Nvidia unveiled fiscal Q4 results on Wednesday that handily beat expectations, powered by booming AI hardware demand. Shares rose in after-hours trade before paring gains.
Adjusted earnings per share came in at $1.62 versus the $1.53 LSEG forecast. Revenue reached $68.13 billion against $66.21 billion predicted—a 73% jump from $39.3 billion last year.
Data centres delivered $62.3 billion, topping StreetAccount’s $60.69 billion estimate and now over 91% of sales. Net income doubled to $43 billion ($1.76/share) from $22.1 billion (89 cents/share).
Q1 guidance projects $78 billion (±2%), exceeding $72.6 billion consensus with no China data centre revenue assumed. Nvidia shares are up 5% year-to-date; only Apple (under 1%) joins it among trillion-dollar gainers amid Nasdaq weakness.
Hyperscalers like Alphabet, Amazon, Meta, and Microsoft signal $700 billion combined capex for AI buildouts. CFO commentary noted they “remained our largest customer category” at over 50% of data centre revenue. Networking sales soared 263% to $10.98 billion via NVLink and Spectrum-X.
Gaming rose 47% to $3.7 billion year-on-year but fell 13% sequentially amid memory shortages favouring AI. Colette Kress warned of drags “in the first quarter of fiscal 2027 and beyond.”
Vera Rubin samples shipped this week with production on track for H2; it promises 10x performance per watt amid power constraints. Supply chain shifts to U.S. and Mexico bolster resilience. “These moves are expected to strengthen our supply chain, add resiliency and redundancy, and meet the growing demand for AI infrastructure.”
Automotive grew 6% to $604 million (below estimates); pro-viz hit $1.32 billion (+159%).
Investments reached $17.5 billion in startups. “Those investments may not become profitable in the near term, or at all, and there can be no assurance that we will realize a return on our investments.”
Jensen Huang said Nvidia nears an OpenAI pact: “to work with OpenAI toward a partnership agreement and believe we are close.” No assurance that a transaction will be completed per filings.
AI capex could hit $1 trillion globally by 2027, cementing Nvidia’s lead.