NVIDIA CORP, 10-K filed on 2/25/2026
Annual Report
v3.25.4
Cover Page - USD ($)
shares in Billions, $ in Trillions
12 Months Ended
Jan. 25, 2026
Feb. 20, 2026
Jul. 25, 2025
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 25, 2026    
Current Fiscal Year End Date --01-25    
Document Transition Report false    
Entity File Number 0-23985    
Entity Registrant Name NVIDIA CORP    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 94-3177549    
Entity Address, Address Line One 2788 San Tomas Expressway    
Entity Address, City or Town Santa Clara    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 95051    
City Area Code 408    
Local Phone Number 486-2000    
Title of 12(b) Security Common Stock, $0.001 par value per share    
Trading Symbol NVDA    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 4.0
Entity Common Stock, Shares Outstanding   24.3  
Documents Incorporated by Reference
Portions of the registrant's Proxy Statement for its 2026 Annual Meeting of Shareholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K are incorporated by reference into Part III, Items 10-14 of this Annual Report on Form 10-K.
   
Entity Central Index Key 0001045810    
Document Fiscal Year Focus 2026    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.4
Audit Information
12 Months Ended
Jan. 25, 2026
Audit Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location San Jose, California
v3.25.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Income Statement [Abstract]      
Revenue $ 215,938 $ 130,497 $ 60,922
Cost of revenue 62,475 32,639 16,621
Gross profit 153,463 97,858 44,301
Operating expenses      
Research and development 18,497 12,914 8,675
Sales, general and administrative 4,579 3,491 2,654
Total operating expenses 23,076 16,405 11,329
Operating income 130,387 81,453 32,972
Interest income 2,300 1,786 866
Interest expense (259) (247) (257)
Other income, net 9,022 1,034 237
Total other income, net 11,063 2,573 846
Income before income tax 141,450 84,026 33,818
Income tax expense 21,383 11,146 4,058
Net income $ 120,067 $ 72,880 $ 29,760
Net income per share:      
Basic (in USD per share) $ 4.93 $ 2.97 $ 1.21
Diluted (in USD per share) $ 4.90 $ 2.94 $ 1.19
Weighted average shares used in per share computation:      
Basic (in shares) 24,359 24,555 24,690
Diluted (in shares) 24,514 24,804 24,940
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Statement of Comprehensive Income [Abstract]      
Net income $ 120,067 $ 72,880 $ 29,760
Available-for-sale securities:      
Net change in unrealized gain 107 1 80
Cash flow hedges:      
Net change in unrealized gain (loss) 43 0 (10)
Other comprehensive income, net of tax 150 1 70
Total comprehensive income $ 120,217 $ 72,881 $ 29,830
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Current assets:    
Cash and cash equivalents $ 10,605 $ 8,589
Marketable securities 51,951 34,621
Accounts receivable, net 38,466 23,065
Inventories 21,403 10,080
Prepaid expenses and other current assets 3,180 3,771
Total current assets 125,605 80,126
Property and equipment, net 10,383 6,283
Operating lease assets 2,867 1,793
Goodwill 20,832 5,188
Intangible assets, net 3,306 807
Deferred income tax assets 13,258 10,979
Non-marketable equity securities 22,251 3,387
Other assets 8,301 3,038
Total assets 206,803 111,601
Current liabilities:    
Accounts payable 9,812 6,310
Accrued and other current liabilities 21,352 11,737
Short-term debt 999 0
Total current liabilities 32,163 18,047
Long-term debt 7,469 8,463
Long-term operating lease liabilities 2,572 1,519
Other long-term liabilities 7,306 4,245
Total liabilities 49,510 32,274
Commitments and contingencies - see Note 12 0 0
Shareholders’ equity:    
Preferred stock, $0.001 par value; 2 shares authorized; none issued 0 0
Common stock, $0.001 par value; 80,000 shares authorized; 24,304 shares issued and outstanding as of January 25, 2026; 24,477 shares issued and outstanding as of January 26, 2025 24 24
Additional paid-in capital 10,118 11,237
Accumulated other comprehensive income 178 28
Retained earnings 146,973 68,038
Total shareholders' equity 157,293 79,327
Total liabilities and shareholders' equity $ 206,803 $ 111,601
v3.25.4
Consolidated Balance Sheets (Parenthetical) - $ / shares
shares in Millions
Jan. 25, 2026
Jan. 26, 2025
Statement of Financial Position [Abstract]    
Preferred stock, par value (in USD per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (in shares) 2 2
Preferred stock, shares issued (in shares) 0 0
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 80,000 80,000
Common stock, shares issued (in shares) 24,304 24,477
Common stock, shares outstanding (in shares) 24,304 24,477
v3.25.4
Consolidated Statements of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock Outstanding
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance, common stock outstanding (in shares) at Jan. 29, 2023   24,661      
Beginning balances, shareholders' equity at Jan. 29, 2023 $ 22,101 $ 25 $ 11,948 $ (43) $ 10,171
Increase (Decrease) in Shareholders' Equity          
Net income 29,760       29,760
Other comprehensive income 70     70  
Issuance of common stock (in shares)   265      
Issuance of common stock 403   403    
Tax withholding related to common stock (in shares)   (72)      
Tax withholding related to common stock (2,783)   (2,783)    
Share repurchased (in shares)   (211)      
Shares repurchased (9,746)   (27)   (9,719)
Cash dividends declared and paid (395)       (395)
Stock-based compensation 3,568   3,568    
Ending balance, common stock outstanding (in shares) at Jan. 28, 2024   24,643      
Ending balances, shareholders' equity at Jan. 28, 2024 42,978 $ 25 13,109 27 29,817
Increase (Decrease) in Shareholders' Equity          
Net income 72,880       72,880
Other comprehensive income 1     1  
Issuance of common stock (in shares)   203      
Issuance of common stock 490   490    
Tax withholding related to common stock (in shares)   (59)      
Tax withholding related to common stock $ (6,930)   (6,930)    
Share repurchased (in shares) (310) (310)      
Shares repurchased $ (34,015) $ (1) (189)   (33,825)
Cash dividends declared and paid (834)       (834)
Stock-based compensation $ 4,757   4,757    
Ending balance, common stock outstanding (in shares) at Jan. 26, 2025 24,477 24,477      
Ending balances, shareholders' equity at Jan. 26, 2025 $ 79,327 $ 24 11,237 28 68,038
Increase (Decrease) in Shareholders' Equity          
Net income 120,067       120,067
Other comprehensive income 150     150  
Issuance of common stock (in shares)   160      
Issuance of common stock 644   644    
Tax withholding related to common stock (in shares)   (51)      
Tax withholding related to common stock $ (7,948)   (7,948)    
Share repurchased (in shares) (282) (282)      
Shares repurchased $ (40,388)   (230)   (40,158)
Cash dividends declared and paid (974)       (974)
Fair value of partially vested equity awards assumed in connection with acquisitions 28   28    
Stock-based compensation $ 6,387   6,387    
Ending balance, common stock outstanding (in shares) at Jan. 25, 2026 24,304 24,304      
Ending balances, shareholders' equity at Jan. 25, 2026 $ 157,293 $ 24 $ 10,118 $ 178 $ 146,973
v3.25.4
Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Statement of Stockholders' Equity [Abstract]      
Cash dividends declared and paid (USD per common share) $ 0.04 $ 0.034 $ 0.016
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Cash flows from operating activities:      
Net income $ 120,067 $ 72,880 $ 29,760
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 6,386 4,737 3,549
Depreciation and amortization 2,843 1,864 1,508
Gains on non-marketable equity securities and publicly-held equity securities, net (8,918) (1,030) (238)
Deferred income taxes (1,424) (4,477) (2,489)
Other (287) (502) (278)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (15,399) (13,063) (6,172)
Inventories (11,324) (4,781) (98)
Prepaid expenses and other assets 577 (395) (1,522)
Accounts payable 3,096 3,357 1,531
Accrued and other current liabilities 5,257 4,278 2,025
Other long-term liabilities 1,844 1,221 514
Net cash provided by operating activities 102,718 64,089 28,090
Cash flows from investing activities:      
Proceeds from sales of marketable securities 15,157 495 50
Proceeds from maturities of marketable securities 11,226 11,195 9,732
Proceeds from sales of non-marketable equity securities 84 171 1
Purchases of marketable securities (40,616) (26,575) (18,211)
Purchases of non-marketable equity securities (17,502) (1,486) (862)
Groq, Inc. (13,000) 0 0
Purchases related to property and equipment and intangible assets (6,042) (3,236) (1,069)
Acquisitions, net of cash acquired (1,535) (1,007) (83)
Other 0 22 (124)
Net cash used in investing activities (52,228) (20,421) (10,566)
Cash flows from financing activities:      
Proceeds related to employee stock plans 644 490 403
Payments related to repurchases of common stock (40,086) (33,706) (9,533)
Payments related to employee stock plan taxes (7,948) (6,930) (2,783)
Dividends paid (974) (834) (395)
Principal payments on property and equipment and intangible assets (101) (129) (74)
Repayment of debt 0 (1,250) (1,250)
Other (9) 0 (1)
Net cash used in financing activities (48,474) (42,359) (13,633)
Change in cash and cash equivalents 2,016 1,309 3,891
Cash and cash equivalents at beginning of period 8,589 7,280 3,389
Cash and cash equivalents at end of period 10,605 8,589 7,280
Supplemental disclosures of cash flow information:      
Cash paid for income taxes, net $ 20,288 $ 15,118 $ 6,549
v3.25.4
Organization and Summary of Significant Accounting Policies
12 Months Ended
Jan. 25, 2026
Accounting Policies [Abstract]  
Organization and Summary of Significant Accounting Policies Organization and Summary of Significant Accounting Policies
Our Company
Headquartered in Santa Clara, California, NVIDIA was incorporated in California in April 1993 and reincorporated in Delaware in April 1998.
All references to “NVIDIA,” “we,” “us,” “our” or the “Company” mean NVIDIA Corporation and its subsidiaries.
Certain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation. Non-marketable equity securities, previously presented within other assets, were reclassified to be presented separately on our consolidated balance sheets and had no impact to total assets or consolidated statement of cash flows.
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2026, 2025 and 2024 were all 52-week years. Fiscal year 2027 will be a 53-week year with the fourth quarter consisting of 14 weeks.
Principles of Consolidation
Our consolidated financial statements include the accounts of NVIDIA Corporation and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from our estimates. On an on-going basis, we evaluate our estimates, including those related to accounts receivable, cash equivalents and marketable securities, goodwill, income taxes, inventories and product purchase commitments, investigation and settlement costs, litigation, non-marketable equity securities, other contingencies, property, plant, and equipment, revenue recognition, and stock-based compensation. These estimates are based on historical facts and various other assumptions that we believe are reasonable.
Revenue Recognition
We derive our revenue primarily from product sales including hardware and systems. We determine revenue recognition through the following steps: (1) identification of the contract with a customer; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract (where revenue is allocated on a relative standalone selling price basis by maximizing the use of observable inputs to determine the standalone selling price for each performance obligation); and (5) recognition of revenue when, or as, we satisfy a performance obligation. Payment from customers, per our standard payment terms, is generally due shortly after delivery of our products.
Product Sales Revenue
Revenue from product sales is recognized upon transfer of control of products to customers in an amount that reflects the consideration we expect to receive in exchange for those products. Certain products are sold with support or an extended warranty. Support and extended warranty revenue are recognized ratably over the service period, or as services are performed. Revenue is recognized net of allowances for returns, customer programs and any taxes collected from customers.
For products sold with a right of return, we record a reduction to revenue by establishing a sales return allowance for estimated product returns at the time revenue is recognized, based primarily on historical return rates. However, if product returns for a fiscal period are anticipated to exceed historical return rates, we may determine that additional sales return allowances are required to accurately reflect our estimated exposure for product returns.
Our customer programs involve rebates, which are designed to serve as sales incentives to resellers of our products in various target markets, and MDFs which represent monies paid to our partners that are earmarked for market segment development and are designed to support our partners’ activities while also promoting NVIDIA products. We account for customer programs as a reduction to revenue and accrue for such programs for potential rebates and MDFs based on the amount we expect to be claimed by customers.
Contracts with Multiple Performance Obligations
Our contracts may contain more than one deliverable, each of which is separately accounted for as a distinct performance obligation. We account for multiple agreements with a single customer as a single contract if the contractual terms and/or substance of those agreements indicate that they may be so closely related that they are, in effect, parts of a single contract.
We allocate the total transaction price to each distinct performance obligation in an arrangement with multiple performance obligations on a relative standalone selling price basis. The standalone selling price reflects the price we would charge for a specific product or service if it were sold separately in similar circumstances and to similar customers. When determining standalone selling price, we maximize the use of observable inputs.
Product Warranties
We offer a limited warranty to end-users ranging from one to three years for products to repair or replace products for manufacturing defects or hardware component failures. Cost of revenue includes the estimated cost of product warranties that are calculated at the point of revenue recognition. Under limited circumstances, we may offer an extended limited warranty to customers for certain products. We also accrue for known warranty and indemnification issues if a loss is probable and can be reasonably estimated.
Stock-based Compensation
We use the closing trading price of our common stock on the date of grant, minus a dividend yield discount, as the fair value of awards of restricted stock units, or RSUs, and performance stock units, or PSUs, that are based on our corporate financial performance targets. We use a Monte Carlo simulation on the date of grant to estimate the fair value of PSUs that are based on our stock performance compared to market performance, or market-based PSUs. The compensation expense for RSUs and market-based PSUs is recognized using a straight-line attribution method over the requisite employee service period while compensation expense for PSUs is recognized using an accelerated amortization model based on performance targets probable of achievement. We estimate the fair value of shares to be issued under our employee stock purchase plan, or ESPP, using the Black-Scholes model at the commencement of an offering period in March and September of each year. Stock-based compensation for our ESPP is expensed using an accelerated amortization model. Additionally, for RSUs, PSUs, and market-based PSUs, we estimate expected forfeitures based on our historical forfeitures.
Litigation, Investigation and Settlement Costs
We currently are, and will likely continue to be subject to claims, litigation, and other actions, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, commercial disputes, goods and services offered by us and by third parties, and other matters. There are many uncertainties associated with any litigation or investigation, and we cannot be certain that these actions or other third-party claims against us will be resolved without litigation, fines and/or substantial settlement payments or judgments. If information becomes available that causes us to determine that a loss in any of our pending litigation, investigations or settlements is probable, and we can reasonably estimate the loss associated with such events, we will record the loss. However, the actual liability in any such litigation or investigation may be materially different from our estimates, which could require us to record additional costs. If we determine that a loss is reasonably possible and the loss or range of loss can be estimated, we disclose the reasonably possible loss.
Foreign Currency Remeasurement
We use the U.S. dollar as our functional currency for our subsidiaries. Foreign currency monetary assets and liabilities are remeasured into United States dollars at end-of-period exchange rates. Non-monetary assets and liabilities such as property and equipment and equity are remeasured at historical exchange rates. Revenue and expenses are remeasured at exchange rates in effect during each period, except for those expenses related to non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in earnings in our Consolidated Statements of Income and to date have not been significant.
Income Taxes
We recognize federal, state and foreign current tax liabilities or assets based on our estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. We recognize federal, state and foreign deferred tax assets or liabilities, as appropriate, for our estimate of future tax effects attributable to temporary differences and carryforwards; and we record a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not expected to be realized.
Our calculation of deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. Our estimates of deferred tax assets and liabilities may change
based, in part, on added certainty or finality to an anticipated outcome, changes in accounting standards or tax laws in the U.S., or foreign jurisdictions where we operate, or changes in other facts or circumstances. In addition, we recognize liabilities for potential U.S. and foreign income tax contingencies based on our estimate of whether, and the extent to which, additional taxes may be due. If we determine that payment of these amounts is unnecessary or if the recorded tax liability is less than our current assessment, we may be required to recognize an income tax benefit or additional income tax expense in our financial statements accordingly.
As of January 25, 2026, we had a valuation allowance of $768 million related to capital loss carryforwards, and certain other deferred tax assets that management determined are not likely to be realized due, in part, to jurisdictional projections of future taxable income, including capital gains. To the extent realization of the deferred tax assets becomes more-likely-than-not, we would recognize such deferred tax assets as income tax benefits during the period.
We recognize the benefit from a tax position only if it is more-likely-than-not that the position would be sustained upon audit based solely on the technical merits of the tax position. Our policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense.
Net Income Per Share
Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common and potentially dilutive shares outstanding during the period, using the treasury stock method. Any anti-dilutive effect of equity awards outstanding is not included in the computation of diluted net income per share.
Cash and Cash Equivalents and Marketable Securities
We consider all highly liquid investments that are readily convertible into cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Marketable securities consist of highly liquid debt investments with maturities of greater than three months when purchased and publicly-held equity securities. We classify these investments as current or long term based on the nature of the investments and their availability for use in current operations.
We record our debt investments as cash equivalents and marketable debt securities and classify them at the date of acquisition as available-for-sale. These available-for-sale debt securities are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income or loss, a component of shareholders’ equity, net of tax. The fair value of interest-bearing debt securities includes accrued interest. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method and recorded in the Other income (expense), net, section of our Consolidated Statements of Income.
