v3.25.2
Segment Information
 6 Months Ended
Jul. 27, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our Chief Executive Officer is our chief operating decision maker, or CODM, and reviews financial information presented on an operating segment basis for purposes of making decisions and assessing financial performance. Our CODM assesses operating performance of each segment based on regularly provided segment revenue and segment operating income. Operating results by segment include costs or expenses directly attributable to each segment, and costs or expenses that are leveraged across our unified architecture and therefore allocated between our two segments. Our CODM reviews expenses on a consolidated basis, and expenses attributable to each segment are not regularly provided to our CODM.
The Compute & Networking segment includes our Data Center accelerated computing platforms and artificial intelligence, or AI, solutions and software; networking; automotive platforms and autonomous and electric vehicle solutions; Jetson for robotics and other embedded platforms; and DGX Cloud computing services.
The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse Enterprise software for building and operating industrial AI and digital twin applications.
Certain expenses are not allocated to either Compute & Networking or Graphics for purposes of making operating decisions or assessing financial performance. The expenses include stock-based compensation expense, corporate infrastructure and support costs, acquisition-related and other costs, and other non-recurring charges and benefits that our CODM deems to be enterprise in nature.

Our CODM does not review any information regarding total assets on a reportable segment basis. There are no intersegment transactions. The accounting policies for segment reporting are the same as for our consolidated financial statements. The table below presents details of our reportable segments.

Compute & NetworkingGraphics
Total
 (In millions)
Three Months Ended Jul 27, 2025
  
Revenue$41,331 $5,412 $46,743 
Other segment items (1)12,968 3,170 16,138 
Operating income (loss)$28,363 $2,242 $30,605 
Three Months Ended Jul 28, 2024
  
Revenue$26,446 $3,594 $30,040 
Other segment items (1)7,598 2,225 9,823 
Operating income (loss)$18,848 $1,369 $20,217 
Six Months Ended Jul 27, 2025
Revenue$80,920 $9,885 $90,805 
Other segment items (1)30,503 6,003 36,506 
Operating income (loss)$50,417 $3,882 $54,299 
Six Months Ended Jul 28, 2024
Revenue$49,121 $6,963 $56,084 
Other segment items (1)13,225 4,354 17,579 
Operating income (loss)$35,896 $2,609 $38,505 
(1)    Other segment items for the Compute & Networking and Graphics reportable segments primarily include product costs and inventory provisions, compensation and benefits excluding stock-based compensation expense, compute and infrastructure expenses, and engineering development costs.
Depreciation and amortization expense attributable to our Compute and Networking segment was $383 million and $161 million for the second quarter, and $684 million and $307 million for the first half, of fiscal years 2026 and 2025, respectively. Depreciation and amortization expense attributable to our Graphics segment was $148 million and $86 million for the second quarter, and $252 million and $171 million for the first half, of fiscal years 2026 and 2025, respectively. Acquisition-related intangible amortization expense is not allocated to either Compute & Networking or Graphics for purposes of making operating decisions or assessing financial performance.
A reconciliation of segment operating income to consolidated income before income tax for the second quarter and first half of fiscal years 2026 and 2025 were as follows:
Three Months EndedSix Months Ended
Jul 27, 2025Jul 28, 2024Jul 27, 2025Jul 28, 2024
(In millions)
Segment operating income
$30,605 $20,217 $54,299 $38,505 
Stock-based compensation expense(1,624)(1,154)(3,099)(2,164)
Unallocated cost of revenue and operating expenses (440)(280)(859)(508)
Acquisition-related and other costs(101)(141)(263)(282)
Interest income592 444 1,108 803 
Interest expense(62)(61)(124)(125)
Other income (expense), net2,236 189 2,055 264 
Consolidated income before income tax
$31,206 $19,214 $53,117 $36,493 
Revenue by geographic area is based upon the billing location of the customer. The end customer and shipping location may be different from our customer’s billing location.
 Three Months EndedSix Months Ended
 Jul 27, 2025Jul 28, 2024Jul 27, 2025Jul 28, 2024
 (In millions)
Geographic Revenue based upon Customer Billing Location:
  
United States$23,470 $13,022 $44,209 $26,518 
Singapore (1)10,156 5,622 19,173 9,659 
Taiwan8,529 5,740 15,687 10,113 
China (including Hong Kong)2,769 3,667 8,291 6,158 
Other1,819 1,989 3,445 3,636 
Total revenue$46,743 $30,040 $90,805 $56,084 
(1)    Singapore represented 22%, and 21% of the second quarter and first half of fiscal year 2026 total revenue based upon customer billing location, respectively. Customers use Singapore to centralize invoicing while our products are almost always shipped elsewhere. Over 99% of controlled Data Center compute revenue billed to Singapore was for orders from U.S.-based customers for the second quarter and first half of fiscal year 2026. Controlled Data Center compute refers to products that meet the characteristics of Export Control Classification Numbers 3A090.a or 4A090.a.
Revenue from sales to customers outside of the United States accounted for 50% and 51% of total revenue for the second quarter and first half of fiscal year 2026, respectively, and 57% and 53% of total revenue for the second quarter and first half of fiscal year 2025, respectively.
We refer to customers who purchase products directly from NVIDIA as direct customers, such as add-in board manufacturers, distributors, ODMs, OEMs, and system integrators. We have certain customers that may purchase products directly from NVIDIA and may use either internal resources or third-party system integrators to complete their build. We also have indirect customers, who purchase products through our direct customers; indirect customers include cloud service providers, or CSPs, consumer internet companies, enterprises, and public sector entities.
For the second quarter of fiscal year 2026, sales to one direct customer, Customer A, represented 23% of total revenue; and sales to a second direct customer, Customer B, represented 16% of total revenue, respectively, both of which were attributable to the Compute & Networking segment. For the first half of fiscal year 2026, sales to one direct customer, Customer A, represented 20% of total revenue; and sales to a second direct customer, Customer B, represented 15% of total revenue, respectively, both of which were attributable to the Compute & Networking segment.
Sales to four direct customers represented 14%, 11%, 11%, and 10% of revenue for the second quarter, and sales to three direct customers represented 14%, 10%, and 10% of revenue for the first half, of fiscal year 2025, all of which were attributable to the Compute & Networking segment.
The following table summarizes revenue by specialized markets:
 Three Months EndedSix Months Ended
 Jul 27, 2025Jul 28, 2024Jul 27, 2025Jul 28, 2024
 (In millions)
Revenue by End Market:  
Data Center$41,096 $26,272 $80,208 $48,835 
Compute33,844 22,604 67,999 41,996 
Networking7,252 3,668 12,209 6,839 
Gaming4,287 2,880 8,050 5,527 
Professional Visualization601 454 1,110 881 
Automotive586 346 1,153 675 
OEM and Other173 88 284 166 
Total revenue$46,743 $30,040 $90,805 $56,084