NVIDIA CORP, 10-Q filed on 11/20/2024
Quarterly Report
v3.24.3
Cover - shares
shares in Millions
9 Months Ended
Oct. 27, 2024
Nov. 15, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Oct. 27, 2024  
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, $0.001 par value per share  
Trading Symbol NVDA  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   24,490
Entity Central Index Key 0001045810  
Current Fiscal Year End Date --01-26  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.24.3
Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Income Statement [Abstract]        
Revenue $ 35,082 $ 18,120 $ 91,166 $ 38,819
Cost of revenue 8,926 4,720 22,031 11,309
Gross profit 26,156 13,400 69,135 27,510
Operating expenses        
Research and development 3,390 2,294 9,200 6,210
Sales, general and administrative 897 689 2,516 1,942
Total operating expenses 4,287 2,983 11,716 8,152
Operating income 21,869 10,417 57,419 19,358
Interest income 472 234 1,275 572
Interest expense (61) (63) (186) (194)
Other, net 36 (66) 301 (24)
Other income (expense), net 447 105 1,390 354
Income before income tax 22,316 10,522 58,809 19,712
Income tax expense 3,007 1,279 8,020 2,237
Net income $ 19,309 $ 9,243 $ 50,789 $ 17,475
Net income per share:        
Basic (in dollars per share) $ 0.79 $ 0.37 $ 2.07 $ 0.71
Diluted (in dollars per share) $ 0.78 $ 0.37 $ 2.04 $ 0.70
Weighted average shares used in per share computation:        
Basic (in shares) 24,533 24,680 24,577 24,700
Diluted (in shares) 24,774 24,940 24,837 24,940
v3.24.3
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 19,309 $ 9,243 $ 50,789 $ 17,475
Available-for-sale securities:        
Net change in unrealized gain 49 0 71 7
Cash flow hedges:        
Net change in unrealized gain (loss) 0 (23) 20 (14)
Reclassification adjustments for net realized loss included in net income (2) (14) (15) (38)
Net change in unrealized gain (loss) (2) (37) 5 (52)
Other comprehensive income (loss), net of tax 47 (37) 76 (45)
Total comprehensive income $ 19,356 $ 9,206 $ 50,865 $ 17,430
v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Current assets:    
Cash and cash equivalents $ 9,107 $ 7,280
Marketable securities 29,380 18,704
Accounts receivable, net 17,693 9,999
Inventories 7,654 5,282
Prepaid expenses and other current assets 3,806 3,080
Total current assets 67,640 44,345
Property and equipment, net 5,343 3,914
Operating lease assets 1,755 1,346
Goodwill 4,724 4,430
Intangible assets, net 838 1,112
Deferred income tax assets 10,276 6,081
Other assets 5,437 4,500
Total assets 96,013 65,728
Current liabilities:    
Accounts payable 5,353 2,699
Accrued and other current liabilities 11,126 6,682
Short-term debt 0 1,250
Total current liabilities 16,479 10,631
Long-term debt 8,462 8,459
Long-term operating lease liabilities 1,490 1,119
Other long-term liabilities 3,683 2,541
Total liabilities 30,114 22,750
Commitments and contingencies - see Note 12
Shareholders’ equity:    
Preferred stock 0 0
Common stock 25 25
Additional paid-in capital 11,821 13,109
Accumulated other comprehensive income 103 27
Retained earnings 53,950 29,817
Total shareholders' equity 65,899 42,978
Total liabilities and shareholders' equity $ 96,013 $ 65,728
v3.24.3
Condensed 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 17,475       17,475
Other comprehensive income (loss) (45)     (45)  
Issuance of common stock from stock plans (in shares)   214      
Issuance of common stock from stock plans  403   403    
Tax withholding related to vesting of restricted stock units (in shares)   (54)      
Tax withholding related to vesting of restricted stock units $ (1,942)   (1,942)    
Shares repurchased (in shares) (159) (159)      
Shares repurchased $ (7,005)   (15)   (6,990)
Cash dividends declared and paid (296)       (296)
Stock-based compensation 2,574   2,574    
Ending balance, common stock outstanding (in shares) at Oct. 29, 2023   24,662      
