NVDA · 10-K · 2026A · Full report

Capital Expenditure and Manufacturing Capacity

NVIDIA CORP · 2026-02-25 · Importance 71 · Surprise 82

NVIDIA spent $6.1 billion on capital expenditures in FY2026 versus $3.4 billion in FY2025, reflecting a ~79% increase year-over-year to support growth. Management expects to further increase capital expenditures in FY2027 to support future business growth and datacenter/mfg capacity needs. These investments are positioned to expand manufacturing, test/assembly infrastructure and data center support for AI platforms. The elevated capex cadence aligns with efforts to scale Blackwell platform production and broader AI infrastructure deployments.

Key facts

• During fiscal years 2026 and 2025, NVIDIA spent $6.1 billion and $3.4 billion on capital expenditures, respectively.
• NVIDIA stated its ability to increase manufacturing capabilities will depend on a local region's manufacturing ecosystem capacity to ramp production supply to required volume and on a timely basis.