NVIDIA reports Q2 FY27 results, guides Q3 revenue to $108 billion

• Q2 FY27 revenue was $96.221 billion (up 106% YoY, 18% QoQ). Q3 FY27 revenue guidance is $108.0 billion (±2%), with gross margins expected at 74.0% (±50 bps).
• Data Center revenue was $89.023 billion (up 117% YoY, 18% QoQ), driven by the Blackwell Ultra ramp. Edge Computing revenue was $7.198 billion (up 27% YoY, 13% QoQ), driven by Blackwell workstation sales and partly offset by slower consumer PC sales.
• Inventory increased to $31.6 billion (from $25.8 billion in Q1) as NVIDIA prepares for Vera Rubin's Q3 introduction. Future commitments totaled $366 billion, including $279 billion for supply and capacity (up from $119 billion in Q1), primarily for memory procurement.
• Q3 revenue outlook assumes no Data Center compute revenue from China. DSO increased to 60 days (from 45 days in Q1) due to extended payment terms on large, multi-quarter agreements.

NVIDIA, SB Energy, and OpenAI partner to develop 8 GW AI data center campus in Ohio

• NVIDIA invested $1.5 billion in SB Energy and secured exclusive rights as the AI compute provider at the PORTS-Pike Technology Campus. NVIDIA is providing credit support for the initial 4.25 gigawatts of IT load, with aggregate payment obligations capped at $105 billion.
• OpenAI signed a 20-year lease to be the site tenant and will deploy NVIDIA's full-stack DSX AI factory platform. The project reuses the decommissioned Portsmouth Gaseous Diffusion Plant, with phases expected to begin coming online in 2028.
• The initial deployment is 4.25 gigawatts, with NVIDIA holding an option to secure the remaining 3.75 gigawatts, for 8 gigawatts total capacity. SB Energy and SoftBank plan to build at least 10 gigawatts of new energy generation and invest at least $4.2 billion in regional grid infrastructure.
• NVIDIA provided residual value guaranties on the lease, which OpenAI has agreed to reimburse and indemnify. NVIDIA’s obligations terminate on the 20th anniversary of the lease or earlier if OpenAI achieves a satisfactory credit rating.

Nvidia names Microsoft executive Nicholas Parker EVP of Worldwide Field Operations

• Nicholas Parker succeeds Ajay Puri, who is retiring after 21 years and will transition to a senior advisory role in August 2026.
• Parker joins from Microsoft, where he most recently served as EVP and Chief Business Officer of the Worldwide Sales & Solutions organization.
• Parker’s compensation package includes a $1 million base salary, a $5 million sign-on bonus, and $40 million in target equity awards.

NVIDIA stockholders approve transition to simple majority voting and re-elect directors

• Shareholders approved a non-binding proposal to replace supermajority voting requirements in the company charter and bylaws with a simple majority voting standard.
• Stockholders rejected three separate proposals requesting reports on greenhouse gas emissions, faith-based community resource groups, and civil rights and non-discrimination related to diversity, equity, and inclusion.
• The board’s ten director nominees were re-elected to serve until the 2027 annual meeting, and executive compensation was approved in an advisory vote.
• PricewaterhouseCoopers was ratified as the independent registered accounting firm for the fiscal year ending January 31, 2027.

NVIDIA completes $25 billion senior notes offering across seven tranches

• The offering includes notes with interest rates ranging from 4.250% to 5.625% and maturities extending from 2028 through 2056.
• Individual tranche sizes range from $3 billion to $4 billion, with $11 billion in total principal maturing by 2031.
• Interest is payable semi-annually on June 15 and December 15, with the first payment scheduled for December 15, 2026.
• NVIDIA may redeem the notes early via make-whole provisions, but the notes do not have mandatory redemption requirements or sinking funds.

Nvidia reports record Q1 results, guides to $91B for Q2, and authorizes $80B buyback

• Revenue grew 85% year-over-year to $81.6 billion, while non-GAAP EPS increased 140% to $1.87.
• Data Center revenue rose 92% to $75.2 billion, led by Blackwell 300 product ramps; the company reported $119 billion in total supply-related commitments to meet future demand.
• Data Center compute revenue from China fell to zero from $4.6 billion in the prior-year quarter, and Nvidia expects zero China revenue in Q2.
• The board authorized an additional $80 billion for share repurchases and increased the quarterly dividend from $0.01 to $0.25 per share.