Available-for-sale debt securities are subject to impairment review. If the estimated fair value of available-for-sale debt securities is less than its amortized cost basis, we determine if the difference, if any, is caused by expected credit losses and write-down the amortized cost basis of the securities if it is more likely than not we will be required or we intend to sell the securities before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in the Other income, net, net section of our Consolidated Statements of Income.
Publicly-held equity securities and money market funds have readily determinable fair values with changes in fair value recorded in Other income, net.
Fair Value of Financial Instruments
The carrying value of cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to their relatively short maturities as of January 25, 2026 and January 26, 2025. Marketable debt and equity securities are reported at fair value. Derivative instruments are recognized as either assets or liabilities and are measured at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. For derivative instruments designated as accounting hedges, the effective portion of the gains or losses on the derivatives is initially reported as a component of other comprehensive income or loss and is subsequently recognized in earnings when the hedged exposure is recognized in earnings. For derivative instruments not designated as accounting hedges, changes in fair value are recognized in earnings.
Financial instruments measured and disclosed at fair value are classified and disclosed based on the observability of inputs used in the determination of fair value as follows:
Level 1: Observable inputs such as quoted prices in active markets.
Level 2: Observable inputs other than Level 1 prices, such as quoted prices in less active markets or model-derived valuations that are observable either directly or indirectly.
Level 3: Unobservable inputs in which there is little or no market data that are significant to the fair value of the assets or liabilities.
Concentration of Credit Risk
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, marketable securities, lease guarantees, and accounts receivable. Our investment policy requires the purchase of highly-rated fixed income securities, the diversification of investment type and credit exposures, and includes certain limits on our portfolio maturities. We perform ongoing credit evaluations of our customers’ financial condition and maintain an allowance for potential credit losses. This allowance consists of an amount identified for specific customers and an amount based on overall estimated exposure. Our overall estimated exposure excludes amounts covered by credit insurance and letters of credit.
Inventories
Inventory cost is computed on an adjusted standard basis, which approximates actual cost on an average or first-in, first-out basis. Inventory costs consist of the cost of semiconductors, including wafer fabrication, assembly, testing and packaging, manufacturing support costs, including labor and overhead associated with such purchases, final test yield fallout, and shipping costs, as well as the cost of purchased memory products and other component parts. We charge cost of sales for inventory provisions to write-down our inventory to the lower of cost or net realizable value or for obsolete or excess inventory, and for excess product purchase commitments. Most of our inventory provisions relate to excess quantities of products, based on our inventory levels and future product purchase commitments compared to assumptions about future demand including the impact of regulatory export restrictions on our products. Once inventory has been written-off or written-down, it creates a new cost basis for the inventory that is not subsequently written-up. We record a liability for noncancelable purchase commitments with suppliers for quantities in excess of our future demand forecasts consistent with our valuation of obsolete or excess inventory.
Property and Equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method based on the estimated useful lives of the assets of two to seven years. Once an asset is identified for retirement or disposition, the related cost and accumulated depreciation or amortization are removed, and a gain or loss is recorded. The estimated useful lives of our buildings are up to thirty years. Depreciation expense includes the amortization of assets recorded under finance leases. Leasehold improvements and assets recorded under finance leases are amortized over the shorter of the expected lease term or the estimated useful life of the asset.
Leases
We determine if an arrangement is or contains a lease at inception. Operating leases with lease terms of more than 12 months are included in operating lease assets, accrued and other current liabilities, and long-term operating lease liabilities on our consolidated balance sheet. Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments over the lease term. We combine lease and non-lease components for offices and data centers in determining the operating lease assets and liabilities.
Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using our incremental borrowing rate. Operating lease assets also include initial direct costs incurred and prepaid lease payments, minus any lease incentives. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease costs are recognized on a straight-line basis over the lease term.
Goodwill
We allocate goodwill to reporting units based on the expected benefit from the business combination. Goodwill is subject to our annual impairment test during the fourth quarter of our fiscal year, or earlier if indicators of potential impairment exist. In completing our impairment test, we perform either a qualitative or a quantitative analysis on a reporting unit basis.

Qualitative factors include industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting units. Goodwill impairments were not identified for the periods presented.
Intangible Assets and Other Long-Lived Assets
Intangible assets primarily represent acquired intangible assets including developed technology and customer relationships, as well as rights acquired under technology licenses, patents, and acquired IP. We currently amortize our intangible assets with finite lives over periods ranging from one to twenty years using a method that reflects the pattern
in which the economic benefits of the intangible asset are consumed or otherwise used up or, if that pattern cannot be reliably determined, using a straight-line amortization method.
Long-lived assets, such as property and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. The recoverability of assets or asset groups to be held and used is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group exceeds the estimated fair value of the asset or asset group. Fair value is determined based on the estimated discounted future cash flows expected to be generated by the asset or asset group. Assets and liabilities to be disposed of would be separately presented in the Consolidated Balance Sheet and the assets would be reported at the lower of the carrying amount or fair value less costs to sell, and would no longer be depreciated.
Business Combination
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. We allocate the fair value of the purchase price of an acquisition to the tangible assets acquired, liabilities assumed, and intangible assets acquired, based on their estimated fair values. The excess of the fair value of the purchase price over the fair values of these net tangible and intangible assets acquired is recorded as goodwill. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but our estimates and assumptions are inherently uncertain and subject to refinement. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows, discount rate used to determine the present value of these cash flows and asset lives. These estimates are inherently uncertain and, therefore, actual results may differ from the estimates made. As a result, during the measurement period of up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the measurement period's conclusion or final determination of the fair value of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded to our Consolidated Statements of Income.
Acquisition-related expenses are recognized separately from the business combination and expensed as incurred.
Non-Marketable Equity Securities
Non-marketable equity securities consist of investments in privately-held companies that do not have a readily determinable fair value. These investments are measured at cost minus impairment, if any, and are adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer, or the measurement alternative. Fair value is based upon observable inputs in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. All gains and losses on these investments, realized and unrealized, are recognized in Other income, net on our Consolidated Statements of Income.
We assess whether an impairment loss has occurred on our investments in non-marketable equity securities, accounted for under the measurement alternative based on quantitative and qualitative factors. If any impairment is identified for non-marketable equity securities, we write down the investment to its fair value and record the corresponding charge through Other income, net on our Consolidated Statements of Income.
The Company assesses its investments for significant influence to determine the appropriate method of accounting, including application of the equity method. Equity method investments were not material.
Recently Issued Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the Financial Accounting Standards Board, or FASB, issued a new accounting standard requiring disclosures of certain additional expense information on an annual and interim basis, including, among other items, the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each income statement expense caption, as applicable. We will adopt this standard in the fiscal year 2028 annual report. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements other than additional disclosures.
v3.25.4
Groq
12 Months Ended
Jan. 25, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Groq Groq
In December 2025, we entered into a non‑exclusive license agreement with Groq, Inc., or Groq, for its language processing unit technology and hired certain Groq employees. No customer contracts, existing products, or equity interests were purchased. We recorded $14.4 billion of goodwill and a $2.5 billion developed technology intangible asset, valued using a cost‑to‑recreate methodology with a five‑year useful life. Goodwill, primarily attributable to the workforce and future development of the licensed technology, was recorded in the Compute & Networking reporting unit. Total consideration consists of $13.0 billion paid at closing and $4 billion, inclusive of imputed interest, payable within one year included in Accrued and Other Current Liabilities on our Consolidated Balance Sheets. The goodwill is tax deductible. Pro forma results of operations have not been presented because the effect was not material.
v3.25.4
Stock-Based Compensation
12 Months Ended
Jan. 25, 2026
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
We recognize stock-based compensation expense from grants of restricted stock units, or RSUs, performance stock units, or PSUs, and market-based PSUs, and issuances under our employee stock purchase plan, or ESPP.
Consolidated Statements of Income include stock-based compensation expense as follows:
 Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Cost of revenue$261 $178 $141 
Research and development4,676 3,423 2,532 
Sales, general and administrative1,449 1,136 876 
Total$6,386 $4,737 $3,549 

The following is a summary of equity awards granted under our equity incentive plans:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
(In millions, except per share data)
RSUs, PSUs and Market-based PSUs
Awards granted70 89 140 
Estimated total grant-date fair value$9,389 $7,834 $5,316 
Weighted average grant-date fair value per share$133.97 $87.99 $37.41 
ESPP
Shares purchased13 30 30 
Weighted average price per share$49.13 $17.74 $15.81 
Weighted average grant-date fair value per share$20.75 $8.61 $6.99 
As of January 25, 2026, aggregate unearned stock-based compensation expense was $14.8 billion, which is expected to be recognized over a weighted average period of 2.3 years for RSUs, PSUs, and market-based PSUs, and 0.9 years for ESPP.
The fair value of shares issued under our ESPP has been estimated with the following assumptions:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
(Using the Black-Scholes model)
ESPP
Weighted average expected life (in years)
0.1-2.0
0.1-2.0
0.1-2.0
Risk-free interest rate
3.5%-4.3%
3.6%-5.4%
3.9%-5.5%
Volatility
26%-96%
31%-75%
31%-67%
Dividend yield
 0.03%
0.03%
0.06%
For ESPP shares, the expected term represents the average term from the first day of the offering period to the purchase date. The risk-free interest rate assumption used to value ESPP shares is based upon observed interest rates on Treasury bills appropriate for the expected term. Our expected stock price volatility assumption for ESPP is estimated using historical volatility. For awards granted, we use the dividend yield at grant date. Our RSUs, PSUs, and market-based PSUs are not eligible for cash dividends prior to vesting; therefore, the fair values of RSUs, PSUs, and market-based PSUs are discounted for the dividend yield.
Additionally, for RSUs, PSUs, and market-based PSUs, we estimate expected forfeitures based on our historical forfeitures.
Equity Incentive Program
We grant RSUs, PSUs, market-based PSUs, and stock purchase rights under the following equity incentive plans. In addition, in connection with our acquisitions of various companies, we have assumed certain stock-based awards granted under their stock incentive plans and converted them into our RSUs.
Amended and Restated 2007 Equity Incentive Plan
The NVIDIA Corporation Amended and Restated 2007 Equity Incentive Plan, or the 2007 Plan, authorizes the issuance of incentive stock options, non-statutory stock options, restricted stock, RSUs, stock appreciation rights, performance stock awards, performance cash awards, and other stock-based awards to employees, directors and consultants. Only our employees may receive incentive stock options. We grant RSUs, PSUs and market-based PSUs under the 2007 Plan. As of January 25, 2026, up to 192 million shares of our common stock could be issued pursuant to stock awards granted under the 2007 Plan, and 1.3 billion shares were available for future grants.
Subject to certain exceptions, RSUs vest generally over four years subject to continued service. PSUs vest over four years, subject to continued service and performance conditions. Market-based PSUs vest on approximately the third anniversary of the date of grant subject to market conditions. However, the number of shares subject to both PSUs and market-based PSUs that are eligible to vest is determined by the Compensation Committee based on achievement of pre-determined criteria.
Amended and Restated 2012 Employee Stock Purchase Plan
Employees who participate in the NVIDIA Corporation Amended and Restated 2012 Employee Stock Purchase Plan, or as most recently amended and restated, the 2012 Plan, may have up to 25% of their earnings withheld to purchase shares of common stock. The Board may decrease this percentage at its discretion. Each offering period is about 24 months, divided into four purchase periods of six months. The price of common stock purchased under our 2012 Plan will be equal to 85% of the lower of the fair market value of the common stock on the commencement date of each offering period or the fair market value of the common stock on each purchase date within the offering. As of January 25, 2026, we had 2.2 billion shares reserved for future issuance under the 2012 Plan.
Equity Award Activity
The following is a summary of our equity award transactions under our equity incentive plans: 
RSUs, PSUs and Market-based PSUs Outstanding
 Number of Shares
Weighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balance as of Jan 26, 2025
274 $44.75 
Granted70 $133.97 
Vested(146)$39.14 
Canceled and forfeited(9)$59.29 
Balance as of Jan 25, 2026
189 $81.51 
Vested and expected to vest after Jan 25, 2026
188 $81.15 
As of January 25, 2026 and January 26, 2025, there were 1.3 billion and 1.4 billion shares, respectively, of common stock available for future grants under our equity incentive plans.
The total fair value of RSUs and PSUs, as of their respective vesting dates, during the years ended January 25, 2026, January 26, 2025, and January 28, 2024, was $22.2 billion, $15.1 billion, and $8.2 billion, respectively.
v3.25.4
Net Income Per Share
12 Months Ended
Jan. 25, 2026
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
The following is the basic and diluted net income per share computations for the periods presented:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions, except per share data)
Numerator:   
Net income$120,067 $72,880 $29,760 
Denominator:
Basic weighted average shares24,359 24,555 24,690 
Dilutive impact of outstanding equity awards155 249 250 
Diluted weighted average shares24,514 24,804 24,940 
Net income per share:
Basic (1)$4.93 $2.97 $1.21 
Diluted (2)$4.90 $2.94 $1.19 
Anti-dilutive equity awards excluded from diluted net income per share
41 51 150 
(1)    Net income divided by basic weighted average shares.
(2)    Net income divided by diluted weighted average shares.
v3.25.4
Goodwill
12 Months Ended
Jan. 25, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
As of January 25, 2026, the total carrying amount of goodwill was $20.8 billion, consisting of goodwill balances allocated to our Compute & Networking and Graphics reporting units of $20.5 billion and $370 million, respectively. As of January 26, 2025, the total carrying amount of goodwill was $5.2 billion, consisting of goodwill balances allocated to our Compute & Networking and Graphics reporting units of $4.8 billion and $370 million, respectively. Goodwill increased by $15.6 billion in fiscal year 2026 and was allocated to our Compute & Networking reporting unit. During the fourth quarters of fiscal years 2026, 2025, and 2024, we completed our annual qualitative impairment tests and concluded that goodwill was not impaired.
v3.25.4
Amortizable Intangible Assets
12 Months Ended
Jan. 25, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets Amortizable Intangible Assets
The components of our amortizable intangible assets are as follows:
 Jan 25, 2026Jan 26, 2025
 Gross
Carrying
Amount
Accumulated
Amortization
Net 
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net 
Carrying
Amount
 (In millions)
Acquisition-related intangible assets$5,656 $(2,580)$3,076 $2,900 $(2,264)$636 
Patents and licensed technology528 (298)230 449 (278)171 
Total intangible assets$6,184 $(2,878)$3,306 $3,349 $(2,542)$807 
Amortization expense associated with intangible assets for fiscal years 2026, 2025, and 2024 was $488 million, $593 million, and $614 million, respectively.
The following table outlines the estimated future amortization expense related to the net carrying amount of intangible assets as of January 25, 2026:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2027$923 
2028729 
2029592 
2030511 
2031468 
2032 and thereafter83 
Total$3,306 
v3.25.4
Cash Equivalents and Marketable Securities
12 Months Ended
Jan. 25, 2026
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities
The fair values of our financial assets are determined using quoted market prices of identical assets or market prices of similar assets from active markets. We review fair value classification on a quarterly basis. The following is a summary of cash equivalents and marketable securities:
 Jan 25, 2026
Pricing Category
Cost or Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
Cash EquivalentsMarketable Securities
Other Assets
 (In millions)
Debt securities issued by the U.S. TreasuryLevel 2$21,635 $77 $(3)$21,709 $— $21,709 $— 
Corporate debt securitiesLevel 215,410 92 (3)15,499 345 15,154 — 
Debt securities issued by U.S. government agenciesLevel 22,157 — 2,161 — 2,161 — 
Certificates of depositLevel 2110 — — 110 110 — — 
Foreign government bondsLevel 240 — 41 — 41 — 
Money market fundsLevel 17,830 — — 7,830 7,830 — — 
Publicly-held equity securities (1) (2)
Level 117,726 — 12,886 4,840 
Total$47,182 $174 $(6)$65,076 $8,285 $51,951 $4,840 
(1)    In the first quarter of fiscal year 2026, one investment was reclassified from non-marketable equity securities to marketable securities following public market trading. The balance as of January 25, 2026 includes $10.5 billion of investments which are subject to short-term lock-up restrictions on the ability to sell.
(2)    The long-term portion of marketable equity securities, which are subject to lock-up restrictions through December 2027 of $4.8 billion as of January 25, 2026, is included in other assets.
Publicly-held equity securities are subject to market price volatility. Net unrealized gains on investments in publicly-held equity securities held at period end were $6.6 billion for fiscal year 2026. Net unrealized gains on investments in publicly-held equity securities held at period end were not significant for fiscal years 2025 and 2024.
Net realized gains on investments in publicly-held equity securities sold were not significant for fiscal years 2026, 2025, and 2024, reflecting the difference between the sale proceeds and the carrying value of the equity securities at the beginning of the period or the purchase date, if later.
