Nvidia Earnings Report: Record $215.9bn Year as AI Sales Surge

The nvidia earnings report shows NVIDIA posted record fiscal 2026 revenue of $215. 9 billion, with fourth-quarter sales of $68. 1 billion — a 73% jump year-over-year — underscoring strong demand for AI compute even as investors raise questions about the scale of AI spending.

Nvidia Earnings Report

For the quarter ended January 25, 2026, NVIDIA logged $68. 1 billion in revenue, up 20% from the prior quarter and up 73% from a year earlier; full-year revenue was $215. 9 billion, up 65% from the prior year. GAAP and non-GAAP gross margins for the quarter were 75. 0% and 75. 2%, respectively, while for fiscal 2026 the company reported GAAP and non-GAAP gross margins of 71. 1% and 71. 3%.

Quarterly profit metrics and shareholder returns

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. During fiscal 2026, NVIDIA returned $41. 1 billion to shareholders through share repurchases and cash dividends, and had $58. 5 billion remaining under its share repurchase authorization at the end of the fourth quarter. The company will pay a quarterly cash dividend of $0. 01 per share on April 1, 2026, to shareholders of record on March 11, 2026.

What Jensen Huang highlighted

Founder and CEO Jensen Huang framed the results around escalating computing demand. He said, "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. " He added that "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. " A shorter version of the message was also published: "Computing demand is growing exponentially, " Huang said, and that customers are racing to invest in AI compute.

China sales, H200 chips and regulatory notes

The company has been part of a geopolitical tug-of-war over advanced chips. Last month the Trump administration began allowing NVIDIA to sell its H200 chips — described in the provided context as NVIDIA's second-most advanced type — to Chinese customers under certain conditions. The outlook released with the results did not include expectations about chip revenue in China, and a US Commerce Department official told lawmakers that none of those H200 chips have yet been sold to Chinese customers.

Scrutiny, product moves and CES reveal

Investors have scrutinized NVIDIA’s expanding web of deals with other companies, and critics have raised the spectre of "circular financing" deals in which investments by NVIDIA in other companies may be clouding perceptions about how robust AI demand really is. Outside the chip business, NVIDIA is expanding its product line: at CES in Las Vegas the company unveiled a new tech platform for self-driving cars, and Huang said the open-source AI model called "Alpamayo" will bring reasoning to autonomous vehicles.

Outlook, accounting changes and next investor events

NVIDIA said it will begin including stock-based compensation expense in non-GAAP financial measures beginning in the first quarter of fiscal 2027. The company uses non-GAAP measures such as 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; reconciliations to GAAP measures were provided in the company's materials. NVIDIA’s outlook for the first quarter of fiscal 2027 was listed but specific figures were unclear in the provided context; for the full year fiscal 2027 the company expects GAAP and non-GAAP tax rates between 17. 0% and 19. 0%, excluding discrete items and material tax changes.

Executive vice president and chief financial officer Colette Kress prepared commentary on the quarter that is available on the company’s investor channels. NVIDIA will conduct a conference call with analysts and investors today at 2 p. m. Pacific time (5 p. m. Eastern time), with a listen-only live webcast available on the company’s investor relations site; the webcast will be recorded and available for replay until the next quarterly results conference call.

Investor scepticism about AI spending continues alongside bullish customer demand: Gene Munster wrote on the social platform X that "AI is accelerating faster than people not using these tools can grasp, " capturing one external view included in the available reporting. NVIDIA is now the world's most valuable publicly traded company, with a market value of around $4. 8 trillion in the provided context.

What happens next: the company will proceed with the scheduled 2 p. m. Pacific time (5 p. m. Eastern time) investor call and the April 1, 2026 dividend payment to shareholders of record on March 11, 2026.