NVIDIA expands Board to 11 members with appointment of Suzanne Nora Johnson

• Suzanne Nora Johnson will join the Board and the Audit Committee effective July 13, 2026.
• The number of directors on NVIDIA's Board will increase from ten to eleven upon Johnson’s start date.
• Compensation includes an initial $255,000 restricted stock unit grant vesting over three years and an $85,000 annual cash retainer.
• Johnson will also receive a pro-rated annual equity grant with an annualized target value of $255,000.

NVIDIA names Scott Gawel Chief Accounting Officer to succeed retiring Donald Robertson

• Scott Gawel will join NVIDIA as VP and Chief Accounting Officer on May 4, 2026. Gawel joins from Intel, where he served as Chief Accounting Officer since 2022, and previously held senior leadership roles at Oracle for 18 years.
• Gawel will receive an $800,000 annual base salary and $12.875 million in restricted stock units vesting over four years.
• Donald Robertson will retire as Chief Accounting Officer on May 4, 2026, but will remain with NVIDIA as VP of Finance until July 1, 2026, to support the transition.

NVIDIA adopts FY2027 variable compensation plan tied to revenue goals

• The plan bases executive cash payments on the achievement of specified fiscal year 2027 revenue goals.
• CEO Jen-Hsun Huang has a target award opportunity of $4,000,000, representing 200% of his base salary.
• CFO Colette M. Kress and other executive VPs have target award opportunities of $1,500,000 each, representing 150% of their base salaries.
• Payouts range from 50% of the target award for meeting threshold revenue goals to a maximum of 200% (2x) for meeting or exceeding stretch goals.

NVIDIA reports record Q4 and full-year FY26 results, issues strong Q1 FY27 outlook

• Data Center revenue was the primary growth driver, increasing 75% year-over-year to $62.3 billion in Q4, driven by accelerated computing, AI, and hyperscalers. Data Center Networking revenue also surged 263% year-over-year in Q4 due to NVLink and platform growth.
• NVIDIA expects Q1 FY27 revenue of $78.0 billion and a non-GAAP gross margin of 75.0%. This outlook assumes no Data Center compute revenue from China.
• The company unveiled the Rubin platform, designed to reduce inference token cost by 10x compared to Blackwell, with major cloud providers planning deployments.
• NVIDIA announced a multiyear strategic partnership with Meta for large-scale deployments of its CPUs, networking, and Blackwell and Rubin GPUs, and returned $41.1 billion to shareholders in FY26.

<p>NVIDIA board member Persis Drell resigns</p>

<ul> <li>Persis Drell resigned from NVIDIA's Board of Directors on January 20, 2026.</li> <li>Her resignation was to pursue a new professional opportunity.</li> <li>Dr. Drell's resignation was not due to any disagreement with NVIDIA regarding its operations, policies, or practices.</li> </ul>

NVIDIA reports record Q3 FY26 revenue driven by Data Center, forecasts $65 billion for Q4

• Total revenue reached a record $57.0 billion in Q3 FY26, up 62% year-over-year, with Data Center revenue hitting a record $51.2 billion, up 66% year-over-year.
• Data Center growth was fueled by accelerated computing, powerful AI models, and the introduction of NVLink for GB200 and GB300 systems, with CEO Jensen Huang noting "Blackwell sales are off the charts, and cloud GPUs are sold out."
• For Q4 FY26, NVIDIA projects revenue of $65.0 billion, plus or minus 2%, and a non-GAAP gross margin of 75.0%.
• The company returned $12.7 billion to shareholders in Q3 through share repurchases and cash dividends, while inventory increased to $19.8 billion to secure components for Blackwell and future architectures.

<p>NVIDIA reports strong Q2 FY26 results driven by Data Center and Blackwell demand, raises Q3 revenue guidance to $54 billion</p>

<ul> <li>Revenue grew 56% year-over-year to $46.7 billion in Q2 FY26, with non-GAAP diluted earnings per share up 54% year-over-year to $1.05.</li> <li>Data Center revenue increased 56% year-over-year to $41.1 billion, driven by demand for AI applications and a 17% sequential growth in Blackwell Data Center revenue. Networking revenue within Data Center also surged 98% year-over-year to $7.3 billion.</li> <li>NVIDIA projects Q3 FY26 revenue of $54.0 billion, plus or minus 2%, assuming no H20 shipments to China, and expects non-GAAP gross margins of 73.5%.</li> <li>The Board approved an additional $60.0 billion share repurchase authorization, following $10.0 billion returned to shareholders in Q2 FY26.</li> </ul>

<p>Ellen Ochoa resigns from NVIDIA's Board of Directors</p>

NVIDIA shareholders reject proposal to remove supermajority provisions and other governance changes

• Stockholders did not approve a non-binding proposal to eliminate the holding period requirement for calling a special stockholder meeting.
• Stockholders also did not approve non-binding proposals for a new director election resignation governance policy or modifying workforce data reporting.
• All thirteen director nominees were re-elected.
• Executive compensation was approved on an advisory basis, and PricewaterhouseCoopers LLP was ratified as the independent auditor.