Jan 26, 2025
Pricing CategoryCost or Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
Cash EquivalentsMarketable Securities
(In millions)
Corporate debt securitiesLevel 2$18,504 $51 $(29)$18,526 $2,071 $16,455 
Debt securities issued by the U.S. TreasuryLevel 216,749 42 (22)16,769 1,801 14,968 
Debt securities issued by U.S. government agenciesLevel 22,775 (5)2,777 — 2,777 
Foreign government bondsLevel 2177 — — 177 137 40 
Certificates of depositLevel 297 — — 97 97 — 
Money market fundsLevel 13,760 — — 3,760 3,760 — 
Publicly-held equity securities
Level 1381 — 381 
Total$42,062 $100 $(56)$42,487 $7,866 $34,621 
The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:
Jan 25, 2026Jan 26, 2025
 Less than 12 MonthsLess than 12 Months
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$10,666 $(3)$6,315 $(22)
Corporate debt securities1,332 (3)5,291 (29)
Debt securities issued by U.S. government agencies1,134 — 816 (5)
Total$13,132 $(6)$12,422 $(56)
Gross unrealized losses related to debt securities in a continuous loss position of twelve months or greater as of January 25, 2026 and January 26, 2025 were not significant. Gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates.
The estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.
 Jan 25, 2026
 (In millions)
Less than one year$20,427 
Due in 1 - 5 years19,093 
Total$39,520 
v3.25.4
Non-marketable Equity Securities
12 Months Ended
Jan. 25, 2026
Fair Value Disclosures [Abstract]  
Non-marketable Equity Securities Non-marketable Equity Securities
Our non-marketable equity securities are valued under the measurement alternative applying valuation methods based on observable transactions for similar investments of the same issuer and unobservable inputs such as volatility, expected
time to liquidity, risk free rate and security-specific rights and obligations. Gains and losses on these investments, realized and unrealized, are recognized in Other income, net on our Consolidated Statements of Income.
Adjustments to the carrying value of our non-marketable equity securities during fiscal years 2026 and 2025 were as follows:
Year Ended
Jan 25, 2026Jan 26, 2025
(In millions)
Balance at beginning of period$3,387 $1,321 
Adjustments related to non-marketable equity securities:
Net additions17,444 1,309 
Unrealized gains2,369 816 
Reclassification (1)
(848)— 
Impairments and unrealized losses(101)(59)
Balance at end of period$22,251 $3,387 
(1) Represents reclassifications from non-marketable equity securities to marketable securities following public market trading.
Non-marketable equity securities had cumulative gross unrealized gains of $2.7 billion and $1.1 billion, and cumulative gross unrealized losses and impairments of $176 million and $105 million on securities held as of January 25, 2026 and January 26, 2025, respectively.
v3.25.4
Balance Sheet Components
12 Months Ended
Jan. 25, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
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. Three direct customers accounted for 25%, 18%, and 13% of our accounts receivable balance as of January 25, 2026. Two direct customers accounted for 17% and 16% of our accounts receivable balance as of January 26, 2025.
Certain balance sheet components are as follows:
 Jan 25, 2026Jan 26, 2025
Inventories:
(In millions)
Raw materials$3,807 $3,408 
Work in process8,822 3,399 
Finished goods8,774 3,273 
Total inventories (1)$21,403 $10,080 
(1)    In fiscal years 2026 and 2025, we recorded inventory provisions of $4.0 billion and $1.6 billion, respectively, in cost of revenue.
 Jan 25, 2026Jan 26, 2025Estimated
Useful Life
Property and Equipment:
(In millions)(In years)
Land$777 $511 (A)
Buildings, leasehold improvements, and furniture2,891 2,076 (B)
Equipment, compute hardware, and software
12,619 7,568 
2-7
Construction in process683 529 (C)
Total property and equipment, gross16,970 10,684  
Accumulated depreciation and amortization(6,587)(4,401) 
Total property and equipment, net$10,383 $6,283  
(A)Land is a non-depreciable asset.
(B)The estimated useful lives of our buildings are up to thirty years. Leasehold improvements and finance leases are amortized based on the lesser of either the asset’s estimated useful life or the expected remaining lease term.
(C)Construction in process represents assets that are not available for their intended use.
Depreciation expense for fiscal years 2026, 2025, and 2024 was $2.4 billion, $1.3 billion, and $894 million, respectively.
Accumulated amortization of leasehold improvements and finance leases was $519 million and $410 million as of January 25, 2026 and January 26, 2025, respectively.
Property, equipment and intangible assets acquired but not paid for during fiscal years 2026, 2025, and 2024 were $820 million, $525 million, and $170 million, respectively.
 Jan 25, 2026Jan 26, 2025
Accrued and Other Current Liabilities:
(In millions)
Customer program accruals$5,318 $4,880 
Accrued purchase consideration
3,921 
Product warranty
2,807 1,290 
Excess inventory purchase obligations (1)2,739 2,095 
Taxes payable2,669 881 
Deferred revenue (2)1,379 837 
Accrued payroll and related expenses1,146 848 
Other1,373 897 
Total accrued and other current liabilities$21,352 $11,737 
In fiscal years 2026 and 2025, we recorded an expense of approximately $3.2 billion and $2.0 billion, respectively, in cost of revenue.Includes customer advances and unearned revenue related to hardware and software support, cloud services, and license and development arrangements. The balance as of January 25, 2026 and January 26, 2025 included $160 million and $81 million of customer advances, respectively.
 Jan 25, 2026Jan 26, 2025
Other Long-Term Liabilities:
(In millions)
Income tax payable (1)$3,958 $2,188 
Deferred income tax1,774 886 
Deferred revenue (2)1,193 976 
Other381 195 
Total other long-term liabilities$7,306 $4,245 
(1)Primarily comprised of unrecognized tax benefits and related interest and penalties.
(2)Includes unearned revenue related to hardware and software support and cloud services.
Deferred Revenue
The following table shows the changes in short- and long-term deferred revenue during fiscal years 2026 and 2025:
 Jan 25, 2026Jan 26, 2025
(In millions)
Balance at beginning of period$1,813 $1,337 
Deferred revenue additions (1)11,137 5,083 
Revenue recognized (2)(10,378)(4,607)
Balance at end of period$2,572 $1,813 
(1)    Includes $9.0 billion and $3.6 billion of customer advances for fiscal years 2026 and 2025, respectively.
(2)    Includes $8.9 billion and $3.7 billion related to customer advances for fiscal years 2026 and 2025, respectively.
We recognized revenue of $974 million and $729 million in fiscal years 2026 and 2025, respectively, that were included in the prior year end deferred revenue balance.
As of January 25, 2026, revenue related to remaining performance obligations from contracts greater than one year in length was $2.3 billion, which includes $1.9 billion from deferred revenue and $390 million which has not yet been billed nor recognized as revenue. Approximately 42% of revenue from contracts greater than one year in length will be recognized over the next twelve months.
v3.25.4
Derivative Financial Instruments
12 Months Ended
Jan. 25, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Foreign Currency Derivatives
We utilize foreign currency forward contracts to mitigate the impact of foreign currency exchange rate movements on our operating expenses. The foreign currency forward contracts for operating expenses are designated as accounting hedges. Gains or losses on the contracts are recorded in accumulated other comprehensive income or loss and reclassified to operating expense when the related operating expenses are recognized in earnings. In fiscal years 2026 and 2025, the impact of foreign currency forward contracts designated as accounting hedges on other comprehensive income or loss was not significant and all such instruments were determined to be highly effective.
We also entered into foreign currency forward contracts mitigating the impact of foreign currency movements on monetary assets and liabilities. For our foreign currency contracts for assets and liabilities, the change in fair value of these non-designated contracts was recorded in other income or expense and offsets the change in fair value of the hedged foreign currency denominated monetary assets and liabilities, which was also recorded in other income or expense.
The table below presents the notional value of our foreign currency contracts outstanding:
Jan 25, 2026Jan 26, 2025
 (In millions)
Designated as accounting hedges$1,765 $1,424 
Not designated as accounting hedges$2,332 $1,297 
The unrealized gains and losses or fair value of our foreign currency contracts were not significant as of January 25, 2026 and January 26, 2025.
As of January 25, 2026, all foreign currency contracts mature within 18 months. The expected realized gains and losses deferred into accumulated other comprehensive income or loss related to foreign currency forward contracts within the next twelve months were not significant.
Facility Lease Guarantees
In fiscal year 2026, we entered into agreements to guarantee partners’ facility lease obligations in the event of their default in exchange for warrants. The maximum gross exposure under all agreements is $3.5 billion, which is reduced as the partners make payments to the lessors over terms ranging from 5 to 7 years. The partners have placed $712 million in escrow to mitigate our potential exposure. The guarantees, classified as credit derivatives with changes in fair value recognized in Other income and expense, were not material.
v3.25.4
Debt
12 Months Ended
Jan. 25, 2026
Debt Disclosure [Abstract]  
Debt Debt
 Expected
Remaining Term (years)
Effective
Interest Rate
Jan 25, 2026Jan 26, 2025
   (In millions)
3.20% Notes Due 2026
0.63.31%1,000 1,000 
1.55% Notes Due 2028
2.41.64%1,250 1,250 
2.85% Notes Due 2030
4.22.93%1,500 1,500 
2.00% Notes Due 2031
5.42.09%1,250 1,250 
3.50% Notes Due 2040
14.23.54%1,000 1,000 
3.50% Notes Due 2050
24.23.54%2,000 2,000 
3.70% Notes Due 2060
34.23.73%500 500 
Unamortized debt discount and issuance costs  (32)(37)
Net carrying amount  8,468 8,463 
Less short-term portion(999)— 
Total long-term portion$7,469 $8,463 
As of January 25, 2026 and January 26, 2025, the estimated fair value of debt was $7.5 billion and $7.2 billion, respectively. The estimated fair values are based on Level 2 inputs.
Our notes are unsecured senior obligations. Existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium. The maturity of the notes is calendar year.
As of January 25, 2026, we complied with the required covenants, which are non-financial in nature, under the outstanding notes.
In January 2026, we increased the size of our commercial paper program from $575 million to $25.0 billion. As of January 25, 2026, no commercial paper was outstanding.
v3.25.4
Commitments and Contingencies
12 Months Ended
Jan. 25, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Commitments
Manufacturing, supply, and capacity commitments reflect datacenter-scale production and longer future ordering horizons across current and future product architectures. We enter into agreements with our supply vendors that allow them to procure inventory based upon our defined criteria, and in certain instances, these agreements are cancellable, able to be rescheduled, or adjustable for our business needs prior to placing firm orders. Changes to these agreements may result in additional costs. As of January 25, 2026, these commitments were $95.2 billion, of which substantially all will be paid through fiscal year 2027.
Multi-year cloud service agreement commitments as of January 25, 2026, were $27 billion, for which $7 billion, $6 billion, $5 billion, $5 billion, $2 billion, and $2 billion will be paid in fiscal years 2027, 2028, 2029, 2030, 2031, and 2032 and thereafter, respectively. Some cloud service capacity may be reduced, terminated or sold to others by the CSPs, in which case our commitments will be reduced. We expect cloud service agreements to be used to support our research and development efforts.
Investment commitments are $11.4 billion as of January 25, 2026, subject to certain contingencies, of which we expect substantially all will be made through fiscal year 2027.
Other commitments were $3.4 billion as of January 25, 2026, of which the majority will be paid through fiscal year 2027.
Accrual for Product Warranty Liabilities
The estimated amount of product warranty liabilities was $2.8 billion and $1.3 billion as of January 25, 2026 and January 26, 2025, respectively. The estimated product returns and product warranty activity consisted of the following:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
(In millions)
Balance at beginning of period$1,290 $306 $82 
Additions2,474 1,203 278 
Utilization(957)(219)(54)
Balance at end of period$2,807 $1,290 $306 
In fiscal years 2026, 2025, and 2024 the additions in product warranty liabilities primarily related to our Compute & Networking segment.
We have provided indemnities for matters such as tax, product, and employee liabilities. We have included intellectual property indemnification provisions in our technology-related agreements with third parties. Maximum potential future payments cannot be estimated because many of these agreements do not have a maximum stated liability. We have not recorded any liability in our Consolidated Financial Statements for such indemnifications.
Litigation
Securities Class Action and Derivative Lawsuits
The plaintiffs in the putative securities class action lawsuit, captioned 4:18-cv-07669-HSG, initially filed on December 21, 2018 in the United States District Court for the Northern District of California, and titled In Re NVIDIA Corporation Securities Litigation, filed an amended complaint on May 13, 2020. The amended complaint asserted that NVIDIA and certain NVIDIA executives violated Section 10(b) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and SEC Rule 10b-5, by making materially false or misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand between May 10, 2017 and November 14, 2018. Plaintiffs also alleged that the NVIDIA executives who they named as defendants violated Section 20(a) of the Exchange Act. Plaintiffs sought class certification, an award of unspecified compensatory damages, an award of reasonable costs and expenses, including attorneys’ fees and expert fees, and further relief as the Court may deem just and proper. On March 2, 2021, the district court granted NVIDIA’s motion to dismiss the complaint without leave to amend, entered judgment in favor of NVIDIA and closed the case. On March 30, 2021, plaintiffs filed an appeal from judgment in the United States Court of Appeals for the Ninth Circuit, case number 21-15604. On August 25, 2023, a majority of a three-judge Ninth Circuit panel affirmed in part and reversed in part the district court’s dismissal of the case, with a third judge dissenting on the basis that the district court did not err in dismissing the case. On November 15, 2023, the Ninth Circuit denied NVIDIA’s petition for rehearing en banc of the Ninth Circuit panel’s majority decision to reverse in part the dismissal of the case, which NVIDIA had filed on October 10, 2023. On December 5, 2023, the Ninth Circuit granted NVIDIA’s motion to stay the mandate pending NVIDIA’s petition for a writ of certiorari in the Supreme Court of the United States and the Supreme Court’s final disposition of the matter. NVIDIA filed a petition for a writ of certiorari on March 4, 2024. On June 17, 2024, the Supreme Court of the United States granted NVIDIA’s petition for a writ of certiorari. After briefing and argument, the Supreme Court dismissed NVIDIA’s writ of certiorari as improvidently granted on December 11, 2024, and issued judgment on January 13, 2025. On February 20, 2025, the Ninth Circuit’s judgment, entered August 25, 2023 and corrected August 28, 2023, took effect, and the case was remanded to the district court for further proceedings.
The putative derivative lawsuit pending in the United States District Court for the Northern District of California, captioned 4:19-cv-00341-HSG, initially filed January 18, 2019 and titled In re NVIDIA Corporation Consolidated Derivative Litigation, was stayed pending resolution of the plaintiffs’ appeal in the In Re NVIDIA Corporation Securities Litigation action. On February 22, 2022, the court administratively closed the case, but stated that it would reopen the case once the appeal in the In Re NVIDIA Corporation Securities Litigation action is resolved. The case has not yet been reopened by the court. The lawsuit asserts claims, purportedly on behalf of us, against certain officers and directors of the Company for breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of Sections 14(a), 10(b), and 20(a) of the Exchange Act based on the dissemination of allegedly false and misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand. The plaintiffs are seeking unspecified damages and other relief, including reforms and improvements to NVIDIA’s corporate governance and internal procedures.
The putative derivative actions initially filed September 24, 2019 and pending in the United States District Court for the District of Delaware, Lipchitz v. Huang, et al. (Case No. 1:19-cv-01795-MN) and Nelson v. Huang, et. al. (Case No. 1:19-cv-01798-MN), were stayed pending resolution of the plaintiffs’ appeal in the In Re NVIDIA Corporation Securities
Litigation action. On March 7, 2025, after the Supreme Court issued its judgment dismissing the Company’s petition for writ of certiorari as improvidently granted in the In Re NVIDIA Securities Litigation action, the district court adopted the parties' stipulation to extend the stay until the final and complete resolution of the In Re NVIDIA Corporation Securities Litigation action. The lawsuits assert claims, purportedly on behalf of us, against certain officers and directors of the Company for breach of fiduciary duty, unjust enrichment, insider trading, misappropriation of information, corporate waste and violations of Sections 14(a), 10(b), and 20(a) of the Exchange Act based on the dissemination of allegedly false, and misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand. The plaintiffs seek unspecified damages and other relief, including disgorgement of profits from the sale of NVIDIA stock and unspecified corporate governance measures.
Another putative derivative action was filed on October 30, 2023 in the Court of Chancery of the State of Delaware, captioned Horanic v. Huang, et al. (Case No. 2023-1096-KSJM). This lawsuit asserts claims, purportedly on behalf of us, against certain officers and directors of the Company for breach of fiduciary duty and insider trading based on the dissemination of allegedly false and misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand. The plaintiffs seek unspecified damages and other relief, including disgorgement of profits from the sale of NVIDIA stock and reform of unspecified corporate governance measures. On August 11, 2025, the court granted the parties’ stipulation to voluntarily dismiss with prejudice plaintiff City of Westland Police and Fire Retirement System. This derivative matter is stayed pending the final resolution of In Re NVIDIA Corporation Securities Litigation action.
Accounting for Loss Contingencies
As of January 25, 2026, there are no accrued contingent liabilities associated with the legal proceedings described above based on our belief that liabilities, while reasonably possible, are not probable. Further, any possible loss or range of loss in these matters cannot be reasonably estimated at this time. We are engaged in legal actions not described above arising in the ordinary course of business, as well as regulatory and government inquiries and investigations, and, while there can be no assurance of favorable outcomes, we believe that the ultimate outcome of these matters will not have a material adverse effect on our operating results, liquidity or financial position. These matters are subject to inherent uncertainties and if the ultimate outcome is unfavorable, there exists the possibility of a material adverse impact on our operating results, liquidity or financial position in the period the outcome becomes estimable and probable.
v3.25.4
Income Taxes
12 Months Ended
Jan. 25, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The FASB issued a new accounting standard which includes new and updated income tax disclosures, including disaggregation of information in the rate reconciliation and income taxes paid, which we adopted on a prospective basis for the year ending January 25, 2026.
