Front page
Nothing from your lists
What covered companies filed with the SEC, day by day.
Nothing from your lists
+ 198 more
Nothing from your lists
Nothing from your lists
Nothing from your lists
Nothing from your lists
Nothing from your lists
Revenue for fiscal year 2026 was $215.9 billion, up 65% from a year ago.¶1
Data Center revenue increased 68%, Gaming revenue increased 41%, Professional Visualization revenue increased 70%, and Automotive revenue increased 39% from a year ago.¶2¶3¶4¶5
NVIDIA incurred a $4.5 billion H20 charge in the first quarter of fiscal year 2026, generated approximately $60 million in H20 revenue under August licenses, and had generated no H200 revenue under the February licensing program.¶6¶7
Gross margin decreased to 71.1% from 75.0%, NVIDIA repurchased 282 million shares for $40.4 billion, and paid shareholders $974 million in cash dividends during fiscal year 2026.
What changed since last yearRisk factors: 557 sentences against 536 last year · 137 new · 116 gone
new“On September 15, 2025, China’s antitrust regulators published their preliminary finding that our compliance with applicable U.S. export controls, which required us to offer degraded products to the Chinese market, discriminated unfairly against customers in the China market and therefore violated the terms of China’s approval of our Mellanox acquisition.”¶11
new“The Chinese government has encouraged customers to purchase from our China-based competitors and discouraged customers from purchasing, importing, or using our data center products, including any China-specific product designed to comply with U.S. export controls.”¶12
revised“In August 2022, the USG announced export restrictions and export licensing requirements targeting China’s semiconductor and supercomputing industries.”¶13
was“During the third quarter of fiscal year 2023, the USG announced export restrictions and export licensing requirements targeting China’s semiconductor and supercomputing industries.”¶14
revised“We may continue to invest in companies to further our strategic objectives and to support certain key business initiatives, which could be subject to delays and challenges in obtaining regulatory approvals.”
was“In addition, we have invested and may continue to invest in private companies to further our strategic objectives and to support certain key business initiatives.”¶16
We generated net earnings of $17.18 billion for 2025, compared with $14.28 billion for 2024.¶1
Net revenues were $58.28 billion for 2025, 9% higher than 2024, while operating expenses were $37.54 billion, 11% higher than 2024.¶2¶3
During 2025, we returned $16.78 billion of capital to common shareholders, including $12.36 billion of common share repurchases and $4.42 billion of common stock dividends.¶4
What changed since last yearRisk factors: 579 sentences against 593 last year · 100 new · 113 gone
new“Unfavorable or uncertain economic and market conditions can be caused by: low levels of or declines in economic growth, business activity or investor, business or consumer confidence; concerns over a potential recession; changes in consumer spending or borrowing patterns; pandemics; limitations on the availability or increases in the cost of credit and capital; illiquid markets; increases in inflation or interest rates; exchange rate or basic commodity price volatility; increasing or high default rates; high levels of inflation or stagflation; concerns about U.S. and other sovereign defaults; uncertainty concerning fiscal or monetary policy, government shutdowns, debt ceilings or funding; the extent of and uncertainty about potential changes in tax rates and regulatory changes; limitations on international trade and travel; changes in immigration policies; laws and regulations that limit trading in, or the issuance of, securities of issuers outside their domestic markets; political instability or violence; outbreaks or worsening of domestic or international tensions or hostilities, terrorism, nuclear proliferation, cybersecurity threats or attacks and other forms of disruption to or curtailment of global communication, energy transmission or transportation networks or other geopolitical instability or uncertainty; corporate, political or other scandals that reduce investor confidence in capital markets; extreme weather events or other natural disasters; or a combination of these or other factors.”¶5
new“Our revenues and profitability and those of our competitors have been and will continue to be impacted by requirements relating to capital, leverage, liquidity and long-term funding levels, requirements related to recovery and resolution planning, derivatives clearing and margin rules and levels of regulatory oversight, as well as limitations on which and, if permitted, how certain business activities may be carried out by financial institutions.”¶6
revised“Any of these risks could expose us to liability or adverse legal or regulatory consequences and harm our reputation and the public perception of our business or the effectiveness of our security measures, and, as we expand the development and incorporation of AI technologies in our business processes, services or products, including in connection with our OneGS 3.0 initiative, these risks may be heightened.”¶7
was“Any of these risks could expose us to liability or adverse legal or regulatory consequences and harm our reputation and the public perception of our business or the effectiveness of our security measures.”¶8
revised“Generative AI, if used to perpetrate fraud or launch cyber attacks, could result in losses, liquidity outflows or other adverse effects for us and our clients.”¶9
was“Generative AI, if used to perpetrate fraud or launch cyberattacks, could result in losses, liquidity outflows or other adverse effects at a particular financial institution or exchange.”¶10