NVIDIA reports strong Q1 FY26 revenue growth, but faces a $4.5 billion charge and $8.0 billion revenue loss from China export controls on H20 products.

• Q1 FY26 revenue grew 69% year-over-year to $44.1 billion, driven by a 73% increase in Data Center revenue to $39.1 billion and record Gaming revenue of $3.8 billion.
• The $4.5 billion charge for H20 excess inventory and purchase obligations reduced non-GAAP gross margin to 61.0% (from an estimated 71.3%) and non-GAAP diluted EPS to $0.81 (from $0.96).
• NVIDIA expects Q2 FY26 revenue of $45.0 billion, which includes an estimated $8.0 billion loss in H20 revenue due to export limitations, and anticipates non-GAAP gross margins of 72.0%.
• Demand for NVIDIA's AI infrastructure remains strong, with the Blackwell NVL72 AI supercomputer now in full production and plans to build AI factories in the U.S. and new AI supercomputers globally.

NVIDIA faces new US export restrictions on H20 chips to China, anticipating up to $5.5 billion in Q1 FY26 charges

• The US government now requires a license for exporting H20 integrated circuits to China (including Hong Kong and Macau) and D:5 countries, a requirement that is effective indefinitely.
• This license requirement also applies to companies headquartered or with an ultimate parent in these regions, and to any other circuits with similar memory or interconnect bandwidth as the H20.
• The US government stated that these restrictions address the risk of the covered products being used in or diverted to supercomputers in China.
• NVIDIA expects to record up to $5.5 billion in charges during its first quarter of fiscal year 2026 (ending April 27, 2025) for H20 product inventory, purchase commitments, and related reserves.

NVIDIA adopts FY26 variable cash incentive plan tied to revenue goals

• The plan incentivizes executive officers based on NVIDIA's fiscal year 2026 revenue performance, with target goals set at threshold, base, and stretch levels.
• Executives can earn up to two times their target award for achieving or exceeding stretch revenue goals; no payment is made if revenue falls below the threshold.
• For example, CEO Jen-Hsun Huang has a target award opportunity of $3 million, and CFO Colette Kress's target is $300,000 for base compensation plan achievement.
• The Compensation Committee retains discretion to adjust reported revenue, such as to exclude impacts from mergers or acquisitions.

NVIDIA reports record Q4 and full-year FY25 results, driven by Data Center, and forecasts strong Q1 FY26 revenue

• Data Center revenue soared to a record $35.6 billion in Q4 FY25, up 93% year-over-year, and $115.2 billion for the full year, up 142%, primarily from demand for AI supercomputers and accelerated computing platforms.
• CEO Jensen Huang highlighted "amazing" demand for Blackwell AI supercomputers, which generated $11.0 billion in Q4 FY25 sales, largely from large cloud service providers.
• NVIDIA expects Q1 FY26 revenue to reach $43.0 billion, plus or minus 2%, with a non-GAAP gross margin of 71.0%.
• Full-year FY25 cash flow from operating activities was $64.1 billion, contributing to $43.2 billion in cash and equivalents.

New U.S. export controls will impose worldwide licensing requirements on certain NVIDIA AI products, starting May 15, 2025

• The "Export Control Framework for Artificial Intelligence Diffusion" rule targets products classified under specific Export Control Classification Numbers (ECCNs), including NVIDIA DGX, HGX, and MGX systems.
• Affected NVIDIA products include A100, A800, H100, H200, H800, B100, B200, GB200, L4, L40S, and RTX 6000 Ada, as well as future products meeting certain performance thresholds.
• NVIDIA plans to provide feedback during the public comment period, which ends May 15, 2025, when compliance with the new licensing requirements begins.
• A separate rule requiring additional due diligence for advanced computing integrated circuits is not expected to impact NVIDIA's operations or sales to China, as NVIDIA is an approved IC designer.