Nvidia Stock Surges on Record $215.9bn Fiscal Revenue as Q4 Sales Jump 73% While AI Skepticism Persists
Latest financial results show nvidia stock reacting to a blockbuster fiscal report: full-year revenue of $215. 9 billion and fourth-quarter revenue of $68. 1 billion, with Q4 sales up 73% year-over-year. The scale of demand underscores the company's central role in AI infrastructure even as some investors question the durability of that spending.
Nvidia Stock: Quarterly and Fiscal Figures
NVIDIA reported fourth-quarter revenue of $68. 1 billion, a 20% increase from the prior quarter and a 73% increase from the same quarter a year earlier. For fiscal 2026, revenue totaled $215. 9 billion, up 65% from the prior year. These headline numbers mark a record year for the company and have become the focal point for market reactions.
Profitability Metrics and Earnings Per Share
Gross margins for the quarter were 75. 0% on a GAAP basis and 75. 2% on a non-GAAP basis. For fiscal 2026, GAAP gross margin was 71. 1% and non-GAAP gross margin was 71. 3%. GAAP earnings per diluted share for the quarter were $1. 76, with non-GAAP earnings per diluted share of $1. 62. For the full fiscal year, GAAP earnings per diluted share were $4. 90 and non-GAAP earnings per diluted share were $4. 77.
Shareholder Returns, Dividends and Capital Allocation
During fiscal 2026, the company returned $41. 1 billion to shareholders through share repurchases and cash dividends. At the end of the fourth quarter, $58. 5 billion remained available under the existing share repurchase authorization. The next quarterly cash dividend will be $0. 01 per share, payable on April 1, 2026, to shareholders of record on March 11, 2026.
Management Messaging and Product Leadership
Jensen Huang described computing demand as growing exponentially and framed the company’s role as central to an AI industrial buildout, stating that customers are racing to invest in AI compute. He named specific internal technologies when highlighting inference leadership, noting Grace Blackwell with NVLink as a leading solution for inference that delivers an order-of-magnitude lower cost per token, and said a product called Vera Rubin will extend that leadership further. Management also presented an open-source AI model for autonomous vehicles called "Alpamayo" at a recent technology trade show in Las Vegas, positioning the company to expand into physical products where AI is embedded.
Geopolitics, China Chips and Investor Scrutiny
The company sits at the center of a geopolitical tug-of-war over advanced AI chips. The U. S. government began allowing sales of the company’s H200 chips—described as the company’s second-most-advanced type—to Chinese customers under certain conditions. A U. S. Commerce Department official has told lawmakers that none of those chips have yet been sold to Chinese customers.
Investors have also scrutinized the company’s expanding network of partnerships and investments. Critics have raised concerns about potential "circular financing" in which the company’s investments in partners might obscure how strong AI demand truly is.
Market Positioning and External Commentary
The company is described as the world’s most valuable publicly traded company, with a stock market value of around $4. 8 trillion. It supplies sophisticated chips to leading AI model developers, including OpenAI and Meta. Industry observers such as Gene Munster, manager partner at Deepwater Asset Management, wrote on social media that the AI buildout is likely to continue for a long time and that AI adoption is accelerating faster than many realize.
Outlook, Accounting Changes and Investor Engagement
Beginning in the first quarter of fiscal 2027, the company will include stock-based compensation expense in its non-GAAP financial measures; the company described stock-based compensation as a foundational component of its compensation program. For the full year fiscal 2027, GAAP and non-GAAP tax rates are expected to be between 17. 0% and 19. 0%, excluding discrete items and material changes to the company’s tax environment.
The company will hold a conference call with analysts and investors today at 2 p. m. Pacific time (5 p. m. Eastern time). A live webcast will be accessible online in listen-only mode and will be recorded and available for replay until the company’s next quarterly call. Commentary from Colette Kress, the executive vice president and chief financial officer, is available for investors to review. The company continues to provide reconciliations between GAAP and non-GAAP measures, with adjustments for items such as stock-based compensation expense and acquisition-related costs reflected in reconciliations for recent fiscal years.
Why This Matters for nvidia stock
The combination of record revenue, high margins, sizable shareholder returns and expanded product ambitions positions the company at the center of AI infrastructure growth. At the same time, investor scrutiny of the company’s commercial relationships and unresolved questions about China chip sales leave some elements unclear in the provided context. Recent updates indicate robust demand trends, but details may continue to evolve.
