Nvidia Stock nvidia stock: Chip giant posts record $215.9bn revenue as shares wobble
Nvidia has reported record fiscal revenue of $215. 9 billion and strong fourth-quarter sales, and nvidia stock reactions have been mixed as investors weigh geopolitical and demand questions. fourth-quarter revenue, for the period ended January 25, 2026, was $68. 1 billion, a 20% increase from the prior quarter and a 73% jump from a year earlier.
Nvidia Stock and outlook
fiscal 2026 revenue was $215. 9 billion, up 65% from a year ago, and noted it is the world's most valuable publicly traded company with a stock market value of around $4. 8 trillion. The annual revenue figure was also presented as £159. 1 billion. Nvidia's outlook released on Wednesday did not include expectations about chip revenue in China.
AI compute demand rise
Chief executive Jensen Huang reiterated the company's core message in two separate statements. He said, "Computing demand is growing exponentially, " and added, "Our customers are racing to invest in AI compute - the factories powering the AI industrial revolution and their future growth. " In a longer statement 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 continued, "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. "
Quarterly and fiscal results
For the quarter ended January 25, 2026, 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. GAAP and non-GAAP earnings per diluted share for the quarter 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. 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 fr
Share buybacks and dividends
During fiscal 2026, Nvidia returned $41. 1 billion to shareholders through share repurchases and cash dividends. At 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. Beginning in the first quarter of fiscal 2027, Nvidia will include stock-based compensation expense in non-GAAP financial measures, noting that stock-based compensation is a foundational component of the company's compensation program to attract and retain world-class talent. For 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.
Geopolitics, chips and China
The company has been drawn into a geopolitical tug-of-war between the US and China. Last month the Trump administration began allowing Nvidia to sell its H200 chips — described as Nvidia's second-most advanced type — to Chinese customers under certain conditions. However, this week a US Commerce Department official told lawmakers that none of those chips have yet been sold to Chinese customers. The company's outlook did not include expectations about chip revenue in China.
Investors have also been scrutinising Nvidia's broadening web of deals with other companies. 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. Gene Munster, manager partner at Deepwater Asset Management, wrote on the social media platform X on Wednesday that "AI is accelerating faster than people not using these tools can grasp. "
Nvidia said it beat analysts' forecasts as sales for the last three months of its financial year jumped by 73% compared to 12 months earlier. The company has also been expanding its product line to participate more in physical products that embed AI. Last month at the CES technology trade show in Las Vegas, Jensen Huang unveiled a new technology platform for self-driving cars and said the open-source AI model the company is calling "Alpamayo" will bring reasoning to autonomous vehicles.
The company 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 in listen-only mode will be accessible on the company's investor relations website; the webcast will be recorded and available for replay until the company's conference call to discuss its first quarter of fiscal 2027. CFO commentary on the quarter by Colette Kress, the company's executive vice president and chief financial officer, is available.
A separate item titled "Client Challenge" appears in the provided material; unclear in the provided context.
Market reactions to these results left nvidia stock mixed as investors weighed the scale of AI investment, the company's expanding product ambitions and the unresolved questions over China sales and financing arrangements.
Closing out its results, the company reiterated strong demand signals while laying out financial mechanics including buybacks, dividends, and a change to non-GAAP reporting beginning in fiscal 2027.