The Income tax expense applicable to income before income taxes consists of the following:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Current income taxes:   
Federal$19,039 $14,032 $5,710 
State1,218 892 335 
Foreign2,550 699 502 
Total current22,807 15,623 6,547 
Deferred income taxes:
Federal(1,364)(4,515)(2,499)
State(885)(242)(206)
Foreign825 280 216 
Total deferred(1,424)(4,477)(2,489)
Income tax expense$21,383 $11,146 $4,058 
Income before income tax consists of the following:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
U.S.$123,181 $77,456 $29,495 
Foreign18,269 6,570 4,323 
Income before income tax$141,450 $84,026 $33,818 
The income tax expense (benefit) differs from the amount computed by applying the U.S. federal statutory rate of 21.0% to income before income taxes for the fiscal year ended January 25, 2026 as follows:
 Year Ended
 Jan 25, 2026
 (In millions, except percentages)
US Federal Statutory Tax Rate
$29,704 21.0 %

State and Local Income Taxes, Net of Federal Income Tax Effect (1)258 0.2 %
Foreign tax effects
Israel
Reduced statutory tax rate on qualifying income
(3,064)(2.2)%
Other
1,606 1.2 %
Other foreign jurisdictions
741 0.5 %
Effect of cross-border tax laws
Foreign-derived deduction eligible income(4,208)(3.0)%
Other
(142)(0.1)%
Tax credits(1,933)(1.4)%
Nontaxable or nondeductible items
Stock-based compensation(1,475)(1.0)%
Other
29 — %
Other (2)
(133)(0.1)%
Income tax expense$21,383 15.1 %
(1) State taxes in California, Tennessee, Arizona, and Illinois made up the majority of the tax effect in fiscal year 2026.
(2) Includes the tax effects of enactment of new tax laws, change in valuation allowance, and change in unrecognized tax benefits.
The income tax expense (benefit) differs from the amount computed by applying the U.S. federal statutory rate of 21% to income before income taxes for fiscal years ended January 26, 2025 and January 28, 2024 as follows:
Year Ended
Jan 26, 2025Jan 28, 2024
(In millions, except percentages)
Tax expense computed at federal statutory rate$17,645 21.0 %$7,102 21.0 %
Expense (benefit) resulting from:
State income taxes, net of federal tax effect554 0.7 %120 0.4 %
Foreign-derived deduction eligible income(2,976)(3.5)%(1,408)(4.2)%
Stock-based compensation(2,097)(2.5)%(741)(2.2)%
U.S. federal research and development tax credit(990)(1.2)%(431)(1.3)%
Foreign tax rate differential(984)(1.2)%(467)(1.4)%
Other(6)— %(117)(0.3)%
Income tax expense
$11,146 13.3 %$4,058 12.0 %
In July 2025, the OBBBA was enacted into law and contains several changes to key U.S. federal income tax laws. We have recognized the tax effects of currently effective OBBBA provisions in our results for fiscal year 2026.
The amount of cash paid for income taxes (net of refunds) for the fiscal year ended January 25, 2026 is as follows:
Year Ended
 Jan 25, 2026
 (In millions)
Federal
$16,755 
State
California
1,049 
Other
1,041 
Foreign
Israel
1,287 
Other
156 
Total income taxes paid, net of refunds
$20,288 
The tax effect of temporary differences that gives rise to significant portions of the deferred tax assets and liabilities are presented below:
 Jan 25, 2026Jan 26, 2025
 (In millions)
Deferred tax assets: 
Capitalized research and development expenditure$5,436 $6,256 
Net controlled foreign corporation tested income deferred tax assets
5,389 2,820 
Accruals and reserves, not currently deductible for tax purposes3,644 2,058 
Research and other tax credit carryforwards718 759 
Operating lease liabilities554 299 
Net operating loss and capital loss carryforwards443 456 
Other deferred tax assets679 566 
Gross deferred tax assets16,863 13,214 
Less valuation allowance(768)(1,610)
Total deferred tax assets16,095 11,604 
Deferred tax liabilities:
Equity investments(2,227)(264)
Unremitted earnings of foreign subsidiaries(1,813)(891)
Operating lease assets(533)(286)
Acquired intangibles(38)(70)
Gross deferred tax liabilities(4,611)(1,511)
Net deferred tax asset (1)$11,484 $10,093 
(1)    Net deferred tax asset includes long-term deferred tax assets of $13.3 billion and $11.0 billion and long-term deferred tax liabilities of $1.8 billion and $886 million for fiscal years 2026 and 2025, respectively. Long-term deferred tax liabilities are included in other long-term liabilities on our Consolidated Balance Sheets.
As of January 25, 2026, we intend to indefinitely reinvest approximately $1.4 billion of cumulative undistributed earnings held by certain subsidiaries. We have not provided the amount of unrecognized deferred tax liabilities for temporary differences related to these investments as the determination of such amount is not practicable.
As of January 25, 2026 and January 26, 2025, we had a valuation allowance of $768 million and $1.6 billion, respectively, related to capital loss carryforwards, and certain other deferred tax assets that management determined are not likely to be realized due, in part, to jurisdictional projections of future taxable income, including capital gains. To the extent realization of the deferred tax assets becomes more-likely-than-not, we would recognize such deferred tax assets as income tax benefits during the period.
As of January 25, 2026, based on recent jurisdictional taxable income and expected future earnings, we concluded certain state deferred tax assets are more likely than not realizable and released $711 million of valuation allowance.
As of January 25, 2026, we had U.S. federal, state and foreign net operating loss carryforwards of $747 million, $427 million and $503 million, respectively. The federal and state carryforwards will begin to expire in fiscal year 2027. The foreign net operating loss carryforwards may be carried forward indefinitely. As of January 25, 2026, we had federal research tax credit carryforwards of $56 million, before the impact of uncertain tax positions, that will begin to expire in fiscal year 2027. We have state research tax credit carryforwards of $1.4 billion, before the impact of uncertain tax positions, of which $1.3 billion is attributable to the State of California and may be carried over indefinitely and $132 million is attributable to various other states and will begin to expire in fiscal year 2028. As of January 25, 2026, we had federal capital loss carryforwards of $902 million that will begin to expire in fiscal year 2028.
Our tax attributes remain subject to audit and may be adjusted for changes or modification in tax laws, other authoritative interpretations thereof, or other facts and circumstances. Utilization of tax attributes may also be subject to limitations due to ownership changes and other limitations provided by the Internal Revenue Code and similar state and foreign tax provisions. If any such limitations apply, the tax attributes may expire or be denied before utilization.
A reconciliation of gross unrecognized tax benefits is as follows:
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Balance at beginning of period$2,861 $1,670 $1,238 
Increases in tax positions for current year1,959 1,268 616 
Increases in tax positions for prior years57 48 87 
Lapse in statute of limitations(224)(27)(19)
Decreases in tax positions for prior years(157)(88)(148)
Settlements(76)(10)(104)
Balance at end of period$4,420 $2,861 $1,670 
Included in the balance of unrecognized tax benefits as of January 25, 2026 are $3.7 billion of tax benefits that would affect our effective tax rate if recognized.
We classify an unrecognized tax benefit as a current liability, or amount refundable, to the extent that we anticipate payment or receipt of cash for income taxes within one year. The amount is classified as a long-term liability, or long-term amount refundable, if we anticipate payment or receipt of cash for income taxes during a period beyond a year.
We include interest and penalties related to unrecognized tax benefits as a component of income tax expense. We recognized net interest and penalties related to unrecognized tax benefits in the income tax expense line of our consolidated statements of income of $103 million, $92 million, and $42 million during fiscal years 2026, 2025, and 2024, respectively. As of January 25, 2026 and January 26, 2025, we have accrued $374 million and $251 million, respectively, for the payment of interest and penalties related to unrecognized tax benefits, which is not included as a component of our gross unrecognized tax benefits.
We are subject to examination by taxing authorities both in the United States and other countries. As of January 25, 2026, the significant tax jurisdictions that may be subject to examination include the United States for fiscal years after 2022, as well as Canada, China, Germany, Hong Kong, India, Israel, Italy, and Taiwan for fiscal years 2014 through 2025. As of January 25, 2026, the significant tax jurisdictions for which we are currently under examination include the United States, Germany, Hong Kong, India, Israel, and Taiwan for fiscal years 2014 through 2025.
v3.25.4
Shareholders’ Equity
12 Months Ended
Jan. 25, 2026
Equity [Abstract]  
Shareholders’ Equity Shareholders’ Equity
Capital Return Program
On August 26, 2025, our Board of Directors approved an additional $60.0 billion in share repurchase authorization, without expiration. In fiscal years 2026 and 2025, we repurchased 282 million and 310 million shares of our common stock for $40.4 billion and $34.0 billion, respectively. As of January 25, 2026, we were authorized, subject to certain specifications, to repurchase up to $58.5 billion of our common stock.
From January 26, 2026 through February 20, 2026, we repurchased 8 million shares for $1.5 billion pursuant to a pre-established trading plan.
In fiscal years 2026, 2025, and 2024, we paid cash dividends to our shareholders of $974 million, $834 million, and $395 million, respectively. The payment of future cash dividends is subject to our Board of Directors' continuing determination that the declaration of dividends is in the best interests of our shareholders.
v3.25.4
Employee Retirement Plans
12 Months Ended
Jan. 25, 2026
Retirement Benefits [Abstract]  
Employee Retirement Plans Employee Retirement Plans
We provide tax-qualified defined contribution plans to eligible employees in the U.S. and certain other countries. Our contribution expense for fiscal years 2026, 2025, and 2024 was $442 million, $314 million, and $255 million, respectively.
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 
v3.25.4
Leases
12 Months Ended
Jan. 25, 2026
Leases [Abstract]  
Leases Leases
Our lease obligations primarily consist of operating leases for our offices and data centers, with lease periods expiring between fiscal years 2027 and 2041.
Future minimum lease obligations under our non-cancelable lease agreements as of January 25, 2026 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2027$493 
2028485 
2029457 
2030381 
2031314 
2032 and thereafter1,494 
Total3,624 
Less imputed interest680 
Present value of net future minimum lease payments2,944 
Less short-term operating lease liabilities372 
Long-term operating lease liabilities$2,572 
Between fiscal years 2027 and 2030, we expect to commence leases with future obligations of $22.7 billion, primarily data center leases to support our research and development efforts, with lease terms of 1.8 to 20 years.
Operating lease costs for fiscal years 2026, 2025, and 2024 were $462 million, $356 million, and $269 million, respectively. Short-term and variable lease costs for fiscal years 2026, 2025, and 2024 were not significant.
Other information related to leases was as follows:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$428 $313 $286 
Operating lease assets obtained in exchange for lease obligations$1,439 $877 $531 
As of January 25, 2026, our operating leases have a weighted average remaining lease term of 8.8 years and a weighted average discount rate of 4.38%. As of January 26, 2025, our operating leases had a weighted average remaining lease term of 6.5 years and a weighted average discount rate of 4.16%.
v3.25.4
Schedule II - Valuation and Qualifying Accounts
12 Months Ended
Jan. 25, 2026
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Schedule II – Valuation and Qualifying Accounts
DescriptionBalance at
Beginning of Period
Additions Deductions Balance at
End of Period
 (In millions)
Fiscal year 2026
      
Allowance for doubtful accounts$$— (1)$— (1)$
Sales return allowance$82 $188 (2)$(100)(4)$170 
Deferred tax valuation allowance$1,610 $31 (3)$(873)(3)$768 
Fiscal year 2025
      
Allowance for doubtful accounts$$— (1)$— (1)$
Sales return allowance$109 $151 (2)$(178)(4)$82 
Deferred tax valuation allowance$1,552 $58 (3)$— (3)$1,610 
Fiscal year 2024
     
Allowance for doubtful accounts$$— (1)$— (1)$
Sales return allowance$26 $213 (2)$(130)(4)$109 
Deferred tax valuation allowance$1,484 $162 (3)$(94)(3)$1,552 
(1)Additions represent either expense or acquired balances and deductions represent write-offs.
(2)Additions represent estimated product returns charged as a reduction to revenue or an acquired balance.
(3)Additional valuation allowance on deferred tax assets not likely to be realized. Additions represent additional valuation allowance on certain state and other deferred tax assets. Deductions mainly represent the release of valuation allowance on certain state deferred tax assets. Refer to Note 13 of the Notes to the Consolidated Financial Statements in Part IV, Item 15 of this Annual Report on Form 10-K for additional information.
(4)Represents sales returns.
v3.25.4
Insider Trading Arrangements
3 Months Ended
Jan. 25, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
The following members of our Board of Directors and/or officers adopted, modified or terminated a trading arrangement that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), or a Rule 10b5-1 Trading Arrangement:
NameTitle of Director or OfficerActionDateTotal Shares of Common Stock to be SoldExpiration Date
John O. Dabiri
Director
Adoption 12/10/2025
3,984*
12/7/2026
Colette M. Kress
Executive Vice President and Chief Financial Officer
Adoption
12/18/2025500,0003/23/2027
*Estimated assuming our closing stock price as of January 23, 2026. The number of shares is based on an estimate because the plan specifies a formulaic dollar amount of shares to be sold.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
John O. Dabiri [Member]  
Trading Arrangements, by Individual  
Name John O. Dabiri
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date 12/10/2025
Expiration Date 12/7/2026
Arrangement Duration 362 days
Aggregate Available 3,984
Colette M. Kress [Member]  
Trading Arrangements, by Individual  
Name Colette M. Kress
Title Executive Vice President and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date 12/18/2025
Expiration Date 3/23/2027
Arrangement Duration 460 days
Aggregate Available 500,000
v3.25.4
Insider Trading Policies and Procedures
12 Months Ended
Jan. 25, 2026
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
12 Months Ended
Jan. 25, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have in place certain infrastructure, systems, policies, and procedures that are designed to proactively prevent or reduce the impact of, and reactively address circumstances that arise when, events such as a cybersecurity incident occur. These include processes for assessing, identifying, and managing material risks from cybersecurity threats. Our information security management programs generally follow certain processes outlined in frameworks such as the ISO 27001 international standard for information security management and we evaluate and evolve our security measures as appropriate. We consult with external parties, such as cybersecurity firms and risk management and governance experts, on risk management and strategy.
Identifying, assessing, and managing cybersecurity risk is integrated into our overall risk management systems and processes, and we have in place cybersecurity and data privacy training and policies designed to (a) respond to new requirements in global privacy and cybersecurity laws and (b) prevent, detect, respond to, mitigate and recover from identified and significant cybersecurity threats.
We also have a vendor risk assessment process consisting of, depending on the nature and sensitivity of the supplier and data they process on our behalf, the distribution and review of supplier questionnaires designed to help us evaluate cybersecurity risks that we may encounter when working with third parties that have access to confidential and other sensitive company information. We take steps to review that such vendors have implemented data privacy and security controls that help mitigate the cybersecurity risks associated with these vendors, depending on the nature and sensitivity of the supplier and data they process on our behalf. We routinely assess our high-risk suppliers’ conformance to industry standards (e.g., ISO 27001, ISO 28001, and C-TPAT), and we evaluate them for additional information, product, and physical security requirements.
Refer to “Item 1A. Risk factors” in this annual report on Form 10-K for additional information about cybersecurity-related risks.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Identifying, assessing, and managing cybersecurity risk is integrated into our overall risk management systems and processes, and we have in place cybersecurity and data privacy training and policies designed to (a) respond to new requirements in global privacy and cybersecurity laws and (b) prevent, detect, respond to, mitigate and recover from identified and significant cybersecurity threats.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Information security matters, including managing and assessing risks from cybersecurity threats, remain under the oversight of the Company’s Board of Directors, or the Board. The Audit Committee of the Board, or the Audit Committee, also reviews the adequacy and effectiveness of the Company’s information security policies and practices and the internal controls regarding information security risks. The Audit Committee receives regular information security updates from management, including our Chief Security Officer and members of our security team. The Board also receives annual reports on information security matters from our Chief Security Officer and members of our security team.
Our security efforts are managed by a team of executive cybersecurity, IT, engineering, operations, and legal professionals. We have established a cross-functional leadership team, consisting of executive-level leaders, that meets regularly to review cybersecurity matters and evaluate emerging threats. With oversight and guidance provided by the cross-functional leadership team, our information security teams refine our practices to address emerging security risks and changes in regulations. Our executive-level leadership team also participates in cybersecurity incident response efforts by engaging with the incident response team and helping direct the company’s response to and assessment of certain cybersecurity incidents.
We have designated a Chief Security Officer, reporting to our Senior Vice President of Software Engineering, to oversee the identification, assessment, and management of material cybersecurity risks. Our Chief Security Officer’s cybersecurity expertise includes over 18 years of combined government and private sector assignments.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Information security matters, including managing and assessing risks from cybersecurity threats, remain under the oversight of the Company’s Board of Directors, or the Board. The Audit Committee of the Board, or the Audit Committee, also reviews the adequacy and effectiveness of the Company’s information security policies and practices and the internal controls regarding information security risks.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee receives regular information security updates from management, including our Chief Security Officer and members of our security team. The Board also receives annual reports on information security matters from our Chief Security Officer and members of our security team.
