Nvidia has delivered another blockbuster quarter, smashing records with Q4 FY26 revenue of $68.1 billion (up 73% YoY, 20% QoQ) and full‑year FY26 revenue of $215.9 billion (up 65% YoY), powered almost entirely by insatiable demand for its AI/data‑center chips.

Nvidia’s record Q4 & FY26 – Key Numbers

• Q4 FY26 (quarter ended Jan 25, 2026)

  • Revenue: $68.1 billion, up 73% YoY and 20% QoQ.
  • GAAP gross margin: 75.0%; non‑GAAP: 75.2%.
  • GAAP EPS (diluted): $1.76, up 98% YoY; non‑GAAP EPS: $1.62.
  • GAAP net income: ~$43 billion, up 94% YoY.
• Full Year FY26
  • Revenue: $215.9 billion, up 65% vs FY25.
  • GAAP gross margin: 71.1%; non‑GAAP: 71.3%.
  • GAAP EPS: $4.90, up 67%; non‑GAAP EPS: $4.77, up 60%.
  • GAAP net income: $120.1 billion, up 65%.

Segment performance – AI data center still the engine

• Data center

  • Q4 revenue: $62.3 billion, up 22% QoQ and 75% YoY.
  • FY26 revenue: $193.7 billion, up 68% YoY.
  • Driven by accelerated computing + generative AI, with hyperscalers (AWS, Azure, Google Cloud, Oracle) and large enterprises ramping GPU clusters.
• Gaming & AI PC
  • Q4 revenue: $3.7 billion, up 47% YoY, though down 13% QoQ after a strong holiday season.nvidianews.nvidia
  • FY26 revenue: $16.0 billion, up 41% YoY, helped by Blackwell‑based GPUs and early AI PC demand.
• Professional Visualization
  • Q4 revenue: $1.3 billion, up 74% QoQ and 159% YoY, on strong workstation/Blackwell demand.
  • FY26 revenue: $3.2 billion, up 70% YoY.
• Automotive & Robotics
  • Q4 revenue: $604 million, up 2% QoQ and 6% YoY.
  • FY26 revenue: $2.3 billion, up 39% YoY, as more OEMs adopt Nvidia’s self‑driving and robotics platforms.

Nvidia also unveiled the Rubin platform, with six new chips promising up to 10x lower inference token cost vs Blackwell, and expanded partnerships across AWS, Azure, Google Cloud, Oracle Cloud, Cadence, Siemens, Synopsys, and Indian manufacturers to drive AI compute adoption.

Strengths behind Nvidia’s blockbuster results

• Data‑center dominance: Massive lead in AI accelerators and systems with CUDA ecosystem lock‑in.

• Extraordinary growth: FY26 revenue up 65%, net income up 65%, EPS up 67% with 70%+ gross margins.
• Deep hyperscaler ties: AWS, Azure, Google Cloud, Oracle committing to next‑gen Rubin‑based instances.
• Full‑stack offering: Chips, systems (DGX, DGX Spark), software (CUDA‑X, Omniverse), and cloud services.
• Diversified AI exposure: Data center, AI PCs, Pro Viz, automotive and robotics all growing to record levels.
• Cash generation: Over $100B+ operating cash flow enables huge R&D, capex and shareholder returns.

Key risks for Nvidia after record earnings

• AI cycle dependence: Heavy reliance on continued AI capex from a handful of hyperscalers.

• Competition & in‑house chips: Rising threat from AMD, Intel and custom accelerators at big cloud providers.
• Regulation & export controls: US restrictions on China and other markets could slow demand.
• Valuation risk: Rich multiples leave little room for disappointment on growth or margins.
• Supply chain and fab constraints: Dependence on advanced nodes at foundries like TSMC.
• Platform shift risk: Future architectural or software shifts could weaken CUDA lock‑in over time.

FAQs

1. How much revenue did Nvidia report this quarter?
Nvidia reported Q4 FY26 revenue of $68.1 billion, up 73% from a year ago and 20% from the previous quarter, beating guidance by roughly $3 billion.

2. What drove Nvidia’s blockbuster performance?
The surge was led by its data‑center business, which delivered $62.3 billion in Q4 revenue (75% YoY growth) as cloud providers and enterprises ramped spending on GPUs for generative AI and accelerated computing.

3. How profitable is Nvidia right now?
Q4 GAAP gross margin was 75.0%, with GAAP EPS at $1.76 (up 98% YoY) and full‑year EPS at $4.90 (up 67% YoY), highlighting exceptional profitability.

4. What are the highlights of Nvidia’s full‑year FY26 performance?
For FY26, Nvidia delivered $215.9 billion in revenue (65% growth), $120.1 billion in net income (65% growth), GAAP gross margin 71.1%, and non‑GAAP EPS $4.77 (up 60%).

5. What is the Nvidia Rubin platform and why does it matter?
Rubin is Nvidia’s next‑gen AI platform comprising six new chips promising up to 10x reduction in inference token cost compared to Blackwell, with AWS, Google Cloud, Azure and Oracle among the first to deploy Rubin‑based instances—critical for staying ahead in AI efficiency.

6. How did gaming and professional visualization perform?
Gaming revenue was $3.7 billion in Q4 (up 47% YoY), while professional visualization hit $1.3 billion, up 74% QoQ and 159% YoY on strong demand for Blackwell‑based GPUs.

7. Is Nvidia in an AI bubble?
While some investors worry about an AI bubble, current results show sustained, broad‑based growth in data‑center AI demand with rising profits; however, valuations and dependence on AI capex keep the risk elevated if spending slows.

8. How did the stock react to these earnings?
Nvidia shares saw only marginal gains / limited upside post‑results as much of the AI optimism was already priced in, with after‑hours moves muted despite the beat.