NVIDIA Corporation
NVIDIA Corp. designs accelerated computing platforms built around GPUs, networking silicon, and software for data centers, PCs, workstations, automotive systems, robotics, and digital twins. The company is headquartered in Santa Clara, California and operates through two reportable segments: Compute & Networking and Graphics.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueGPU-accelerated systems, AI software, and cloud-scale compute for training and inference.
High-speed interconnects and Ethernet platforms used to link AI servers and clusters.
GeForce GPUs and related software for gaming PCs and consumer graphics workloads.
RTX/Quadro GPUs, vGPU software, and workstation solutions for creators and enterprises.
Automotive compute platforms, infotainment, autonomous driving, and Jetson modules.
Products
Reported · share of revenue- Compute75.2 %
- Networking14.5 %
- Gaming7.4 %
- Professional Visualization1.5 %
- Automotive1.1 %
- OEM and Other0.3 %
Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
NVIDIA sells directly to add-in board manufacturers, distributors, ODMs, OEMs, CSPs, hyperscale companies, and system integrators, while indirect demand comes through those channels. Its end markets include cloud and AI infrastructure buyers, gamers, creators, enterprises, public sector entities, and automotive customers that use NVIDIA hardware and software to run compute-intensive workloads.
Buy data center GPUs, networking, and systems for AI training and inference at scale.
Purchase NVIDIA products directly and assemble or resell complete systems into end markets.
Buy GeForce GPUs and related software for gaming and local AI workloads.
Use workstation, vGPU, and data center products for on-premises AI and visualization.
Buy compute platforms for infotainment, autonomous driving, and embedded robotics.
Strategy
NVIDIA’s strategy centers on expanding accelerated computing across AI data centers, networking, gaming, professional visualization, automotive, robotics, and digital twins. The company pairs hardware with CUDA, software libraries, SDKs, and cloud services to deepen ecosystem lock-in and make its platforms the default choice for compute-intensive workloads.
Data center compute is the core growth engine and anchors the ecosystem.
Networking is required to scale GPU clusters and improves platform completeness.
Software and cloud offerings increase stickiness and extend the addressable market.
Automotive, robotics, and digital twins diversify demand beyond PCs and data centers.
Geography
NVIDIA is headquartered in the United States, and its revenue is globally diversified across domestic and international customers. The filings disclose that customers outside the United States accounted for 53% of revenue in fiscal 2025 and 48% in fiscal 2024, while the first quarter of fiscal 2026 showed 53% outside the United States; geography matters because billing location and customer headquarters can differ from end demand.
Risks
NVIDIA faces concentration risk because a limited number of direct and indirect customers can represent a large share of revenue, and purchase orders can be changed or canceled with little notice. The business is also exposed to rapid technology shifts, supply-chain constraints, export controls, product defects, and intense competition in AI, gaming, and networking markets.
- Supply-chain and manufacturing dependencyImpact: HighLikelihood: High
The company relies on third-party suppliers for fabrication, assembly, testing, and packaging.
Exposure: Semiconductor production and delivery schedules
- Technology obsolescence and competitionImpact: HighLikelihood: High
Accelerated computing markets evolve quickly and competitors can narrow performance gaps.
Exposure - Export controls and regulatory restrictionsImpact: HighLikelihood: High
International sales are significant and subject to AI, trade, and product regulations.
Exposure: China and other cross-border markets
- Customer concentrationImpact: HighLikelihood: Medium
A few direct and indirect customers can account for a large share of revenue.
Exposure: Compute & Networking segment
- Inventory and purchase commitment write-downsImpact: MediumLikelihood: High
Demand forecasting errors can create excess inventory and purchase obligations.
Exposure: New product ramps and architecture transitions
Accounting
Judgemental itemsRevenue is routed through distributors, OEMs, and system integrators, so timing and attribution require judgment.
Impact: Can shift reported revenue between periods and affect geographic presentation
The company writes down inventory to net realizable value and reserves for excess commitments when demand assumptions change.
Impact: Directly affects cost of revenue and gross margin
Large architecture transitions and supply timing can create sharp quarter-to-quarter swings.
Impact: Affects comparability of revenue, margins, and operating expenses
Global operations and changing jurisdictional mix require judgment in tax accruals and effective tax rates.
Impact: Can materially affect net income
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Last updated: 24/09/2026