Cybersecurity Risk Role of Management [Text Block]
Our security efforts are managed by a team of executive cybersecurity, IT, engineering, operations, and legal professionals. We have established a cross-functional leadership team, consisting of executive-level leaders, that meets regularly to review cybersecurity matters and evaluate emerging threats. With oversight and guidance provided by the cross-functional leadership team, our information security teams refine our practices to address emerging security risks and changes in regulations. Our executive-level leadership team also participates in cybersecurity incident response efforts by engaging with the incident response team and helping direct the company’s response to and assessment of certain cybersecurity incidents.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] We have designated a Chief Security Officer, reporting to our Senior Vice President of Software Engineering, to oversee the identification, assessment, and management of material cybersecurity risks
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Chief Security Officer’s cybersecurity expertise includes over 18 years of combined government and private sector assignments.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] We have designated a Chief Security Officer, reporting to our Senior Vice President of Software Engineering, to oversee the identification, assessment, and management of material cybersecurity risks
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Organization and Summary of Significant Accounting Policies (Policies)
12 Months Ended
Jan. 25, 2026
Accounting Policies [Abstract]  
Our Company
Our Company
Headquartered in Santa Clara, California, NVIDIA was incorporated in California in April 1993 and reincorporated in Delaware in April 1998.
All references to “NVIDIA,” “we,” “us,” “our” or the “Company” mean NVIDIA Corporation and its subsidiaries.
Certain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation. Non-marketable equity securities, previously presented within other assets, were reclassified to be presented separately on our consolidated balance sheets and had no impact to total assets or consolidated statement of cash flows.
Fiscal Year
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2026, 2025 and 2024 were all 52-week years. Fiscal year 2027 will be a 53-week year with the fourth quarter consisting of 14 weeks.
Principles of Consolidation
Principles of Consolidation
Our consolidated financial statements include the accounts of NVIDIA Corporation and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from our estimates. On an on-going basis, we evaluate our estimates, including those related to accounts receivable, cash equivalents and marketable securities, goodwill, income taxes, inventories and product purchase commitments, investigation and settlement costs, litigation, non-marketable equity securities, other contingencies, property, plant, and equipment, revenue recognition, and stock-based compensation. These estimates are based on historical facts and various other assumptions that we believe are reasonable.
Revenue Recognition
Revenue Recognition
We derive our revenue primarily from product sales including hardware and systems. We determine revenue recognition through the following steps: (1) identification of the contract with a customer; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract (where revenue is allocated on a relative standalone selling price basis by maximizing the use of observable inputs to determine the standalone selling price for each performance obligation); and (5) recognition of revenue when, or as, we satisfy a performance obligation. Payment from customers, per our standard payment terms, is generally due shortly after delivery of our products.
Product Sales Revenue
Revenue from product sales is recognized upon transfer of control of products to customers in an amount that reflects the consideration we expect to receive in exchange for those products. Certain products are sold with support or an extended warranty. Support and extended warranty revenue are recognized ratably over the service period, or as services are performed. Revenue is recognized net of allowances for returns, customer programs and any taxes collected from customers.
For products sold with a right of return, we record a reduction to revenue by establishing a sales return allowance for estimated product returns at the time revenue is recognized, based primarily on historical return rates. However, if product returns for a fiscal period are anticipated to exceed historical return rates, we may determine that additional sales return allowances are required to accurately reflect our estimated exposure for product returns.
Our customer programs involve rebates, which are designed to serve as sales incentives to resellers of our products in various target markets, and MDFs which represent monies paid to our partners that are earmarked for market segment development and are designed to support our partners’ activities while also promoting NVIDIA products. We account for customer programs as a reduction to revenue and accrue for such programs for potential rebates and MDFs based on the amount we expect to be claimed by customers.
Contracts with Multiple Performance Obligations
Our contracts may contain more than one deliverable, each of which is separately accounted for as a distinct performance obligation. We account for multiple agreements with a single customer as a single contract if the contractual terms and/or substance of those agreements indicate that they may be so closely related that they are, in effect, parts of a single contract.
We allocate the total transaction price to each distinct performance obligation in an arrangement with multiple performance obligations on a relative standalone selling price basis. The standalone selling price reflects the price we would charge for a specific product or service if it were sold separately in similar circumstances and to similar customers. When determining standalone selling price, we maximize the use of observable inputs.
Product Warranties
Product Warranties
We offer a limited warranty to end-users ranging from one to three years for products to repair or replace products for manufacturing defects or hardware component failures. Cost of revenue includes the estimated cost of product warranties that are calculated at the point of revenue recognition. Under limited circumstances, we may offer an extended limited warranty to customers for certain products. We also accrue for known warranty and indemnification issues if a loss is probable and can be reasonably estimated.
Stock-based Compensation
Stock-based Compensation
We use the closing trading price of our common stock on the date of grant, minus a dividend yield discount, as the fair value of awards of restricted stock units, or RSUs, and performance stock units, or PSUs, that are based on our corporate financial performance targets. We use a Monte Carlo simulation on the date of grant to estimate the fair value of PSUs that are based on our stock performance compared to market performance, or market-based PSUs. The compensation expense for RSUs and market-based PSUs is recognized using a straight-line attribution method over the requisite employee service period while compensation expense for PSUs is recognized using an accelerated amortization model based on performance targets probable of achievement. We estimate the fair value of shares to be issued under our employee stock purchase plan, or ESPP, using the Black-Scholes model at the commencement of an offering period in March and September of each year. Stock-based compensation for our ESPP is expensed using an accelerated amortization model. Additionally, for RSUs, PSUs, and market-based PSUs, we estimate expected forfeitures based on our historical forfeitures.
Litigation, Investigation and Settlement Costs
Litigation, Investigation and Settlement Costs
We currently are, and will likely continue to be subject to claims, litigation, and other actions, including potential regulatory proceedings, involving patent and other intellectual property matters, taxes, labor and employment, competition and antitrust, commercial disputes, goods and services offered by us and by third parties, and other matters. There are many uncertainties associated with any litigation or investigation, and we cannot be certain that these actions or other third-party claims against us will be resolved without litigation, fines and/or substantial settlement payments or judgments. If information becomes available that causes us to determine that a loss in any of our pending litigation, investigations or settlements is probable, and we can reasonably estimate the loss associated with such events, we will record the loss. However, the actual liability in any such litigation or investigation may be materially different from our estimates, which could require us to record additional costs. If we determine that a loss is reasonably possible and the loss or range of loss can be estimated, we disclose the reasonably possible loss.
Foreign Currency Remeasurement
Foreign Currency Remeasurement
We use the U.S. dollar as our functional currency for our subsidiaries. Foreign currency monetary assets and liabilities are remeasured into United States dollars at end-of-period exchange rates. Non-monetary assets and liabilities such as property and equipment and equity are remeasured at historical exchange rates. Revenue and expenses are remeasured at exchange rates in effect during each period, except for those expenses related to non-monetary balance sheet amounts, which are remeasured at historical exchange rates. Gains or losses from foreign currency remeasurement are included in earnings in our Consolidated Statements of Income and to date have not been significant.
Income Taxes
Income Taxes
We recognize federal, state and foreign current tax liabilities or assets based on our estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. We recognize federal, state and foreign deferred tax assets or liabilities, as appropriate, for our estimate of future tax effects attributable to temporary differences and carryforwards; and we record a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not expected to be realized.
Our calculation of deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. Our estimates of deferred tax assets and liabilities may change
based, in part, on added certainty or finality to an anticipated outcome, changes in accounting standards or tax laws in the U.S., or foreign jurisdictions where we operate, or changes in other facts or circumstances. In addition, we recognize liabilities for potential U.S. and foreign income tax contingencies based on our estimate of whether, and the extent to which, additional taxes may be due. If we determine that payment of these amounts is unnecessary or if the recorded tax liability is less than our current assessment, we may be required to recognize an income tax benefit or additional income tax expense in our financial statements accordingly.
As of January 25, 2026, we had a valuation allowance of $768 million related to capital loss carryforwards, and certain other deferred tax assets that management determined are not likely to be realized due, in part, to jurisdictional projections of future taxable income, including capital gains. To the extent realization of the deferred tax assets becomes more-likely-than-not, we would recognize such deferred tax assets as income tax benefits during the period.
We recognize the benefit from a tax position only if it is more-likely-than-not that the position would be sustained upon audit based solely on the technical merits of the tax position. Our policy is to include interest and penalties related to unrecognized tax benefits as a component of income tax expense.
Net Income Per Share
Net Income Per Share
Basic net income per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common and potentially dilutive shares outstanding during the period, using the treasury stock method. Any anti-dilutive effect of equity awards outstanding is not included in the computation of diluted net income per share.
Cash and Cash Equivalents and Marketable Securities
Cash and Cash Equivalents and Marketable Securities
We consider all highly liquid investments that are readily convertible into cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Marketable securities consist of highly liquid debt investments with maturities of greater than three months when purchased and publicly-held equity securities. We classify these investments as current or long term based on the nature of the investments and their availability for use in current operations.
We record our debt investments as cash equivalents and marketable debt securities and classify them at the date of acquisition as available-for-sale. These available-for-sale debt securities are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income or loss, a component of shareholders’ equity, net of tax. The fair value of interest-bearing debt securities includes accrued interest. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method and recorded in the Other income (expense), net, section of our Consolidated Statements of Income.
Available-for-sale debt securities are subject to impairment review. If the estimated fair value of available-for-sale debt securities is less than its amortized cost basis, we determine if the difference, if any, is caused by expected credit losses and write-down the amortized cost basis of the securities if it is more likely than not we will be required or we intend to sell the securities before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in the Other income, net, net section of our Consolidated Statements of Income.
Publicly-held equity securities and money market funds have readily determinable fair values with changes in fair value recorded in Other income, net.
Cash and Cash Equivalents and Marketable Securities
Cash and Cash Equivalents and Marketable Securities
We consider all highly liquid investments that are readily convertible into cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Marketable securities consist of highly liquid debt investments with maturities of greater than three months when purchased and publicly-held equity securities. We classify these investments as current or long term based on the nature of the investments and their availability for use in current operations.
We record our debt investments as cash equivalents and marketable debt securities and classify them at the date of acquisition as available-for-sale. These available-for-sale debt securities are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income or loss, a component of shareholders’ equity, net of tax. The fair value of interest-bearing debt securities includes accrued interest. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method and recorded in the Other income (expense), net, section of our Consolidated Statements of Income.
Available-for-sale debt securities are subject to impairment review. If the estimated fair value of available-for-sale debt securities is less than its amortized cost basis, we determine if the difference, if any, is caused by expected credit losses and write-down the amortized cost basis of the securities if it is more likely than not we will be required or we intend to sell the securities before recovery of its amortized cost basis. Allowances for credit losses and write-downs are recognized in the Other income, net, net section of our Consolidated Statements of Income.
Publicly-held equity securities and money market funds have readily determinable fair values with changes in fair value recorded in Other income, net.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The carrying value of cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to their relatively short maturities as of January 25, 2026 and January 26, 2025. Marketable debt and equity securities are reported at fair value. Derivative instruments are recognized as either assets or liabilities and are measured at fair value. The accounting for changes in the fair value of a derivative depends on the intended use of the derivative and the resulting designation. For derivative instruments designated as accounting hedges, the effective portion of the gains or losses on the derivatives is initially reported as a component of other comprehensive income or loss and is subsequently recognized in earnings when the hedged exposure is recognized in earnings. For derivative instruments not designated as accounting hedges, changes in fair value are recognized in earnings.
Financial instruments measured and disclosed at fair value are classified and disclosed based on the observability of inputs used in the determination of fair value as follows:
Level 1: Observable inputs such as quoted prices in active markets.
Level 2: Observable inputs other than Level 1 prices, such as quoted prices in less active markets or model-derived valuations that are observable either directly or indirectly.
Level 3: Unobservable inputs in which there is little or no market data that are significant to the fair value of the assets or liabilities.
Concentration of Credit Risk
Concentration of Credit Risk
Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents, marketable securities, lease guarantees, and accounts receivable. Our investment policy requires the purchase of highly-rated fixed income securities, the diversification of investment type and credit exposures, and includes certain limits on our portfolio maturities. We perform ongoing credit evaluations of our customers’ financial condition and maintain an allowance for potential credit losses. This allowance consists of an amount identified for specific customers and an amount based on overall estimated exposure. Our overall estimated exposure excludes amounts covered by credit insurance and letters of credit.
Inventories
Inventories
Inventory cost is computed on an adjusted standard basis, which approximates actual cost on an average or first-in, first-out basis. Inventory costs consist of the cost of semiconductors, including wafer fabrication, assembly, testing and packaging, manufacturing support costs, including labor and overhead associated with such purchases, final test yield fallout, and shipping costs, as well as the cost of purchased memory products and other component parts. We charge cost of sales for inventory provisions to write-down our inventory to the lower of cost or net realizable value or for obsolete or excess inventory, and for excess product purchase commitments. Most of our inventory provisions relate to excess quantities of products, based on our inventory levels and future product purchase commitments compared to assumptions about future demand including the impact of regulatory export restrictions on our products. Once inventory has been written-off or written-down, it creates a new cost basis for the inventory that is not subsequently written-up. We record a liability for noncancelable purchase commitments with suppliers for quantities in excess of our future demand forecasts consistent with our valuation of obsolete or excess inventory.
Property and Equipment
Property and Equipment
Property and equipment are stated at cost less accumulated depreciation. Depreciation of property and equipment is computed using the straight-line method based on the estimated useful lives of the assets of two to seven years. Once an asset is identified for retirement or disposition, the related cost and accumulated depreciation or amortization are removed, and a gain or loss is recorded. The estimated useful lives of our buildings are up to thirty years. Depreciation expense includes the amortization of assets recorded under finance leases. Leasehold improvements and assets recorded under finance leases are amortized over the shorter of the expected lease term or the estimated useful life of the asset.
Leases
Leases
We determine if an arrangement is or contains a lease at inception. Operating leases with lease terms of more than 12 months are included in operating lease assets, accrued and other current liabilities, and long-term operating lease liabilities on our consolidated balance sheet. Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments over the lease term. We combine lease and non-lease components for offices and data centers in determining the operating lease assets and liabilities.
Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using our incremental borrowing rate. Operating lease assets also include initial direct costs incurred and prepaid lease payments, minus any lease incentives. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease costs are recognized on a straight-line basis over the lease term.
Goodwill
Goodwill
We allocate goodwill to reporting units based on the expected benefit from the business combination. Goodwill is subject to our annual impairment test during the fourth quarter of our fiscal year, or earlier if indicators of potential impairment exist. In completing our impairment test, we perform either a qualitative or a quantitative analysis on a reporting unit basis.

Qualitative factors include industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting units. Goodwill impairments were not identified for the periods presented.
Intangible Assets and Other Long-Lived Assets
Intangible Assets and Other Long-Lived Assets
Intangible assets primarily represent acquired intangible assets including developed technology and customer relationships, as well as rights acquired under technology licenses, patents, and acquired IP. We currently amortize our intangible assets with finite lives over periods ranging from one to twenty years using a method that reflects the pattern
in which the economic benefits of the intangible asset are consumed or otherwise used up or, if that pattern cannot be reliably determined, using a straight-line amortization method.
Long-lived assets, such as property and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. The recoverability of assets or asset groups to be held and used is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset or asset group exceeds the estimated fair value of the asset or asset group. Fair value is determined based on the estimated discounted future cash flows expected to be generated by the asset or asset group. Assets and liabilities to be disposed of would be separately presented in the Consolidated Balance Sheet and the assets would be reported at the lower of the carrying amount or fair value less costs to sell, and would no longer be depreciated.
Business Combination
Business Combination
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. We allocate the fair value of the purchase price of an acquisition to the tangible assets acquired, liabilities assumed, and intangible assets acquired, based on their estimated fair values. The excess of the fair value of the purchase price over the fair values of these net tangible and intangible assets acquired is recorded as goodwill. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but our estimates and assumptions are inherently uncertain and subject to refinement. The estimates and assumptions used in valuing intangible assets include, but are not limited to, the amount and timing of projected future cash flows, discount rate used to determine the present value of these cash flows and asset lives. These estimates are inherently uncertain and, therefore, actual results may differ from the estimates made. As a result, during the measurement period of up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the measurement period's conclusion or final determination of the fair value of the purchase price of an acquisition, whichever comes first, any subsequent adjustments are recorded to our Consolidated Statements of Income.
Acquisition-related expenses are recognized separately from the business combination and expensed as incurred.
Non-marketable Equity Securities
Non-Marketable Equity Securities
Non-marketable equity securities consist of investments in privately-held companies that do not have a readily determinable fair value. These investments are measured at cost minus impairment, if any, and are adjusted for changes resulting from observable price changes in orderly transactions for an identical or similar investment in the same issuer, or the measurement alternative. Fair value is based upon observable inputs in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. All gains and losses on these investments, realized and unrealized, are recognized in Other income, net on our Consolidated Statements of Income.
We assess whether an impairment loss has occurred on our investments in non-marketable equity securities, accounted for under the measurement alternative based on quantitative and qualitative factors. If any impairment is identified for non-marketable equity securities, we write down the investment to its fair value and record the corresponding charge through Other income, net on our Consolidated Statements of Income.
