Companies/Technology/Semiconductors

NVIDIA

NVDA · NasdaqEarnings Nov 18 (est.)Santa Clara, California↗42.0K employees↗Website ↗
214.77▲ 0.30%Pooled price · full market data →

What matters nowUpdated 21 h ago

  • Product cadence: on October 12 NVIDIA contributed its Vera Rubin rack and compute tray designs to the Open Compute Project and joined AMD, Google and Meta in publishing Open Data Center Specification v0.7. With Cisco it announced USFP, a 400 Gb/s-per-lane optical module. Bull plans to extend European server production to Vera Rubin Ultra NVL72 systems for 2028. Vera Rubin production shipments are expected from fall 2026.
  • Demand signals: SpaceX is seeking about $40 billion of financing, roughly $10 billion of bank loans and $30 billion of investment-grade debt led by Apollo, to buy Nvidia AI chips (Reuters, citing the FT). On October 8, AI infrastructure names including Nvidia, CoreWeave and Oracle fell after OpenAI told investors its annualized revenue was about $50 billion, below the roughly $68-70 billion figure that had circulated.
  • PCs: NVIDIA and Microsoft opened RTX Spark laptop preorders on October 7, with sales starting October 16 and compact desktops in November; DGX Station for Windows was previewed. NVIDIA also committed $1 billion over five years to US science and quantum research.
  • Next: Jensen Huang's GTC Berlin keynote on October 21 at 11 a.m. CEST (event runs October 20-22), Q3 FY2027 earnings estimated around November 18 (not confirmed), Q4 FY2027 earnings estimated around February 24, 2027, and GTC 2027 in San Jose on March 15, 2027. Watch AI customer financing, OpenAI revenue disclosures and Vera Rubin ramp timing.

NVIDIA designs the GPUs, networking chips, systems and software that power AI data centers, along with GeForce gaming GPUs, professional visualization workstations, and automotive and robotics platforms. Its data center business sells accelerated computing and networking to hyperscalers, AI clouds, enterprises and governments, and it is building AI factory reference designs for sovereign customers. Fiscal 2026 (ended January 25, 2026) revenue was $215.9 billion. From fiscal 2027 it reports two platforms, Data Center and Edge Computing.↗ source

How it makes money

NVIDIA sells accelerated computing platforms (GPUs, CPUs, networking, complete rack-scale systems) mainly to cloud providers, AI model builders and enterprises, and increasingly finances or co-invests in its customers' AI infrastructure. Gaming, professional visualization and automotive GPUs and modules add smaller, steadier revenue. Its CUDA and AI software stack keeps customers on its hardware. Quarterly results are driven by data center shipments, guided one quarter ahead.

Last 12 monthsChart & venues →

166.29201.93237.57Nasdaq falls 2.1% for its worst week since June as chip stocks slide on AI financing worries1Oracle falls about 5% as FT reports OpenAI annualized revenue near $50 billion2SpaceX seeks about $40 billion of debt, led by Apollo, to fund Nvidia chip purchases3Report says OpenAI moved Ultrafast workload to Nvidia; Cerebras down about 19.5% that week4NVIDIA adds $150 billion to buyback authorization, the largest increase in its history5NVIDIA agrees to acquire Hugging Face for $12.93B and pledges an open platform6Dec 31Mar 14May 25Aug 5Oct 16
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Valuation & fundamentalsFull financials →

Market cap$5.18Tpooled price × shares
Enterprise value$5.19T+ net debt $10.92B
P/E (TTM)27.2×EPS $7.91
EV / EBITDA25.8×EBITDA $201.27B
P / Sales17.1×EV/Sales 17.1×
P / Book22.6×equity $228.98B
FCF yield2.5%FCF $127.01B
Shareholder yield1.2%div 0.13% · buyback 1.1%
Revenue (TTM)$302.97B83.4% YoY
Last quarter revenue105.9%growth YoY
EPS growth (TTM)124.7%last Q 127.8%
Gross margin74.7%operating 65.2%
Net margin63.7%EBITDA 66.4%
ROE117.2%on average equity
Cash$22.44Bdebt $33.37B
Shares out24.10Bdiluted 24.29B

TTM through 2026-07-26 from SEC filings↗ (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →

Biggest businessesAll products & projects →

scalingproduct line

Data Center compute (Blackwell, Hopper)

Main revenue driver. Q2 FY2027 Data Center revenue was $89.0 billion, up 117% year over year. Vera Rubin is ramping; Q3 FY2027 total revenue is guided to $108.0 billion, plus or minus 2%.

