NVDA · 10-K · 2026A · Full report

Liquidity and Cash Position

NVIDIA CORP · 2026-02-25 · Importance 75 · Surprise 64

As of January 25, 2026, NVIDIA held $10.6 billion in cash and cash equivalents and $51.9 billion in marketable securities, totaling $62.6 billion in cash, cash equivalents and marketable securities. Net cash provided by operating activities was $102.7 billion in FY2026 versus $64.1 billion in FY2025, driven by higher revenue. Net cash used in investing activities increased to $52.2 billion in FY2026, primarily due to higher equity investments and licensing activity, and net cash used in financing activities was $48.5 billion largely driven by higher share repurchases. Management states it believes it has sufficient liquidity to meet operating requirements for at least the next twelve months and for the foreseeable future.

Key facts

• Net cash provided by operating activities was $102,718 million for fiscal year 2026 compared to $64,089 million for fiscal year 2025.
• As of January 25, 2026, NVIDIA had cash and cash equivalents of $10,605 million and marketable securities of $51,951 million, totaling $62,556 million in cash, cash equivalents, and marketable securities.
• Interest income was $2,300 million in fiscal year 2026, up from $1,786 million in fiscal year 2025.
• Except for approximately $1.7 billion held outside the U.S. for which NVIDIA has not accrued related foreign or state taxes if repatriated, substantially all cash, cash equivalents and marketable securities held outside the U.S. at the end of fiscal year 2026 are available for use in the U.S. without incurring additional U.S. federal income taxes.
• NVIDIA stated it believes it has sufficient liquidity to meet operating requirements for at least the next twelve months and for the foreseeable future as of January 25, 2026.
• Cash provided by operating activities increased in fiscal year 2026 compared to fiscal year 2025 due to higher revenue.
• NVIDIA's marketable securities are primarily denominated in U.S. dollars and consist of publicly‑held equity securities, U.S. government and agency debt securities, highly-rated corporate and financial institution debt securities, foreign government entities' debt, and certificates of deposit.
• NVIDIA's fixed income security investments include highly rated, diversified investment types and credit exposures with shorter maturities.

Impact estimates