NVIDIA Hits $215.9 Billion Annual Revenue After 73% Q4 Surge, Faces China Export Uncertainty
US chip giant NVIDIA has delivered another record-breaking quarter, driven by surging global demand for artificial intelligence (AI) infrastructure. However, despite strong earnings and upbeat guidance, global markets reacted with caution as investors weighed high expectations and ongoing uncertainty around China sales.
The company released its fourth-quarter and full-year results for fiscal 2026 on 26 February 2026, confirming its position at the centre of the AI boom.
NVIDIA Q4 FY2026 Earnings: Revenue Jumps 73% as AI Data Centre Demand Surges
NVIDIA reported $68.1 billion in revenue for Q4 FY2026, marking a 73% year-on-year increase. For the full fiscal year, revenue reached $215.9 billion, up 65% compared with the previous year.
Growth was largely driven by its data centre segment, which continues to benefit from heavy spending by cloud providers, enterprises and AI developers building advanced computing systems.
The company also issued strong guidance for the first quarter of fiscal 2027, forecasting approximately $78 billion in revenue, signalling continued demand momentum.
NVIDIA Key Financial Highlights (Q4 & FY2026)
| Metric | Q4 FY2026 | FY2026 Full Year | Year-on-Year Growth |
|---|---|---|---|
| Revenue | $68.1 billion | $215.9 billion | +73% (Q4), +65% (FY) |
| Main Growth Driver | Data Centre AI Chips | AI Infrastructure | Strong global demand |
| Q1 FY2027 Guidance | ~$78 billion (forecast) | — | Above expectations |
The numbers confirm that AI spending remains strong across global technology markets. However, investors are now questioning how long this pace of growth can continue.
Global Stock Markets React to NVIDIA Results: Asia Rises, US and Europe Turn Cautious
Despite the earnings beat, market reaction was mixed.
Asian equities showed resilience after the announcement. Technology-heavy indices in Japan and South Korea posted gains, reflecting confidence in the broader AI investment cycle.
However, the US and European markets were more restrained. Futures trading indicated limited upside, suggesting that much of NVIDIA’s strong performance had already been priced in by investors.
Market analysts say expectations were extremely high going into the results. While the figures were strong, they were not dramatically above forecasts. This led to profit-taking and a cautious tone in global trading.
China AI Chip Sales Remain a Key Risk for NVIDIA’s 2026 Outlook
One major area of uncertainty remains China.
Export restrictions and ongoing regulatory reviews continue to affect NVIDIA’s ability to ship its most advanced AI chips to Chinese customers. Reports indicate that sales of certain high-end AI processors to China remain limited amid US security reviews.
China represents a significant potential market for AI infrastructure. However, geopolitical tensions and export controls could slow growth in that region.
For investors, this remains one of the biggest variables in NVIDIA’s forward outlook for 2026.
What’s Next for NVIDIA and the AI Market in 2026?
NVIDIA’s leadership has emphasised that AI adoption is still in its early stages. Demand from hyperscale cloud companies, governments and enterprises building AI models remains strong.
Key factors to watch going forward include:
- Continued AI capital expenditure by major tech firms
- Competitive pressure from rival chipmakers
- Regulatory developments impacting China sales
- Sustainability of data centre investment levels
For now, NVIDIA remains the dominant force in AI computing. But as markets mature, expectations are becoming harder to exceed.
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