NVIDIA Reports Record $68.1 Billion in Q4 Revenue as AI Chip Demand Continues to Climb

NVIDIA reported its highest-ever quarterly revenue of $68.1 billion in Q4 fiscal 2026, driven by record Data Center demand for its Blackwell AI chips.
NVIDIA invested $10 billion in Anthropic and announced a major multiyear partnership with Meta, adding to existing relationships with OpenAI and xAI.
The next-generation Vera Rubin chip platform, designed to cut AI inference costs by up to 10x, shipped its first samples to customers on February 25, 2026.

Every quarter, there's a question hanging over NVIDIA's results: can AI infrastructure spending keep going at this pace, or is it slowing down?

Well, Nvidia Q4 fiscal 2026 numbers, reported on February 25, 2026, answered that directly. Revenue grew faster than in the quarter before it. Data Center, the segment that tracks how much the world is spending on AI chips, hit its highest figure yet. And the guidance for the next quarter is higher still.

NVIDIA posted $68.1 billion in Q4 revenue, up 73% year over year and 20% from Q3. Full-year fiscal 2026 revenue came in at $215.9 billion, up 65%. The company's quarterly profit, measured by GAAP net income (the actual money left after all costs and taxes under standard accounting rules), was $42.96 billion. Earnings per share, which show how much profit was generated for each share of stock, was $1.76 for the quarter on a GAAP basis. Free cash flow, the cash generated after capital expenses, was $34.9 billion for Q4 and $96.6 billion for the full fiscal year.

In the official earnings release, CEO Jensen Huang said, "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. Enterprise adoption of agents is skyrocketing. Our customers are racing to invest in AI compute, the factories powering the AI industrial revolution, and their future growth."

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Breaking Down Nvidia's Data Center and Networking Numbers

Q4 Data Center revenue was $62.3 billion, up 75% year over year and 22% sequentially. Full-year Data Center revenue reached $193.7 billion, up 68%. On the earnings call, CFO Colette Kress opened by saying, "We delivered another outstanding quarter, with record revenue, operating income, and free cash flow." She added that "Agentic and physical AI applications built on increasingly smarter and multimodal models are beginning to drive our financial performance."

Kress confirmed that Grace Blackwell systems accounted for roughly two-thirds of Data Center revenue in Q4. Nearly 9 gigawatts of Blackwell infrastructure are now deployed across cloud providers, hyperscalers, AI model makers, and enterprises. She also said on the call: "We expect sequential revenue growth throughout calendar 2026, exceeding what was included in the $500 billion Blackwell and Rubin revenue opportunity we shared last year."

Networking revenue, covering NVLink scale-up and Spectrum-X Ethernet, hit $11 billion in Q4, up more than 3.5x year over year. For the full fiscal year, NVIDIA's Networking business exceeded $31 billion, up more than 10x compared to fiscal 2021, the year NVIDIA acquired Mellanox.

Kress noted on the call that analyst CapEx expectations for 2026 across the top five cloud providers and hyperscalers are approaching $700 billion, with those five customers accounting for just over 50% of NVIDIA's Data Center revenue.

Gaming revenue for Q4 was $3.7 billion, up 47% year over year. Professional Visualization crossed $1 billion for the first time, reaching $1.3 billion in Q4, up 159% year over year. Automotive revenue was $604 million for the quarter, up 6% year over year.

NVIDIA's Sovereign AI segment, covering national governments building domestic AI infrastructure, more than tripled year over year to over $30 billion in fiscal 2026, per Kress on the call. Customers included Canada, France, the Netherlands, Singapore, and the UK.

The Anthropic Partnership, Groq Agreement, and What Ships Next

NVIDIA announced a $10 billion investment in Anthropic alongside a deep technology partnership, with Anthropic set to train and run inference on Grace Blackwell and the next-generation Vera Rubin systems. On the earnings call, Huang said, "Anthropic's Claude Cowork agent platform is revolutionary and has opened the floodgates for enterprise AI adoption. Between Claude Cowork and OpenAI, compute demand is skyrocketing, and the ChatGPT moment of agentic AI has arrived."

On the state of frontier AI partnerships more broadly, Huang said on the call: "With partnerships spanning Anthropic, Meta, OpenAI, and xAI, NVIDIA is deployed across every cloud." He also confirmed: "Meta Superintelligence Labs is scaling up at lightning speed," referencing the multiyear, multigenerational partnership covering millions of Blackwell and Rubin GPUs for training and inference.

NVIDIA entered a non-exclusive licensing agreement with Groq to accelerate AI inference at a global scale.

The Vera Rubin platform, comprising six new chips, is built to cut inference token costs by up to 10x compared to Blackwell. NVIDIA shipped the first Vera Rubin samples to customers on February 25, 2026. Production is scheduled for the second half of 2026.

For Q1 fiscal 2027, NVIDIA guided $78 billion in revenue, plus or minus 2%. NVIDIA returned $41.1 billion to shareholders across fiscal 2026 through share repurchases and dividends. As of the end of Q4, $58.5 billion remains under the company's share repurchase authorization.