Data Center revenue · Q2 FY2027 (quarter ended Jul 26, 2026)
$89.0 billion +117% YoY, +18% QoQ
Data Center compute revenue · Q1 FY2027 (quarter ended Apr 26, 2026)
$60.4 billion +77% YoY, +18% QoQ
China Data Center compute revenue (Hopper H20) · Q2 FY2027 outlook
$0; Q3 FY2027 outlook assumes none vs $4.6 billion in Q1 FY2026
scalingproduct line

Data center networking (InfiniBand, Spectrum-X)

Networking is the fastest-growing data center line: $14.8 billion in Q1 FY2027, up 199% year over year. NVIDIA does not split out Q2 networking in its release.

Data Center networking revenue · Q1 FY2027 (quarter ended Apr 26, 2026)
$14.8 billion +199% YoY, +35% QoQ
Data Center networking revenue growth · FY2026
+142%
Spectrum-X Ethernet Photonics (co-packaged optics) · May 31, 2026 release
In production; NVIDIA claims 5x better power efficiency than pluggable transceivers (vendor claim)
launchedproduct line

Gaming (GeForce)

Gaming is no longer reported as its own line from Q1 FY2027; it sits in Edge Computing. Last reported: $3.7 billion in Q4 FY2026, up 47% year over year.

Gaming revenue (last separately reported) · Q4 FY2026 (quarter ended Jan 25, 2026)
$3.7 billion +47% YoY, -13% QoQ
Gaming revenue growth · FY2026
+41%
launchedproduct line

Professional visualization (RTX workstations)

Workstation GPUs for design, simulation and AI development. Revenue more than doubled year over year in Q4 FY2026, and it is no longer reported separately from Q1 FY2027.

Professional Visualization revenue (last separately reported) · Q4 FY2026 (quarter ended Jan 25, 2026)
$1.3 billion +159% YoY, +74% QoQ
Professional Visualization revenue growth · FY2026
+70%

Latest newsAll news →

Nasdaq falls 2.1% for its worst week since June as chip stocks slide on AI financing worries

US stocks fell on Friday as the tech sell-off extended: the Nasdaq closed down 2.1% at 26,140.03 for its first weekly loss in five weeks and worst since June, and the S&P 500 lost 1.1%.

News

NVIDIA opens GTC Berlin coverage; Jensen Huang keynote set for October 21

NVIDIA's GTC Berlin page, posted October 12, says the event runs October 20 to 22 and that Jensen Huang gives the keynote on October 21 at 11 a.m.

News

NVIDIA and Cisco announce USFP 400G-per-lane pluggable optics for AI factories

NVIDIA and Cisco announced plans for USFP, a high-density 400 Gb/s-per-lane optical module timed to the OCP Global Summit.

Product

NVIDIA opens Vera Rubin rack designs to OCP and joins Open Data Center Specification v0.7

At the OCP Global Summit NVIDIA contributed its Vera Rubin rack and compute tray designs through the open MGX architecture and released four open-source DSX AI Factory components.

Product

Loft Orbital's Altair-1 reaches orbit with NVIDIA Jetson AGX Orin modules

NVIDIA's October 12 France post says Altair-1, the first satellite in a $1 billion, 50-satellite constellation run by Loft Orbital and Orbitworks, has reached orbit.

Deal

Oracle falls about 5% as FT reports OpenAI annualized revenue near $50 billion

The Financial Times reported that OpenAI told investors its annualized revenue was close to $50 billion at the end of September, well below the roughly $70 billion figure reported in late September.

News