NVIDIA's annual revenue rises 65.5% to $215.94 billion, with gaming up 41.3% to $16.04 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

NVIDIA filed its annual report on Form 10-K, the yearly financial report a US-listed company gives the SEC, on Feb 25, 2026. Revenue for the fiscal year that ended Jan 25, 2026 was $215.94 billion, up 65.5% from $130.5 billion a year earlier. Operating income, the profit from running the business before interest and tax, rose 60.1% to $130.39 billion from $81.45 billion. Net income, which includes the investment gains described below, was $120.07 billion, up 64.7% from $72.88 billion, and diluted earnings per share were $4.90 against $2.94.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

Gaming revenue for the year was $16.04 billion, up 41.3% from $11.35 billion. Management said the growth was driven by strong demand for its Blackwell architecture, and that it expected supply constraints to be a headwind to gaming in the first quarter of fiscal 2027 and beyond. NVIDIA's earnings release, filed with the SEC the same day, put fourth-quarter gaming revenue at $3.7 billion, up 47% from a year earlier and down 13% from the previous quarter, as inventory held in the sales channel moderated after strong holiday demand. The release lists DLSS 4.5, an AI-powered graphics technology, and G-SYNC Pulsar, a gaming display technology, among its gaming highlights. Data Center, the largest of NVIDIA's market platforms by revenue, brought in $193.74 billion for the year, up 68.2%.13^,14^,15^,16^,17^,18^,19^,20^,21^,22^,23

Gross margin, the share of revenue left after the cost of revenue, fell to 71.1% from 75.0%, which the company ties to a move from Hopper HGX systems to full-scale Blackwell data center solutions and to a $4.5 billion charge for excess H20 inventory and purchase obligations in the first quarter of fiscal 2026. The company said the charge was a result of the US government's notice in April 2025 that a license is required to export the H20 product to China. Other income, net, which mainly holds gains and losses on investments, was $9.02 billion against $1.03 billion a year earlier. Management said the change was driven mainly by unrealized gains on non-marketable and publicly held equity securities, including gains from its previously announced investment in Intel's common stock.24^,25^,26^,27^,28

NVIDIA repurchased 282 million of its shares for $40.4 billion in the fiscal year, and paid $974 million in dividends. It said it invested $17.5 billion in the year in private companies and infrastructure funds, including AI model makers that buy its products. When it filed, it also said it was finalizing an investment and partnership agreement with OpenAI, with no assurance that it would be completed.29^,30^,31^,32^,33

We hold only the management discussion of this filing, not its notes to the financial statements, and our records cannot show whether the year-earlier figures were restated.34^,35