NVDA · 10-Q · 2026Q3

NVIDIA CORP

Filed 2026-08-26 · Technology · View original filing on EDGAR

Ranked Events

• Product Launch and TransitionImportance 96 · Surprise 100
  Blackwell continued to account for the majority of NVIDIA’s system shipments during the second quarter. Blackwell Ultra infrastructure drove the year-over-year increase in Compute & Networking revenue and the 117%…
• Supply Chain CommitmentsImportance 89 · Surprise 82
  NVIDIA increased supply and capacity commitments from $119 billion in the prior quarter to $279 billion as of July 26, 2026, covering current and future products. The commitments support simultaneous Blackwell and Vera…
• Supply Chain ConstraintsImportance 89 · Surprise 82
  NVIDIA is experiencing supply constraints as it transitions to shipping both Blackwell and Rubin systems. The scale and complexity of producing data center systems may cause production delays, challenges in balancing…
• Supply Commitments and InventoryImportance 89 · Surprise 82
  NVIDIA increased supply and capacity commitments from $119 billion in the prior quarter to $279 billion as of July 26, 2026 to support current and future products. The company recorded $2.1 billion of first-half…
• Revenue Concentration RiskImportance 76 · Surprise 56
  One direct customer represented 16% of second-quarter fiscal 2027 revenue, primarily within Compute & Networking. Three direct customers represented 16%, 15%, and 13% of first-half revenue, compared with two customers…
• Datacenter Infrastructure FinancingImportance 71 · Surprise 60
  NVIDIA identified land, power, shell, energy, and capital availability as critical constraints on customers’ and partners’ ability to build data centers. In August 2026, NVIDIA guaranteed up to $105 billion of credit…
• AI Infrastructure CommitmentsImportance 71 · Surprise 60
  NVIDIA entered guarantees with SB Energy covering approximately 4.25 gigawatts of IT load at the PORTS Technology Campus in Ohio, with aggregate obligations capped at $105 billion. The campus is expected to begin…
• Datacenter Demand TrendsImportance 69 · Surprise 64
  Second-quarter revenue growth was driven by data center products for accelerated computing and AI solutions, with Blackwell comprising the majority of system shipments. Data Center revenue increased 117% year over year…
• Revenue Performance and MixImportance 69 · Surprise 64
  Second-quarter fiscal 2027 revenue was $96.221 billion, up 106% year over year and 18% sequentially, while first-half revenue reached $177.837 billion versus $90.805 billion a year earlier. Data Center revenue…
• Outstanding IndebtednessImportance 64 · Surprise 42
  In June 2026, NVIDIA issued $25.0 billion of senior unsecured notes across seven tranches for general corporate purposes. As of July 26, 2026, aggregate debt maturities totaled $33.5 billion before unamortized…
• Operating Expense TrendsImportance 63 · Surprise 64
  Second-quarter operating expenses increased 55% year over year to $8.408 billion and rose 10% sequentially from $7.621 billion. Research and development expense increased 64% year over year to $7.054 billion in the…
• Income Tax Rate ChangesImportance 62 · Surprise 46
  Second-quarter fiscal 2027 income tax expense was $11.8 billion versus $4.8 billion a year earlier, while first-half expense was $23.4 billion versus $7.9 billion. The effective tax rate increased to 16.5% from 15.3%…
• Geographic Revenue ShiftImportance 59 · Surprise 48
  Revenue from customers headquartered outside the United States represented 38% of total revenue in the second quarter of fiscal 2027, compared with 30% in the prior-year quarter. For the first half of fiscal 2027,…
• Investment Gains and Other IncomeImportance 59 · Surprise 64
  Other income, net increased to $7.773 billion in the second quarter from $2.766 billion a year earlier and to $24.140 billion in the first half from $3.039 billion. Net gains from equity securities were $7.771 billion…
• IRS Tax ExaminationImportance 58 · Surprise 42
  NVIDIA reported $5.0 billion of unrecognized tax benefits as of July 26, 2026, including $503 million of related interest and penalties. The company cannot estimate the timing of potential tax liabilities, interest…
• Share Repurchase ProgramImportance 58 · Surprise 42
  NVIDIA repurchased 94 million shares for $19.7 billion in the second quarter and 203 million shares for $39.8 billion in the first half of fiscal 2027. The Board approved an additional $80.0 billion authorization on…
• Liquidity and Cash PositionImportance 54 · Surprise 40
  Cash, cash equivalents, and marketable debt securities totaled $56.586 billion at July 26, 2026, up from $49.670 billion at January 25, 2026, and marketable equity securities added $42.8 billion. First-half operating…
• Customer Concentration and ChannelsImportance 44 · Surprise 24
  NVIDIA sells directly to AIBs, distributors, ODMs, OEMs, cloud service providers, AI model makers, and system integrators, while indirect customers include AI clouds, enterprises, and public-sector entities. One direct…
• Export Controls / China Access RiskImportance 40 · Surprise 42
  The U.S. government granted licenses for limited H200 shipments to specified China-based customers, but the PRC government restricted those sales and NVIDIA has been unable to sell all licensed products. NVIDIA…
• China Access RiskImportance 40 · Surprise 42
  U.S. government licenses permitted limited H200 shipments to specified China-based customers, but PRC restrictions prevented NVIDIA from selling all licensed products. NVIDIA recorded a $0.4 billion charge in the first…

Revenue by Product (in millions)

Revenue by Geography (in millions)