The Company assesses its investments for significant influence to determine the appropriate method of accounting, including application of the equity method. Equity method investments were not material.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the Financial Accounting Standards Board, or FASB, issued a new accounting standard requiring disclosures of certain additional expense information on an annual and interim basis, including, among other items, the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization included within each income statement expense caption, as applicable. We will adopt this standard in the fiscal year 2028 annual report. We do not expect the adoption of this standard to have a material impact on our Consolidated Financial Statements other than additional disclosures.
v3.25.4
Stock-Based Compensation (Tables)
12 Months Ended
Jan. 25, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense, Net of Amounts Capitalized as Inventory
Consolidated Statements of Income include stock-based compensation expense as follows:
 Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Cost of revenue$261 $178 $141 
Research and development4,676 3,423 2,532 
Sales, general and administrative1,449 1,136 876 
Total$6,386 $4,737 $3,549 
Schedule of Equity Awards
The following is a summary of equity awards granted under our equity incentive plans:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
(In millions, except per share data)
RSUs, PSUs and Market-based PSUs
Awards granted70 89 140 
Estimated total grant-date fair value$9,389 $7,834 $5,316 
Weighted average grant-date fair value per share$133.97 $87.99 $37.41 
ESPP
Shares purchased13 30 30 
Weighted average price per share$49.13 $17.74 $15.81 
Weighted average grant-date fair value per share$20.75 $8.61 $6.99 
Schedule of ESPP Valuation Assumptions
The fair value of shares issued under our ESPP has been estimated with the following assumptions:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
(Using the Black-Scholes model)
ESPP
Weighted average expected life (in years)
0.1-2.0
0.1-2.0
0.1-2.0
Risk-free interest rate
3.5%-4.3%
3.6%-5.4%
3.9%-5.5%
Volatility
26%-96%
31%-75%
31%-67%
Dividend yield
 0.03%
0.03%
0.06%
Schedule of Equity Award Transactions
The following is a summary of our equity award transactions under our equity incentive plans: 
RSUs, PSUs and Market-based PSUs Outstanding
 Number of Shares
Weighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balance as of Jan 26, 2025
274 $44.75 
Granted70 $133.97 
Vested(146)$39.14 
Canceled and forfeited(9)$59.29 
Balance as of Jan 25, 2026
189 $81.51 
Vested and expected to vest after Jan 25, 2026
188 $81.15 
v3.25.4
Net Income Per Share (Tables)
12 Months Ended
Jan. 25, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted net Income Per Share Computations
The following is the basic and diluted net income per share computations for the periods presented:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions, except per share data)
Numerator:   
Net income$120,067 $72,880 $29,760 
Denominator:
Basic weighted average shares24,359 24,555 24,690 
Dilutive impact of outstanding equity awards155 249 250 
Diluted weighted average shares24,514 24,804 24,940 
Net income per share:
Basic (1)$4.93 $2.97 $1.21 
Diluted (2)$4.90 $2.94 $1.19 
Anti-dilutive equity awards excluded from diluted net income per share
41 51 150 
(1)    Net income divided by basic weighted average shares.
(2)    Net income divided by diluted weighted average shares.
v3.25.4
Amortizable Intangible Assets (Tables)
12 Months Ended
Jan. 25, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of the Components of Our Amortizable Intangible Assets
The components of our amortizable intangible assets are as follows:
 Jan 25, 2026Jan 26, 2025
 Gross
Carrying
Amount
Accumulated
Amortization
Net 
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net 
Carrying
Amount
 (In millions)
Acquisition-related intangible assets$5,656 $(2,580)$3,076 $2,900 $(2,264)$636 
Patents and licensed technology528 (298)230 449 (278)171 
Total intangible assets$6,184 $(2,878)$3,306 $3,349 $(2,542)$807 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The following table outlines the estimated future amortization expense related to the net carrying amount of intangible assets as of January 25, 2026:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2027$923 
2028729 
2029592 
2030511 
2031468 
2032 and thereafter83 
Total$3,306 
v3.25.4
Cash Equivalents and Marketable Securities (Tables)
12 Months Ended
Jan. 25, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Marketable Securities The following is a summary of cash equivalents and marketable securities:
 Jan 25, 2026
Pricing Category
Cost or Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
Cash EquivalentsMarketable Securities
Other Assets
 (In millions)
Debt securities issued by the U.S. TreasuryLevel 2$21,635 $77 $(3)$21,709 $— $21,709 $— 
Corporate debt securitiesLevel 215,410 92 (3)15,499 345 15,154 — 
Debt securities issued by U.S. government agenciesLevel 22,157 — 2,161 — 2,161 — 
Certificates of depositLevel 2110 — — 110 110 — — 
Foreign government bondsLevel 240 — 41 — 41 — 
Money market fundsLevel 17,830 — — 7,830 7,830 — — 
Publicly-held equity securities (1) (2)
Level 117,726 — 12,886 4,840 
Total$47,182 $174 $(6)$65,076 $8,285 $51,951 $4,840 
(1)    In the first quarter of fiscal year 2026, one investment was reclassified from non-marketable equity securities to marketable securities following public market trading. The balance as of January 25, 2026 includes $10.5 billion of investments which are subject to short-term lock-up restrictions on the ability to sell.
(2)    The long-term portion of marketable equity securities, which are subject to lock-up restrictions through December 2027 of $4.8 billion as of January 25, 2026, is included in other assets.
Jan 26, 2025
Pricing CategoryCost or Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
Cash EquivalentsMarketable Securities
(In millions)
Corporate debt securitiesLevel 2$18,504 $51 $(29)$18,526 $2,071 $16,455 
Debt securities issued by the U.S. TreasuryLevel 216,749 42 (22)16,769 1,801 14,968 
Debt securities issued by U.S. government agenciesLevel 22,775 (5)2,777 — 2,777 
Foreign government bondsLevel 2177 — — 177 137 40 
Certificates of depositLevel 297 — — 97 97 — 
Money market fundsLevel 13,760 — — 3,760 3,760 — 
Publicly-held equity securities
Level 1381 — 381 
Total$42,062 $100 $(56)$42,487 $7,866 $34,621 
The estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.
 Jan 25, 2026
 (In millions)
Less than one year$20,427 
Due in 1 - 5 years19,093 
Total$39,520 
Schedule of Marketable Securities in a Continuous Unrealized Loss Position
The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual debt securities have been in a continuous loss position:
Jan 25, 2026Jan 26, 2025
 Less than 12 MonthsLess than 12 Months
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$10,666 $(3)$6,315 $(22)
Corporate debt securities1,332 (3)5,291 (29)
Debt securities issued by U.S. government agencies1,134 — 816 (5)
Total$13,132 $(6)$12,422 $(56)
v3.25.4
Non-marketable Equity Securities (Tables)
12 Months Ended
Jan. 25, 2026
Fair Value Disclosures [Abstract]  
Schedule of Equity Securities without Readily Determinable Fair Value
Adjustments to the carrying value of our non-marketable equity securities during fiscal years 2026 and 2025 were as follows:
Year Ended
Jan 25, 2026Jan 26, 2025
(In millions)
Balance at beginning of period$3,387 $1,321 
Adjustments related to non-marketable equity securities:
Net additions17,444 1,309 
Unrealized gains2,369 816 
Reclassification (1)
(848)— 
Impairments and unrealized losses(101)(59)
Balance at end of period$22,251 $3,387 
(1) Represents reclassifications from non-marketable equity securities to marketable securities following public market trading.
v3.25.4
Balance Sheet Components (Tables)
12 Months Ended
Jan. 25, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Certain balance sheet components are as follows:
 Jan 25, 2026Jan 26, 2025
Inventories:
(In millions)
Raw materials$3,807 $3,408 
Work in process8,822 3,399 
Finished goods8,774 3,273 
Total inventories (1)$21,403 $10,080 
(1)    In fiscal years 2026 and 2025, we recorded inventory provisions of $4.0 billion and $1.6 billion, respectively, in cost of revenue.
Schedule of Property and Equipment
 Jan 25, 2026Jan 26, 2025Estimated
Useful Life
Property and Equipment:
(In millions)(In years)
Land$777 $511 (A)
Buildings, leasehold improvements, and furniture2,891 2,076 (B)
Equipment, compute hardware, and software
12,619 7,568 
2-7
Construction in process683 529 (C)
Total property and equipment, gross16,970 10,684  
Accumulated depreciation and amortization(6,587)(4,401) 
Total property and equipment, net$10,383 $6,283  
(A)Land is a non-depreciable asset.
(B)The estimated useful lives of our buildings are up to thirty years. Leasehold improvements and finance leases are amortized based on the lesser of either the asset’s estimated useful life or the expected remaining lease term.
(C)Construction in process represents assets that are not available for their intended use.
Schedule of Accrued and Other Current Liabilities
 Jan 25, 2026Jan 26, 2025
Accrued and Other Current Liabilities:
(In millions)
Customer program accruals$5,318 $4,880 
Accrued purchase consideration
3,921 
Product warranty
2,807 1,290 
Excess inventory purchase obligations (1)2,739 2,095 
Taxes payable2,669 881 
Deferred revenue (2)1,379 837 
Accrued payroll and related expenses1,146 848 
Other1,373 897 
Total accrued and other current liabilities$21,352 $11,737 
In fiscal years 2026 and 2025, we recorded an expense of approximately $3.2 billion and $2.0 billion, respectively, in cost of revenue.Includes customer advances and unearned revenue related to hardware and software support, cloud services, and license and development arrangements. The balance as of January 25, 2026 and January 26, 2025 included $160 million and $81 million of customer advances, respectively.
Schedule of Other Long-term Liabilities
 Jan 25, 2026Jan 26, 2025
Other Long-Term Liabilities:
(In millions)
Income tax payable (1)$3,958 $2,188 
Deferred income tax1,774 886 
Deferred revenue (2)1,193 976 
Other381 195 
Total other long-term liabilities$7,306 $4,245 
(1)Primarily comprised of unrecognized tax benefits and related interest and penalties.
(2)Includes unearned revenue related to hardware and software support and cloud services.
Schedule of Changes in Deferred Revenue
The following table shows the changes in short- and long-term deferred revenue during fiscal years 2026 and 2025:
 Jan 25, 2026Jan 26, 2025
(In millions)
Balance at beginning of period$1,813 $1,337 
Deferred revenue additions (1)11,137 5,083 
Revenue recognized (2)(10,378)(4,607)
Balance at end of period$2,572 $1,813 
(1)    Includes $9.0 billion and $3.6 billion of customer advances for fiscal years 2026 and 2025, respectively.
(2)    Includes $8.9 billion and $3.7 billion related to customer advances for fiscal years 2026 and 2025, respectively.
v3.25.4
Derivative Financial Instruments (Tables)
12 Months Ended
Jan. 25, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Value of Our Foreign Currency Forward Contracts Outstanding
The table below presents the notional value of our foreign currency contracts outstanding:
Jan 25, 2026Jan 26, 2025
 (In millions)
Designated as accounting hedges$1,765 $1,424 
Not designated as accounting hedges$2,332 $1,297 
v3.25.4
Debt (Tables)
12 Months Ended
Jan. 25, 2026
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
 Expected
Remaining Term (years)
Effective
Interest Rate
Jan 25, 2026Jan 26, 2025
   (In millions)
3.20% Notes Due 2026
0.63.31%1,000 1,000 
1.55% Notes Due 2028
2.41.64%1,250 1,250 
2.85% Notes Due 2030
4.22.93%1,500 1,500 
2.00% Notes Due 2031
5.42.09%1,250 1,250 
3.50% Notes Due 2040
14.23.54%1,000 1,000 
3.50% Notes Due 2050
24.23.54%2,000 2,000 
3.70% Notes Due 2060
34.23.73%500 500 
Unamortized debt discount and issuance costs  (32)(37)
Net carrying amount  8,468 8,463 
Less short-term portion(999)— 
Total long-term portion$7,469 $8,463 
v3.25.4
Commitments and Contingencies (Tables)
12 Months Ended
Jan. 25, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Product Warranty Activity The estimated product returns and product warranty activity consisted of the following:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
(In millions)
Balance at beginning of period$1,290 $306 $82 
Additions2,474 1,203 278 
Utilization(957)(219)(54)
Balance at end of period$2,807 $1,290 $306 
v3.25.4
Income Taxes (Tables)
12 Months Ended
Jan. 25, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income Tax Expense
The Income tax expense applicable to income before income taxes consists of the following:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Current income taxes:   
Federal$19,039 $14,032 $5,710 
State1,218 892 335 
Foreign2,550 699 502 
Total current22,807 15,623 6,547 
Deferred income taxes:
Federal(1,364)(4,515)(2,499)
State(885)(242)(206)
Foreign825 280 216 
Total deferred(1,424)(4,477)(2,489)
Income tax expense$21,383 $11,146 $4,058 
Schedule of Income Before Income Tax
Income before income tax consists of the following:
 Year Ended
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
U.S.$123,181 $77,456 $29,495 
Foreign18,269 6,570 4,323 
Income before income tax$141,450 $84,026 $33,818 
Schedule of Effective Income Tax Rate Reconciliation
The income tax expense (benefit) differs from the amount computed by applying the U.S. federal statutory rate of 21.0% to income before income taxes for the fiscal year ended January 25, 2026 as follows:
 Year Ended
 Jan 25, 2026
 (In millions, except percentages)
US Federal Statutory Tax Rate
$29,704 21.0 %

State and Local Income Taxes, Net of Federal Income Tax Effect (1)258 0.2 %
Foreign tax effects
Israel
Reduced statutory tax rate on qualifying income
(3,064)(2.2)%
Other
1,606 1.2 %
Other foreign jurisdictions
741 0.5 %
Effect of cross-border tax laws
Foreign-derived deduction eligible income(4,208)(3.0)%
Other
(142)(0.1)%
Tax credits(1,933)(1.4)%
Nontaxable or nondeductible items
Stock-based compensation(1,475)(1.0)%
Other
29 — %
Other (2)
(133)(0.1)%
Income tax expense$21,383 15.1 %
(1) State taxes in California, Tennessee, Arizona, and Illinois made up the majority of the tax effect in fiscal year 2026.
(2) Includes the tax effects of enactment of new tax laws, change in valuation allowance, and change in unrecognized tax benefits.
The income tax expense (benefit) differs from the amount computed by applying the U.S. federal statutory rate of 21% to income before income taxes for fiscal years ended January 26, 2025 and January 28, 2024 as follows:
Year Ended
Jan 26, 2025Jan 28, 2024
(In millions, except percentages)
Tax expense computed at federal statutory rate$17,645 21.0 %$7,102 21.0 %
Expense (benefit) resulting from:
State income taxes, net of federal tax effect554 0.7 %120 0.4 %
Foreign-derived deduction eligible income(2,976)(3.5)%(1,408)(4.2)%
Stock-based compensation(2,097)(2.5)%(741)(2.2)%
U.S. federal research and development tax credit(990)(1.2)%(431)(1.3)%
Foreign tax rate differential(984)(1.2)%(467)(1.4)%
Other(6)— %(117)(0.3)%
Income tax expense
$11,146 13.3 %$4,058 12.0 %
Schedule of Income Tax Paid
The amount of cash paid for income taxes (net of refunds) for the fiscal year ended January 25, 2026 is as follows:
Year Ended
 Jan 25, 2026
 (In millions)
Federal
$16,755 
State
California
1,049 
Other
1,041 
Foreign
Israel
1,287 
Other
156 
Total income taxes paid, net of refunds
$20,288 
Schedule of Deferred Tax Assets and Liabilities
The tax effect of temporary differences that gives rise to significant portions of the deferred tax assets and liabilities are presented below:
 Jan 25, 2026Jan 26, 2025
 (In millions)
Deferred tax assets: 
Capitalized research and development expenditure$5,436 $6,256 
Net controlled foreign corporation tested income deferred tax assets
5,389 2,820 
Accruals and reserves, not currently deductible for tax purposes3,644 2,058 
Research and other tax credit carryforwards718 759 
Operating lease liabilities554 299 
Net operating loss and capital loss carryforwards443 456 
Other deferred tax assets679 566 
Gross deferred tax assets16,863 13,214 
Less valuation allowance(768)(1,610)
Total deferred tax assets16,095 11,604 
Deferred tax liabilities:
Equity investments(2,227)(264)
Unremitted earnings of foreign subsidiaries(1,813)(891)
Operating lease assets(533)(286)
Acquired intangibles(38)(70)
Gross deferred tax liabilities(4,611)(1,511)
Net deferred tax asset (1)$11,484 $10,093 
(1)    Net deferred tax asset includes long-term deferred tax assets of $13.3 billion and $11.0 billion and long-term deferred tax liabilities of $1.8 billion and $886 million for fiscal years 2026 and 2025, respectively. Long-term deferred tax liabilities are included in other long-term liabilities on our Consolidated Balance Sheets.
Schedule of Gross Unrecognized Tax Benefits
A reconciliation of gross unrecognized tax benefits is as follows:
 Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Balance at beginning of period$2,861 $1,670 $1,238 
Increases in tax positions for current year1,959 1,268 616 
Increases in tax positions for prior years57 48 87 
Lapse in statute of limitations(224)(27)(19)
Decreases in tax positions for prior years(157)(88)(148)
Settlements(76)(10)(104)
Balance at end of period$4,420 $2,861 $1,670 
v3.25.4
Segment Information (Tables)
12 Months Ended
Jan. 25, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Segments 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.
