nemotron, BioNeMo, CUDA-X, Omniverse and G-SYNC are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and/or other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability and specifications are subject to change without notice.

NVIDIA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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NVIDIA CORPORATION

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NVIDIA CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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Supplemental disclosures of cash flow information:

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NVIDIA CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

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GAAP net income

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Diluted net income per share

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Weighted average shares used in diluted net income per share computation

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Purchases related to property and equipment and intangible assets

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*Tax expense included represents impact from OBBBA (One Big Beautiful Bill Act).

**Includes H20 charges/(releases), net, which were $4.5 billion and ($180 million) for the first and second quarter of fiscal 2026, respectively, and insignificant for both the third and fourth quarter of fiscal 2026.

(A) Acquisition-related and other costs are comprised of amortization of intangible assets, transaction costs, and certain compensation charges and are included in the following line items:

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(C) Interest expense related to acquisition consideration discount to be paid in the future and amortization of debt discount.

(D) Income tax impact of non-GAAP adjustments, including the recognition of excess tax benefits or deficiencies related to stock-based compensation under GAAP accounting standard (ASU 2016-09).

NVIDIA CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP OUTLOOK

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*Beginning in the first quarter of fiscal 2027, NVIDIA will include stock-based compensation expense in its non-GAAP financial measures. Stock-based compensation expense for the first quarter of fiscal 2027 is expected to have a 0.1% impact on non-GAAP gross margin and $1.9 billion in non-GAAP operating expenses.