NVIDIA Corporation (NASDAQ: NVDA) reported a fiscal year for the history books on 25th February 2026, posting full-year revenue of USD 215.9 billion, a 65% jump from the previous year. If those numbers feel abstract, consider this: a year ago, analysts were debating whether the AI boom was real. Now, the debate is over.
The fourth quarter alone generated USD 68.1 billion in revenue, up 73% year-on-year and 20% from the prior quarter. Every single one of those figures came in as a new record.
Q4 By the Numbers
For the quarter ended 25th January 2026, NVIDIA reported record quarterly Data Center revenue of USD 62.3 billion, up 22% from Q3 and up 75% from a year ago. Full-year Data Center revenue reached a record USD 193.7 billion.
NVIDIA Data Center revenue reached a record USD 62.3 billion in Q4 FY2026, up 75% year-on-year.
The Data Center division now makes up roughly 91% of total company revenue, cementing NVIDIA’s role as the core infrastructure layer of global AI. Earnings per diluted share came in at USD 1.76 on a GAAP basis for the quarter.
Key Q4 metrics at a glance:
- Quarterly revenue: USD 68.1 billion (up 73% year-on-year)
- Data Center revenue: USD 62.3 billion
- GAAP gross margin: 75.0%
- Net income: USD 42.96 billion
- Diluted EPS (GAAP): USD 1.76
Full-Year Fiscal 2026 Performance
The full fiscal year picture is just as striking. For fiscal 2026, GAAP net income reached USD 120.1 billion, up 65% from USD 72.9 billion in fiscal 2025. Full-year diluted earnings per share on a GAAP basis were USD 4.90, versus USD 2.94 the year prior.
Free cash flow for the year totalled USD 96.6 billion. NVIDIA also returned USD 41.1 billion to shareholders through buybacks and dividends during fiscal 2026, with USD 58.5 billion still remaining under its share repurchase authorisation.
Jensen Huang’s Take: “The Agentic AI Inflection Point Has Arrived”
NVIDIA founder and CEO Jensen Huang described the current moment plainly: “Computing demand is growing exponentially, the agentic AI inflection point has arrived. Grace Blackwell with NVLink is the king of inference today, delivering an order-of-magnitude lower cost per token, and Vera Rubin will extend that leadership even further.”
The Blackwell architecture, which drove much of fiscal 2026’s growth, is now being succeeded by Vera Rubin, which NVIDIA says will deliver up to a 10x reduction in inference token costs compared to Blackwell. The next generation of enterprise customers isn’t just using AI to run experiments anymore. They are building AI into production systems at scale.
NVIDIA CEO Jensen Huang says enterprise AI agent adoption is skyrocketing as the company posts record fiscal year revenue. [NVIDIA Newsroom]
Gaming Makes a Comeback
Away from the data centre, Gaming revenue reached USD 3.7 billion in Q4, up 47% from a year ago, driven by strong Blackwell demand. Full-year Gaming revenue rose 41% to a record USD 16.0 billion.
The Gaming business, which once defined NVIDIA, now plays a supporting role behind the data centre giant. Still, 47% year-on-year growth is anything but quiet, with DLSS 4.5 and the G-SYNC Pulsar platform drawing fresh attention from the consumer market.
Professional Visualisation Surges
Professional Visualisation revenue for Q4 was USD 1.3 billion, up 159% from a year ago, driven by exceptional demand for Blackwell. Full-year revenue rose 70% to a record USD 3.2 billion.
The launch of the NVIDIA RTX PRO 5000 72GB Blackwell GPU, designed to support larger AI models and agentic workflows, contributed to the surge.
Outlook: USD 78 Billion Forecast for Q1 FY2027
The guidance is where things get interesting. NVIDIA’s outlook for the first quarter of fiscal 2027 calls for revenue of USD 78.0 billion, plus or minus 2%. The company has noted it is not assuming any Data Center compute revenue from China in this forecast.
That China caveat carries weight. Export restrictions have already curtailed access to one of the world’s largest AI markets. Despite this, NVIDIA’s guidance beats Wall Street’s prior expectations, with gross margins projected to hold around 74.9% to 75.0%.
Key Partnerships and Platform Moves
The past quarter saw NVIDIA deepen its position across the AI ecosystem:
- A multiyear partnership with Meta covering millions of Blackwell and Rubin GPUs
- An expanded deal with AWS covering interconnect, cloud infrastructure, and physical AI
- A co-innovation AI lab with pharmaceutical firm Lilly to advance drug discovery
- A non-exclusive licensing agreement with Groq to accelerate AI inference
- A deeper collaboration with CoreWeave to build over 5 gigawatts of AI factories by 2030
These moves reflect a company that is not merely selling chips but embedding itself into the long-term infrastructure of the global AI economy.
What This Means for Investors Watching AI Stocks
This NVIDIA earnings report follows a pattern Colitco has tracked across multiple quarters of AI-driven outperformance. What’s different this time is the scale. USD 215.9 billion in annual revenue represents a company that has, in effect, become an infrastructure utility for the AI industry.
For context, NVIDIA’s fiscal 2024 revenue was USD 60.9 billion. Its fiscal 2026 figure is more than three times that. The rate of growth is normalising, but the base has moved so dramatically that even modest percentage gains now translate into enormous dollar volumes.
Those following AI and big tech stocks on global exchanges will note that NVIDIA’s guidance, even stripped of China revenue, continues to set the ceiling for the sector.