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 
Schedule of Revenue by Geographic Regions
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.
Schedule of Revenue by Specialized Markets
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 
Schedule of Long-Lived Assets by Geographic Region
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 
v3.25.4
Leases (Tables)
12 Months Ended
Jan. 25, 2026
Leases [Abstract]  
Schedule of Future Minimum Lease Payments
Future minimum lease obligations under our non-cancelable lease agreements as of January 25, 2026 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2027$493 
2028485 
2029457 
2030381 
2031314 
2032 and thereafter1,494 
Total3,624 
Less imputed interest680 
Present value of net future minimum lease payments2,944 
Less short-term operating lease liabilities372 
Long-term operating lease liabilities$2,572 
Schedule of Other Information Related to Leases
Other information related to leases was as follows:
Year Ended
Jan 25, 2026Jan 26, 2025Jan 28, 2024
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$428 $313 $286 
Operating lease assets obtained in exchange for lease obligations$1,439 $877 $531 
v3.25.4
Organization and Summary of Significant Accounting Policies (Details)
12 Months Ended
Jan. 25, 2026
Buildings  
Property, Plant and Equipment [Line Items]  
Property, plant & equipment, useful life (up to) 30 years
Minimum  
Property, Plant and Equipment [Line Items]  
Warranty liability, term 1 year
Property, plant & equipment, useful life (up to) 2 years
Intangible assets, useful life 1 year
Maximum  
Property, Plant and Equipment [Line Items]  
Warranty liability, term 3 years
Property, plant & equipment, useful life (up to) 7 years
Intangible assets, useful life 20 years
v3.25.4
Groq - Narrative (Details) - USD ($)
$ in Millions
1 Months Ended
Dec. 31, 2025
Jan. 25, 2026
Jan. 26, 2025
Business Combination [Line Items]      
Goodwill   $ 20,832 $ 5,188
Compute & Networking      
Business Combination [Line Items]      
Goodwill   $ 20,500 $ 4,800
Groq, Inc. Non-Exclusive License Agreement      
Business Combination [Line Items]      
Goodwill $ 14,400    
Consideration paid at closing 13,000    
Consideration payable 4,000    
Tax deductible goodwill 14,400    
Developed Technology | Groq, Inc. Non-Exclusive License Agreement      
Business Combination [Line Items]      
Intangible assets, net $ 2,500    
Estimated useful life 5 years    
v3.25.4
Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Stock-based compensation expense $ 6,386 $ 4,737 $ 3,549
Cost of revenue      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Stock-based compensation expense 261 178 141
Research and development      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Stock-based compensation expense 4,676 3,423 2,532
Sales, general and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Stock-based compensation expense $ 1,449 $ 1,136 $ 876
v3.25.4
Stock-Based Compensation - Summary of Equity Awards (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Awards granted (in shares) 70    
Weighted average grant date fair value (in dollars per share) $ 133.97    
Summary of unearned SBC expense      
Unearned stock-based compensation expense $ 14,800    
RSUs, PSUs and Market-based PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Awards granted (in shares) 70 89 140
Estimated total grant-date fair value $ 9,389 $ 7,834 $ 5,316
Weighted average grant date fair value (in dollars per share) $ 133.97 $ 87.99 $ 37.41
Summary of unearned SBC expense      
Estimated weighted average amortization period 2 years 3 months 18 days    
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Awards granted (in shares) 13 30 30
Weighted average price (in dollars per share) $ 49.13 $ 17.74 $ 15.81
Weighted average grant date fair value (in dollars per share) $ 20.75 $ 8.61 $ 6.99
Summary of unearned SBC expense      
Estimated weighted average amortization period 10 months 24 days    
Fair Value Assumptions      
Risk free interest rate, minimum 3.50% 3.60% 3.90%
Risk free interest rate, maximum 4.30% 5.40% 5.50%
Volatility rate, minimum 26.00% 31.00% 31.00%
Volatility rate, maximum 96.00% 75.00% 67.00%
Dividend yield 0.03% 0.03% 0.06%
Employee Stock Purchase Plan | Minimum      
Fair Value Assumptions      
Weighted average expected life (in years) 1 month 6 days 1 month 6 days 1 month 6 days
Employee Stock Purchase Plan | Maximum      
Fair Value Assumptions      
Weighted average expected life (in years) 2 years 2 years 2 years
v3.25.4
Stock-Based Compensation - Narrative (Details)
shares in Millions, $ in Billions
12 Months Ended
Jan. 25, 2026
USD ($)
period
shares
Jan. 26, 2025
USD ($)
shares
Jan. 28, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unearned stock-based compensation expense | $ $ 14.8    
Number of shares may be issued under the Restated 2007 Plan (in shares) 192    
Number of shares available for grant (in shares)   1,400  
Employee stock purchase plan, offering period duration 24 months    
Employee stock purchase plan, number of purchase periods in offering period | period 4    
Employee stock purchase plan, purchase period duration 6 months    
RSUs, PSUs and Market-based PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Estimated weighted average amortization period 2 years 3 months 18 days    
Number of shares available for grant (in shares) 1,300    
Total fair value of units as of respective vesting dates | $ $ 22.2 $ 15.1 $ 8.2
Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 4 years    
Market-based PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting period 3 years    
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Estimated weighted average amortization period 10 months 24 days    
Maximum employee subscription rate (as percent) 25.00%    
Purchase price of ESPP (as percent) 85.00%    
Shares reserved for future issuance (in shares) 2,200    
v3.25.4
Stock-Based Compensation - Equity Incentive Plans (Details)
shares in Millions
12 Months Ended
Jan. 25, 2026
$ / shares
shares
Number of Shares  
Beginning balance (in shares) | shares 274
Granted (in shares) | shares 70
Vested (in shares) | shares (146)
Canceled and forfeited (in shares) | shares (9)
Ending balance (in shares) | shares 189
Vested and expected to vest (in shares) | shares 188
Weighted Average Grant-Date Fair Value Per Share  
Beginning balance (in USD per share) | $ / shares $ 44.75
Granted (in USD per share) | $ / shares 133.97
Vested (in USD per share) | $ / shares 39.14
Canceled and forfeited (in USD per share) | $ / shares 59.29
Ending balance (in USD per share) | $ / shares 81.51
Vested and expected to vest (in USD per share) | $ / shares $ 81.15
v3.25.4
Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Numerator:      
Net income $ 120,067 $ 72,880 $ 29,760
Denominator:      
Basic weighted average shares (in shares) 24,359 24,555 24,690
Dilutive impact of outstanding equity awards (in shares) 155 249 250
Diluted weighted average shares (in shares) 24,514 24,804 24,940
Net income per share:      
Basic (in USD per share) $ 4.93 $ 2.97 $ 1.21
Diluted (in USD per share) $ 4.90 $ 2.94 $ 1.19
Anti-dilutive awards excluded from diluted net income per share (in shares) 41 51 150
v3.25.4
Goodwill (Details) - USD ($)
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Goodwill [Line Items]      
Goodwill $ 20,832,000,000 $ 5,188,000,000  
Goodwill increase in period 15,600,000,000    
Goodwill impairment loss 0 0 $ 0
Compute & Networking      
Goodwill [Line Items]      
Goodwill 20,500,000,000 4,800,000,000  
Graphics      
Goodwill [Line Items]      
Goodwill $ 370,000,000 $ 370,000,000  
v3.25.4
Amortizable Intangible Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount $ 6,184 $ 3,349  
Accumulated Amortization (2,878) (2,542)  
Net  Carrying Amount 3,306 807  
Amortization expense 488 593 $ 614
Future amortization expense associated with intangible assets      
2027 923    
2028 729    
2029 592    
2030 511    
2031 468    
2032 and thereafter 83    
Net  Carrying Amount 3,306 807  
Acquisition-related intangible assets      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 5,656 2,900  
Accumulated Amortization (2,580) (2,264)  
Net  Carrying Amount 3,076 636  
Future amortization expense associated with intangible assets      
Net  Carrying Amount 3,076 636  
Patents and licensed technology      
Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 528 449  
Accumulated Amortization (298) (278)  
Net  Carrying Amount 230 171  
Future amortization expense associated with intangible assets      
Net  Carrying Amount $ 230 $ 171  
v3.25.4
Cash Equivalents and Marketable Securities - Cash Equivalents and Marketable Securities (Details)
$ in Millions
3 Months Ended
Apr. 27, 2025
segment
Jan. 25, 2026
USD ($)
Jan. 26, 2025
USD ($)
Debt Securities, Available-for-sale [Line Items]      
Unrealized Gain   $ 174 $ 100
Unrealized Loss   (6) (56)
Estimated Fair Value   39,520  
Cash Equivalents   8,285 7,866
Cost of Amortized Cost, Total   47,182 42,062
Estimated fair Value, Total   65,076 42,487
Marketable Securities, Total   51,951 34,621
Number of investments reclassified | segment 1    
Debt securities issued by the U.S. Treasury | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   21,635 16,749
Unrealized Gain   77 42
Unrealized Loss   (3) (22)
Estimated Fair Value   21,709 16,769
Cash Equivalents   0 1,801
Marketable Securities     14,968
Corporate debt securities | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   15,410 18,504
Unrealized Gain   92 51
Unrealized Loss   (3) (29)
Estimated Fair Value   15,499 18,526
Cash Equivalents   345 2,071
Marketable Securities     16,455
Debt securities issued by U.S. government agencies | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   2,157 2,775
Unrealized Gain   4 7
Unrealized Loss   0 (5)
Estimated Fair Value   2,161 2,777
Cash Equivalents   0 0
Marketable Securities     2,777
Certificates of deposit | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   110 97
Unrealized Gain   0 0
Unrealized Loss   0 0
Estimated Fair Value   110 97
Cash Equivalents   110 97
Marketable Securities     0
Foreign government bonds | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   40 177
Unrealized Gain   1 0
Unrealized Loss   0 0
Estimated Fair Value   41 177
Cash Equivalents   0 137
Marketable Securities     40
Money market funds | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Cost or Amortized Cost   7,830 3,760
Unrealized Gain   0 0
Unrealized Loss   0 0
Estimated Fair Value   7,830 3,760
Cash Equivalents   7,830 3,760
Marketable Securities     0
Publicly-held equity securities      
Debt Securities, Available-for-sale [Line Items]      
Short-term investments   10,500  
Publicly-held equity securities | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Publicly-held equity securities   17,726 $ 381
Marketable Securities      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities, Total   51,951  
Marketable Securities | Debt securities issued by the U.S. Treasury | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   21,709  
Marketable Securities | Corporate debt securities | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   15,154  
Marketable Securities | Debt securities issued by U.S. government agencies | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   2,161  
Marketable Securities | Certificates of deposit | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   0  
Marketable Securities | Foreign government bonds | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   41  
Marketable Securities | Money market funds | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Marketable Securities   0  
Marketable Securities | Publicly-held equity securities | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Publicly-held equity securities   12,886  
Other Assets      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   4,840  
Other Assets | Debt securities issued by the U.S. Treasury | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Corporate debt securities | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Debt securities issued by U.S. government agencies | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Certificates of deposit | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Foreign government bonds | Level 2      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Money market funds | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Other Assets   0  
Other Assets | Publicly-held equity securities | Level 1      
Debt Securities, Available-for-sale [Line Items]      
Publicly-held equity securities   $ 4,840  
v3.25.4
Cash Equivalents and Marketable Securities - Narrative (Details)
$ in Billions
12 Months Ended
Jan. 25, 2026
USD ($)
Publicly-held equity securities  
Debt Securities, Available-for-sale [Line Items]  
Net unrealized gains on investments $ 6.6
v3.25.4
Cash Equivalents and Marketable Securities - Unrealized Losses Aggregated by Investment Category (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Estimated Fair Value    
Less than 12 Months $ 13,132 $ 12,422
Gross Unrealized Loss    
Less than 12 Months (6) (56)
Debt securities issued by the U.S. Treasury    
Estimated Fair Value    
Less than 12 Months 10,666 6,315
Gross Unrealized Loss    
Less than 12 Months (3) (22)
Corporate debt securities    
Estimated Fair Value    
Less than 12 Months 1,332 5,291
Gross Unrealized Loss    
Less than 12 Months (3) (29)
Debt securities issued by U.S. government agencies    
Estimated Fair Value    
Less than 12 Months 1,134 816
Gross Unrealized Loss    
Less than 12 Months $ 0 $ (5)
v3.25.4
Cash Equivalents and Marketable Securities - Estimated Fair Value of Cash Equivalents and Marketable Securities (Details)
$ in Millions
Jan. 25, 2026
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Less than one year $ 20,427
Due in 1 - 5 years 19,093
Estimated Fair Value $ 39,520
v3.25.4
Non-marketable Equity Securities - Carrying Value of Non-marketable Equity Securities (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Investments, Debt and Equity Securities [Abstract]    
Balance at beginning of period $ 3,387 $ 1,321
Net additions 17,444 1,309
Unrealized gains 2,369 816
Reclassification (848) 0
Impairments and unrealized losses (101) (59)
Balance at end of period $ 22,251 $ 3,387
v3.25.4
Non-marketable Equity Securities - Narrative (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Investments, Debt and Equity Securities [Abstract]    
Cumulative gross unrealized gains $ 2,700 $ 1,100
Cumulative gross losses and impairments $ 176 $ 105
v3.25.4
Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Property, Plant and Equipment [Line Items]      
Depreciation expense $ 2,400 $ 1,300 $ 894
Accumulated amortization of lease hold improvements and finance leases 519 410  
Capital expenditures incurred but not yet paid $ 820 $ 525 $ 170
Customer one | Accounts Receivable | Customer Concentration Risk      
Property, Plant and Equipment [Line Items]      
Concentration risk (as percent) 25.00% 17.00%  
Customer two | Accounts Receivable | Customer Concentration Risk      
Property, Plant and Equipment [Line Items]      
Concentration risk (as percent) 18.00% 16.00%  
Customer three | Accounts Receivable | Customer Concentration Risk      
Property, Plant and Equipment [Line Items]      
Concentration risk (as percent) 13.00%    
v3.25.4
Balance Sheet Components - Inventories (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Inventories    
Raw materials $ 3,807 $ 3,408
Work in process 8,822 3,399
Finished goods 8,774 3,273
Total inventories 21,403 10,080
Inventory reserves expenses $ 4,000 $ 1,600
v3.25.4
Balance Sheet Components - Property and Equipment (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 16,970 $ 10,684
Accumulated depreciation and amortization (6,587) (4,401)
Total property and equipment, net $ 10,383 6,283
Minimum    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, useful life (up to) 2 years  
Maximum    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, useful life (up to) 7 years  
Land    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 777 511
Buildings, leasehold improvements, and furniture    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross 2,891 2,076
Equipment, compute hardware, and software    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 12,619 7,568
Equipment, compute hardware, and software | Minimum    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, useful life (up to) 2 years  
Equipment, compute hardware, and software | Maximum    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, useful life (up to) 7 years  
Construction in process    
Property, Plant and Equipment [Line Items]    
Total property and equipment, gross $ 683 $ 529
Buildings    
Property, Plant and Equipment [Line Items]    
Property, plant & equipment, useful life (up to) 30 years  
v3.25.4
Balance Sheet Components - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Accruals [Line Items]      
Customer program accruals $ 5,318 $ 4,880  
Accrued purchase consideration 3,921 9  
Product warranty 2,807 1,290  
Excess inventory purchase obligations 2,739 2,095  
Taxes payable 2,669 881  
Deferred revenue 1,379 837  
Accrued payroll and related expenses 1,146 848  
Other 1,373 897  
Total accrued and other current liabilities 21,352 11,737  
Cost of revenue 62,475 32,639 $ 16,621
Inventory purchase obligations in excess of projections      
Accruals [Line Items]      
Cost of revenue 3,200 2,000  
Customer advances and unearned revenue      
Accruals [Line Items]      
Deferred revenue $ 160 $ 81  
v3.25.4
Balance Sheet Components - Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Other Long-Term Liabilities:    
Income tax payable $ 3,958 $ 2,188
Deferred income tax 1,774 886
Deferred revenue 1,193 976
Other 381 195
Total other long-term liabilities $ 7,306 $ 4,245
v3.25.4
Balance Sheet Components - Deferred Revenue (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Movement in Deferred Revenue [Roll Forward]    
Balance at beginning of period $ 1,813 $ 1,337
Deferred revenue additions 11,137 5,083
Revenue recognized (10,378) (4,607)
