NVIDIA just posted numbers that are hard to wrap your head around. For the quarter ended July 26, 2026, the chipmaker pulled in $96.2 billion in revenue up 18% from the prior quarter and more than double (106%) what it made a year ago. Gross margins held steady at a healthy 75% on both a GAAP and non-GAAP basis, while diluted earnings per share came in at $2.46 (GAAP) and $2.22 (non-GAAP).
Jensen Huang, NVIDIA's founder and CEO, framed the results as proof that AI has crossed a threshold: "AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue." He pointed to a shift from a single lab driving demand a year ago to today's landscape of multiple frontier labs, a booming open-model ecosystem, and physical AI coming online worldwide with the newly-shipping Vera Rubin platform built specifically to meet this moment.
The Data Center engine keeps roaring. This segment alone generated $89.0 billion up 18% quarter-over-quarter and a staggering 117% year-over-year. Vera Rubin racks are now live at major cloud partners including CoreWeave, Google Cloud, Microsoft Azure, Oracle Cloud Infrastructure, and Nebius. NVIDIA also unveiled Vera, which it's calling the first CPU purpose-built for AI agents, alongside the Groq 3 LPX inference accelerator, now in full production.
The company isn't just selling chips it's underwriting the infrastructure boom itself. NVIDIA announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR to mobilize more than $500 billion in third-party capital for AI infrastructure buildout (pending definitive agreements). It's also expanding its geographic footprint aggressively new sovereign AI partnerships in Korea (with SK Telecom, NAVER, and Brookfield), a national AI infrastructure launch in Japan, and a land-and-power deal with SB Energy in Ohio.
On the shareholder side, NVIDIA returned about $26.0 billion through buybacks and dividends this quarter, and still has roughly $99.0 billion left on its repurchase authorization. The next quarterly dividend of $0.25/share pays out October 1, 2026.
Edge Computing the smaller but still-growing segment covering PCs, robotics, and autonomous vehicles brought in $7.2 billion, up 13% sequentially and 27% year-over-year. Highlights here include a partnership with Microsoft on the RTX Spark superchip for Windows PCs, expansion of the DRIVE Hyperion robotaxi platform with partners like Uber and Foxconn, and the launch of Cosmos 3, an open frontier model for physical AI.
Looking ahead, NVIDIA guided for $108.0 billion in revenue next quarter (±2%) notably assuming *zero* Data Center compute revenue from China. Gross margins are expected to dip slightly to 74.0%, and full-year tax rates are projected between 16–18%.
Taken together, the quarter reads less like a routine earnings beat and more like a snapshot of an entire industry being built in real time — chips, capital, power, and software all being stitched together under one roof.
