v3.25.4
Segment Information
 12 Months Ended
Jan. 25, 2026
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 and networking platforms and AI solutions and software, and Automotive platforms and autonomous and electric vehicle solutions including software.
The Graphics segment includes GeForce GPUs for gaming and PCs, and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics.
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 & Networking
Graphics
Total
(In millions)
Year Ended Jan 25, 2026
  
Revenue$193,479 $22,459 $215,938 
Other segment items (1)63,338 13,303 76,641 
Operating income
$130,141 $9,156 $139,297 
Year Ended Jan 26, 2025
  
Revenue$116,193 $14,304 $130,497 
Other segment items (1)33,318 9,219 42,537 
Operating income$82,875 $5,085 $87,960 
Year Ended Jan 28, 2024
  
Revenue$47,405 $13,517 $60,922 
Other segment items (1)15,389 7,671 23,060 
Operating income$32,016 $5,846 $37,862 
(1)Other segment items primarily include product costs and inventory provisions, compensation and benefits excluding stock-based compensation expense, computing infrastructure expenses, and engineering development costs.
Depreciation and amortization expense attributable to our Compute & Networking segment for fiscal years 2026, 2025, and 2024 was $1.6 billion, $732 million, and $457 million, respectively. Depreciation and amortization expense attributable to our Graphics segment for fiscal years 2026, 2025, and 2024 was $590 million, $372 million, and $307 million, 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 fiscal years 2026, 2025, and 2024 were as follows:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
(In millions)
Segment operating income
$139,297 $87,960 $37,862 
Stock-based compensation expense(6,386)(4,737)(3,549)
Unallocated operating expenses
(1,997)(1,171)(728)
Acquisition-related and other costs(527)(599)(613)
Interest income
2,300 1,786 866 
Interest expense
(259)(247)(257)
Other income, net
9,022 1,034 237 
Consolidated income before income tax
$141,450 $84,026 $33,818 
Revenue by geographic area is based upon the location of the customers’ headquarters. The end customer and shipping location may be different from our customers' headquarters location.
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
Geographic Revenue based upon Customer Headquarters Location (1):
(In millions)
United States$149,617 $77,482 $31,533 
Taiwan (2)
42,345 23,600 14,912 
China (including Hong Kong)19,677 25,048 12,330 
Other
4,299 4,367 2,147 
Total revenue$215,938 $130,497 $60,922 
(1)In the third quarter of fiscal year 2026, we changed to revenue based upon the location of our customers’ headquarters as we believe it provides a better representation of the geographic profile of our revenue. Prior period information has been recast to reflect this change.
(2)In fiscal year 2026, we estimate 76% of Data Center revenue from Taiwan-headquartered customers was attributed to end customers based in the United States and Europe.
Revenue from sales to customers headquartered outside of the United States accounted for 31%, 41%, and 48% of total revenue for fiscal years 2026, 2025, and 2024, respectively. The increase in revenue to the United States for fiscal years 2026 and 2025 was primarily due to higher U.S.-based Compute & Networking segment demand.
We refer to customers who purchase products directly from NVIDIA as direct customers, such as AIBs, distributors, ODMs, OEMs, CSPs, AI model makers, and system integrators. Certain direct customers may use either internal resources or third-party system integrators to complete their build. We refer to indirect customers as those who purchase products through our direct customers; indirect customers include CSPs, Neocloud builders, AI model makers, enterprises, and public sector entities. Our revenue is concentrated among a limited number of direct and indirect customers and this trend may continue.
Direct Customers – For fiscal year 2026, sales to one direct customer represented 22% of total revenue and sales to another direct customer represented 14% of total revenue, all of which were primarily attributable to the Compute & Networking segment.
For fiscal year 2025, sales to one direct customer represented 12% of total revenue and sales to two direct customers each represented 11% of total revenue, all of which were primarily attributable to the Compute & Networking segment.
For fiscal year 2024, sales to one direct customer represented 13% of total revenue, and were primarily attributable to the Compute & Networking segment.
The following table summarizes revenue by specialized markets:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
Revenue by End Market:
(In millions)
Data Center$193,737 $115,186 $47,525 
Compute162,361 102,196 38,950 
Networking31,376 12,990 8,575 
Gaming16,042 11,350 10,447 
Professional Visualization3,191 1,878 1,553 
Automotive2,349 1,694 1,091 
OEM and Other619 389 306 
Total revenue$215,938 $130,497 $60,922 
The following table presents summarized information for long-lived assets by country. Long-lived assets consist of property and equipment and exclude other assets, operating lease assets, goodwill, and intangible assets.
 Jan 25, 2026Jan 26, 2025
Long-lived assets:
(In millions)
United States$5,125 $3,626 
Taiwan3,219 1,481 
Israel1,471 840 
Other568 336 
Total long-lived assets$10,383 $6,283