Balance at end of period 2,572 1,813
Customer advances included in deferred revenue 9,000 3,600
Customer advances included in revenue recognized $ 8,900 $ 3,700
v3.25.4
Balance Sheet Components - Revenue Remaining Performance Obligation (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Deferred revenue $ 974 $ 729
Remaining performance obligation 2,300  
Remaining performance obligations from deferred revenue 1,900  
Remaining performance obligations not yet billed nor recognized as revenue $ 390  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-27    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Remaining performance obligation (as percent) 42.00%  
Expected performance period 12 months  
v3.25.4
Derivative Financial Instruments - Notional Value of Our Foreign Currency Forward Contracts Outstanding (Details) - Foreign currency forward contract - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Designated as accounting hedges    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional values of derivative contracts $ 1,765 $ 1,424
Not designated as accounting hedges    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional values of derivative contracts $ 2,332 $ 1,297
v3.25.4
Derivative Financial Instruments - Narrative (Details)
$ in Millions
12 Months Ended
Jan. 25, 2026
USD ($)
Facility Lease Guarantees  
Derivative [Line Items]  
Maximum exposure $ 3,500
Amount held in escrow $ 712
Facility Lease Guarantees | Minimum  
Derivative [Line Items]  
Guarantee term 5 years
Facility Lease Guarantees | Maximum  
Derivative [Line Items]  
Guarantee term 7 years
Foreign currency forward contract  
Derivative [Line Items]  
Maximum maturity period 18 months
v3.25.4
Debt - Schedule of Debt (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Debt Instrument [Line Items]    
Unamortized debt discount and issuance costs $ (32) $ (37)
Net carrying amount 8,468 8,463
Less short-term portion (999) 0
Long-term debt $ 7,469 8,463
3.20% Notes Due 2026    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.20%  
Expected Remaining Term (years) 7 months 6 days  
Effective Interest Rate (as percent) 3.31%  
Gross carrying amount $ 1,000 1,000
1.55% Notes Due 2028    
Debt Instrument [Line Items]    
Interest rate (as percent) 1.55%  
Expected Remaining Term (years) 2 years 4 months 24 days  
Effective Interest Rate (as percent) 1.64%  
Gross carrying amount $ 1,250 1,250
2.85% Notes Due 2030    
Debt Instrument [Line Items]    
Interest rate (as percent) 2.85%  
Expected Remaining Term (years) 4 years 2 months 12 days  
Effective Interest Rate (as percent) 2.93%  
Gross carrying amount $ 1,500 1,500
2.00% Notes Due 2031    
Debt Instrument [Line Items]    
Interest rate (as percent) 2.00%  
Expected Remaining Term (years) 5 years 4 months 24 days  
Effective Interest Rate (as percent) 2.09%  
Gross carrying amount $ 1,250 1,250
3.50% Notes Due 2040    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.50%  
Expected Remaining Term (years) 14 years 2 months 12 days  
Effective Interest Rate (as percent) 3.54%  
Gross carrying amount $ 1,000 1,000
3.50% Notes Due 2050    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.50%  
Expected Remaining Term (years) 24 years 2 months 12 days  
Effective Interest Rate (as percent) 3.54%  
Gross carrying amount $ 2,000 2,000
3.70% Notes Due 2060    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.70%  
Expected Remaining Term (years) 34 years 2 months 12 days  
Effective Interest Rate (as percent) 3.73%  
Gross carrying amount $ 500 $ 500
v3.25.4
Debt - Narrative (Details) - USD ($)
Jan. 25, 2026
Dec. 31, 2025
Jan. 26, 2025
Debt Instrument [Line Items]      
Liabilities $ 7,500,000,000   $ 7,200,000,000
Commercial Paper Program | Commercial Paper      
Debt Instrument [Line Items]      
Maximum borrowing capacity 25,000,000,000.0 $ 575,000,000  
Outstanding commercial paper $ 0    
v3.25.4
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Jan. 29, 2023
Supply Commitment [Line Items]        
Warranty accrual $ 2,807 $ 1,290 $ 306 $ 82
Manufacturing Production And Long-Term Supply And Capacity Agreement Commitments        
Supply Commitment [Line Items]        
Other purchase obligations 95,200      
Multi-Year Cloud Service Agreement Commitments        
Supply Commitment [Line Items]        
Other purchase obligations 27,000      
2027 7,000      
2028 6,000      
2029 5,000      
2030 5,000      
2031 2,000      
2032 2,000      
Investment Commitments        
Supply Commitment [Line Items]        
Other purchase obligations 11,400      
Other Commitments        
Supply Commitment [Line Items]        
Other purchase obligations $ 3,400      
v3.25.4
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]      
Beginning Balance $ 1,290 $ 306 $ 82
Additions 2,474 1,203 278
Utilization (957) (219) (54)
Ending Balance $ 2,807 $ 1,290 $ 306
v3.25.4
Income Taxes - Components of Income Tax Expense (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Current income taxes:      
Federal $ 19,039 $ 14,032 $ 5,710
State 1,218 892 335
Foreign 2,550 699 502
Total current 22,807 15,623 6,547
Deferred income taxes:      
Federal (1,364) (4,515) (2,499)
State (885) (242) (206)
Foreign 825 280 216
Total deferred (1,424) (4,477) (2,489)
Income tax expense 21,383 11,146 4,058
Income before Income Taxes      
U.S. 123,181 77,456 29,495
Foreign 18,269 6,570 4,323
Income before income tax $ 141,450 $ 84,026 $ 33,818
v3.25.4
Income Taxes - Income Tax Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
US Federal Statutory Tax Rate $ 29,704 $ 17,645 $ 7,102
State income taxes, net of federal tax effect 258 554 120
Foreign tax effects   (984) (467)
Other (133) (6) (117)
Foreign-derived deduction eligible income (4,208) (2,976) (1,408)
Other (142)    
Nontaxable or nondeductible items (1,933)    
Stock-based compensation (1,475) (2,097) (741)
Other 29    
Income tax expense $ 21,383 $ 11,146 $ 4,058
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
US Federal Statutory Tax Rate 21.00% 21.00% 21.00%
State income taxes, net of federal tax effect 0.20% 0.70% 0.40%
Foreign tax effects   (1.20%) (1.40%)
Other (0.10%) 0.00% (0.30%)
Foreign-derived deduction eligible income (3.00%) (3.50%) (4.20%)
Other (0.10%)    
Tax credits (1.40%)    
Stock-based compensation (1.00%) (2.50%) (2.20%)
Other 0.00%    
Income tax expense 15.10% 13.30% 12.00%
Israel      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Foreign tax effects $ (3,064)    
Other $ 1,606    
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Foreign tax effects (2.20%)    
Other 1.20%    
Other      
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Foreign tax effects $ 741    
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Foreign tax effects 0.50%    
v3.25.4
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
US Federal Statutory Tax Rate $ 29,704 $ 17,645 $ 7,102
State income taxes, net of federal tax effect 258 554 120
Foreign-derived deduction eligible income (4,208) (2,976) (1,408)
Stock-based compensation (1,475) (2,097) (741)
U.S. federal research and development tax credit   (990) (431)
Foreign tax rate differential   (984) (467)
Other (133) (6) (117)
Income tax expense $ 21,383 $ 11,146 $ 4,058
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
US Federal Statutory Tax Rate 21.00% 21.00% 21.00%
State income taxes, net of federal tax effect 0.20% 0.70% 0.40%
Foreign-derived deduction eligible income (3.00%) (3.50%) (4.20%)
Stock-based compensation (1.00%) (2.50%) (2.20%)
U.S. federal research and development tax credit   (1.20%) (1.30%)
Foreign tax rate differential   (1.20%) (1.40%)
Other (0.10%) 0.00% (0.30%)
Income tax expense 15.10% 13.30% 12.00%
v3.25.4
Income Taxes - Income Tax Paid (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Income Tax Contingency [Line Items]      
Federal $ 16,755    
Total income taxes paid, net of refunds 20,288 $ 15,118 $ 6,549
California      
Income Tax Contingency [Line Items]      
State 1,049    
Other      
Income Tax Contingency [Line Items]      
State 1,041    
Israel      
Income Tax Contingency [Line Items]      
Foreign 1,287    
Other      
Income Tax Contingency [Line Items]      
Foreign $ 156    
v3.25.4
Income Taxes - Deferred Taxes (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Deferred tax assets:    
Capitalized research and development expenditure $ 5,436 $ 6,256
Net controlled foreign corporation tested income deferred tax assets 5,389 2,820
Accruals and reserves, not currently deductible for tax purposes 3,644 2,058
Research and other tax credit carryforwards 718 759
Operating lease liabilities 554 299
Net operating loss and capital loss carryforwards 443 456
Other deferred tax assets 679 566
Gross deferred tax assets 16,863 13,214
Less valuation allowance (768) (1,610)
Total deferred tax assets 16,095 11,604
Deferred tax liabilities:    
Equity investments (2,227) (264)
Unremitted earnings of foreign subsidiaries (1,813) (891)
Operating lease assets (533) (286)
Acquired intangibles (38) (70)
Gross deferred tax liabilities (4,611) (1,511)
Net deferred tax asset $ 11,484 $ 10,093
v3.25.4
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Income Tax Contingency [Line Items]      
Deferred tax assets $ 13,258 $ 10,979  
Deferred tax liability 1,774 886  
Undistributed earnings of foreign subsidiaries 1,400    
Valuation allowance 768 1,610  
Release of valuation allowance 711    
Unrecognized tax benefits that would affect effective tax rate 3,700    
Interest and taxes recognized related to unrecognized tax benefits 103 92 $ 42
Interest and penalties accrued 374 $ 251  
Federal      
Income Tax Contingency [Line Items]      
Net operating loss carryforwards 747    
Research tax credit carryforwards 56    
Federal | Capital Loss Carryforward      
Income Tax Contingency [Line Items]      
Federal capital loss carryforwards 902    
State      
Income Tax Contingency [Line Items]      
Net operating loss carryforwards 427    
Research tax credit carryforwards 1,400    
Foreign      
Income Tax Contingency [Line Items]      
Net operating loss carryforwards 503    
California      
Income Tax Contingency [Line Items]      
Research tax credit carryforwards 1,300    
Other states      
Income Tax Contingency [Line Items]      
Research tax credit carryforwards $ 132    
v3.25.4
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Unrecognized Tax Benefits [Roll Forward]      
Balance at beginning of period $ 2,861 $ 1,670 $ 1,238
Increases in tax positions for current year 1,959 1,268 616
Increases in tax positions for prior years 57 48 87
Lapse in statute of limitations (224) (27) (19)
Decreases in tax positions for prior years (157) (88) (148)
Settlements (76) (10) (104)
Balance at end of period $ 4,420 $ 2,861 $ 1,670
v3.25.4
Shareholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
1 Months Ended 12 Months Ended
Aug. 26, 2025
Feb. 20, 2026
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Equity, Class of Treasury Stock [Line Items]          
Additional number of shares authorized to be repurchased $ 60,000        
Number of share repurchased (in shares)     282 310  
Shares repurchased     $ 40,388 $ 34,015 $ 9,746
Stock repurchase program, remaining authorized amount     58,500    
Dividends paid     974 834 395
Subsequent Event          
Equity, Class of Treasury Stock [Line Items]          
Number of share repurchased (in shares)   8      
Shares repurchased   $ 1,500      
Additional Paid-in Capital          
Equity, Class of Treasury Stock [Line Items]          
Shares repurchased     230 189 27
Retained Earnings          
Equity, Class of Treasury Stock [Line Items]          
Shares repurchased     $ 40,158 $ 33,825 $ 9,719
v3.25.4
Employee Retirement Plans (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Retirement Benefits [Abstract]      
Defined contribution plan costs $ 442 $ 314 $ 255
v3.25.4
Segment Information - Narrative (Details)
$ in Millions
12 Months Ended
Jan. 25, 2026
USD ($)
segment
Jan. 26, 2025
USD ($)
Jan. 28, 2024
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | segment 2    
Depreciation and amortization $ 2,843 $ 1,864 $ 1,508
Non-US | Revenue | Customer Concentration Risk      
Segment Reporting Information [Line Items]      
Concentration risk (as percent) 31.00% 41.00% 48.00%
Compute & Networking      
Segment Reporting Information [Line Items]      
Depreciation and amortization $ 1,600 $ 732 $ 457
Compute & Networking | Revenue | Customer Concentration Risk | Customer one      
Segment Reporting Information [Line Items]      
Concentration risk (as percent) 22.00% 12.00% 13.00%
Compute & Networking | Revenue | Customer Concentration Risk | Customer two      
Segment Reporting Information [Line Items]      
Concentration risk (as percent) 14.00% 11.00%  
Graphics      
Segment Reporting Information [Line Items]      
Depreciation and amortization $ 590 $ 372 $ 307
v3.25.4
Segment Information - Reportable Segments (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Segment Reporting Information [Line Items]      
Revenue $ 215,938 $ 130,497 $ 60,922
Operating income 130,387 81,453 32,972
Operating Segments      
Segment Reporting Information [Line Items]      
Revenue 215,938 130,497 60,922
Other segment items 76,641 42,537 23,060
Operating income 139,297 87,960 37,862
Compute & Networking | Operating Segments      
Segment Reporting Information [Line Items]      
Revenue 193,479 116,193 47,405
Other segment items 63,338 33,318 15,389
Operating income 130,141 82,875 32,016
Graphics | Operating Segments      
Segment Reporting Information [Line Items]      
Revenue 22,459 14,304 13,517
Other segment items 13,303 9,219 7,671
Operating income $ 9,156 $ 5,085 $ 5,846
v3.25.4
Segment Information - Reconciling Items (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Segment Reporting Information [Line Items]      
Segment operating income $ 130,387 $ 81,453 $ 32,972
Stock-based compensation expense (6,386) (4,737) (3,549)
Interest income 2,300 1,786 866
Interest expense (259) (247) (257)
Other income, net 9,022 1,034 237
Income before income tax 141,450 84,026 33,818
All Other      
Segment Reporting Information [Line Items]      
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
Income before income tax $ 141,450 $ 84,026 $ 33,818
v3.25.4
Segment Information - Revenue and Long-lived Assets by Region (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Revenues and Long-Lived Assets      
Total revenue $ 215,938 $ 130,497 $ 60,922
Total long-lived assets 10,383 6,283  
United States      
Revenues and Long-Lived Assets      
Total revenue 149,617 77,482 31,533
Total long-lived assets 5,125 3,626  
Taiwan      
Revenues and Long-Lived Assets      
Total revenue 42,345 23,600 14,912
Total long-lived assets $ 3,219 1,481  
Taiwan | Revenue | Customer Concentration Risk | United States And Europe Based End Customers      
Revenues and Long-Lived Assets      
Concentration risk (as percent) 76.00%    
China (including Hong Kong)      
Revenues and Long-Lived Assets      
Total revenue $ 19,677 25,048 12,330
Israel      
Revenues and Long-Lived Assets      
Total long-lived assets 1,471 840  
Other      
Revenues and Long-Lived Assets      
Total revenue 4,299 4,367 $ 2,147
Total long-lived assets $ 568 $ 336  
v3.25.4
Segment Information - Schedule of Revenue by Market (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Revenue from External Customer [Line Items]      
Revenue $ 215,938 $ 130,497 $ 60,922
Data Center      
Revenue from External Customer [Line Items]      
Revenue 193,737 115,186 47,525
Compute      
Revenue from External Customer [Line Items]      
Revenue 162,361 102,196 38,950
Networking      
Revenue from External Customer [Line Items]      
Revenue 31,376 12,990 8,575
Gaming      
Revenue from External Customer [Line Items]      
Revenue 16,042 11,350 10,447
Professional Visualization      
Revenue from External Customer [Line Items]      
Revenue 3,191 1,878 1,553
Automotive      
Revenue from External Customer [Line Items]      
Revenue 2,349 1,694 1,091
OEM and Other      
Revenue from External Customer [Line Items]      
Revenue $ 619 $ 389 $ 306
v3.25.4
Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($)
$ in Millions
Jan. 25, 2026
Jan. 26, 2025
Leases [Abstract]    
2027 $ 493  
2028 485  
2029 457  
2030 381  
2031 314  
2032 and thereafter 1,494  
Total 3,624  
Less imputed interest 680  
Present value of net future minimum lease payments $ 2,944  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued and other current liabilities  
Less short-term operating lease liabilities $ 372  
Long-term operating lease liabilities $ 2,572 $ 1,519
v3.25.4
Leases - Narrative (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Lessee, Lease, Description [Line Items]      
Lease not yet commenced, undiscounted amount $ 22,700    
Operating lease expense $ 462 $ 356 $ 269
Weighted average remaining lease term - operating leases 8 years 9 months 18 days 6 years 6 months  
Weighted average discount rate - operating leases 4.38% 4.16%  
Minimum      
Lessee, Lease, Description [Line Items]      
Lease not yet commenced, term of contract 1 year 9 months 18 days    
Maximum      
Lessee, Lease, Description [Line Items]      
Lease not yet commenced, term of contract 20 years    
v3.25.4
Leases - Schedule of other lease information (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Leases [Abstract]      
Operating cash flow used for operating leases $ 428 $ 313 $ 286
Operating lease assets obtained in exchange for lease obligations $ 1,439 $ 877 $ 531
v3.25.4
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
12 Months Ended
Jan. 25, 2026
Jan. 26, 2025
Jan. 28, 2024
Allowance for doubtful accounts      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period $ 4 $ 4 $ 4
Additions 0 0 0
Deductions 0 0 0
Balance at End of Period 4 4 4
Sales return allowance      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period 82 109 26
Additions 188 151 213
Deductions (100) (178) (130)
Balance at End of Period 170 82 109
Deferred tax valuation allowance      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period 1,610 1,552 1,484
Additions 31 58 162
Deductions (873) 0 (94)
Balance at End of Period $ 768 $ 1,610 $ 1,552