Nvidia 先前曾表示其 Blackwell 晶片到 2026 年底将创造 $500 billion，Kress 表示 Blackwell 产品线与后续的 Rubin 仍将超越先前销售预测。在中国方面，Kress 表示美国政府已核发许可，可出货少量 H200 处理器；Nvidia 不确定是否会获得中国政府批准，且中国的资料中心营收仍未纳入预测。Nvidia 也表示，这项小规模许可要求出货前接受美国检查，且该处理器进入美国时适用 25% 关税。
在截至 Jan. 25 的本财年第四季度，Nvidia 报告营收年增 73% 至 $68.1 billion，扣除特定项目后每股获利 $1.62；分析师预期为 $65.9 billion 与每股 $1.53；调整后毛利率为 75.2%，同样高于预估。资料中心营收为 $62.3 billion，高于预估的 $60.4 billion；游戏营收为 $3.73 billion，低于预估的 $4.01 billion；汽车营收为 $604 million，低于预估的 $643 million。Nvidia 表示，记忆体限制推高了价格并限制装置出货，并提到 Meta 计划部署「millions」颗 Nvidia 处理器；AMD 则表示其与 Meta 的类似交易价值达 multiple tens of billions of dollars。
Nvidia shares fell as much as 1.5% during the analyst conference call after the company gave a fiscal first-quarter revenue outlook of about $78 billion, which was above the average Wall Street estimate of $72.8 billion, while some analysts had projected numbers approaching $80 billion. By Wednesday evening, the stock was little changed. Jensen Huang said customers are already making money from added compute capacity and will keep investing at elevated levels, and Colette Kress said Nvidia has inventory and supply commitments for demand including shipments extending into calendar 2027.
Nvidia had previously said its Blackwell chips would generate $500 billion by the end of 2026, and Kress said the Blackwell lineup and the Rubin successor will still beat earlier sales projections. In China, Kress said the US government granted licenses to ship a small amount of H200 processors, Nvidia is unsure whether Chinese government approval will be granted, and data center revenue in China is still excluded from forecasts. Nvidia also said the small-scale license requires US inspection before shipment and that the processors are subject to a 25% tariff when they come into the US.
For the fiscal fourth quarter ended Jan. 25, Nvidia reported revenue up 73% to $68.1 billion and profit of $1.62 a share excluding certain items, versus analyst expectations of $65.9 billion and $1.53 a share; adjusted gross margin was 75.2%, also above estimates. Data center revenue was $62.3 billion compared with a $60.4 billion estimate, while gaming revenue was $3.73 billion versus a $4.01 billion estimate and automotive revenue was $604 million versus a $643 million estimate. Nvidia said memory constraints have raised prices and limited device shipments, and it cited Meta’s plan to deploy “millions” of Nvidia processors, while AMD said its similar Meta deal is worth multiple tens of billions of dollars.