Record Revenue and Strong Growth
Total revenue of $68.0B in Q4, up 73% year-over-year, with record sequential growth driven by a $11B increase in data center revenue.
Data Center Leadership and Scale
Q4 data center revenue of $62.0B, up 75% year-over-year and 22% sequentially; full-year data center revenue $194B, up 68% year-over-year; scaled data center business ~13x since fiscal 2023 (ChatGPT emergence).
Networking Surge
Networking revenue reached $11B in Q4, up more than 3.5x year-over-year; full-year networking >$31B, more than 10x vs. fiscal 2021, driven by NVLink, Spectrum-X Ethernet and InfiniBand adoption.
Profitability and Margins
GAAP gross margin 75.0% and non-GAAP gross margin 75.2% (both up sequentially); GAAP operating income and free cash flow were record levels.
Free Cash Flow and Capital Returns
Generated $35B free cash flow in Q4 and $97B for fiscal 2026; returned $41B (43% of FCF) to shareholders via buybacks and dividends.
Product and Platform Momentum (Blackwell, Rubin, Vera)
Broad adoption of Blackwell (nearly 9 GW deployed); announced Rubin platform (6 new chips) with first Vera Rubin samples shipped and production shipments on track for H2 FY27; Rubin claims up to 10x lower inference token costs vs. Blackwell.
Customer & Ecosystem Partnerships
Deepened partnerships with frontier model builders (OpenAI GPT-5.3-Codex trained/inferenced on Blackwell), $10B investment/partnership with Anthropic, nonexclusive licensing with Grok, and broad cloud/hyperscaler engagement driving demand.
End-Market Wins: Gaming and Professional Visualization
Gaming revenue $3.7B, up 47% year-over-year (benefiting from Blackwell demand); Professional Visualization crossed $1B for first time at $1.3B, up 159% year-over-year and 74% sequentially.