Ending balances, shareholders' equity at Oct. 29, 2023 33,265 $ 25 12,968 (88) 20,360
Beginning balance, common stock outstanding (in shares) at Jul. 30, 2023   24,692      
Beginning balances, shareholders' equity at Jul. 30, 2023 27,501 $ 25 12,606 (51) 14,921
Increase (Decrease) in Shareholders' Equity          
Net income 9,243       9,243
Other comprehensive income (loss) (37)     (37)  
Issuance of common stock from stock plans (in shares)   71      
Issuance of common stock from stock plans  157   157    
Tax withholding related to vesting of restricted stock units (in shares)   (18)      
Tax withholding related to vesting of restricted stock units $ (764)   (764)    
Shares repurchased (in shares) (83) (83)      
Shares repurchased $ (3,719)   (14)   (3,705)
Cash dividends declared and paid (99)       (99)
Stock-based compensation 983   983    
Ending balance, common stock outstanding (in shares) at Oct. 29, 2023   24,662      
Ending balances, shareholders' equity at Oct. 29, 2023 33,265 $ 25 12,968 (88) 20,360
Beginning balance, common stock outstanding (in shares) at Jan. 28, 2024   24,643      
Beginning balances, shareholders' equity at Jan. 28, 2024 42,978 $ 25 13,109 27 29,817
Increase (Decrease) in Shareholders' Equity          
Net income 50,789       50,789
Other comprehensive income (loss) 76     76  
Issuance of common stock from stock plans (in shares)   165      
Issuance of common stock from stock plans  489   489    
Tax withholding related to vesting of restricted stock units (in shares)   (46)      
Tax withholding related to vesting of restricted stock units $ (5,068)   (5,068)    
Shares repurchased (in shares) (254) (254)      
Shares repurchased $ (26,208)   (141)   (26,067)
Cash dividends declared and paid (589)       (589)
Stock-based compensation 3,432   3,432    
Ending balance, common stock outstanding (in shares) at Oct. 27, 2024   24,508      
Ending balances, shareholders' equity at Oct. 27, 2024 65,899 $ 25 11,821 103 53,950
Beginning balance, common stock outstanding (in shares) at Jul. 28, 2024   24,562      
Beginning balances, shareholders' equity at Jul. 28, 2024 58,157 $ 25 12,115 56 45,961
Increase (Decrease) in Shareholders' Equity          
Net income 19,309       19,309
Other comprehensive income (loss) 47     47  
Issuance of common stock from stock plans (in shares)   53      
Issuance of common stock from stock plans  204   204    
Tax withholding related to vesting of restricted stock units (in shares)   (15)      
Tax withholding related to vesting of restricted stock units $ (1,680)   (1,680)    
Shares repurchased (in shares) (92) (92)      
Shares repurchased $ (11,146)   (71)   (11,075)
Cash dividends declared and paid (245)       (245)
Stock-based compensation 1,253   1,253    
Ending balance, common stock outstanding (in shares) at Oct. 27, 2024   24,508      
Ending balances, shareholders' equity at Oct. 27, 2024 $ 65,899 $ 25 $ 11,821 $ 103 $ 53,950
v3.24.3
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Statement of Stockholders' Equity [Abstract]        
Common stock, dividends per share, declared and paid (in dollars per share) $ 0.01 $ 0.004 $ 0.024 $ 0.012
v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Cash flows from operating activities:    
Net income $ 50,789 $ 17,475
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 3,416 2,555
Depreciation and amortization 1,321 1,121
(Gains) losses on investments in non-affiliated entities and publicly-held equity securities, net (302) 24
Deferred income taxes (3,879) (2,411)
Other (365) (170)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (7,694) (4,482)
Inventories (2,357) 405
Prepaid expenses and other assets (726) (337)
Accounts payable 2,490 1,250
Accrued and other current liabilities 3,918 953
Other long-term liabilities 849 208
Net cash provided by operating activities 47,460 16,591
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 9,485 8,001
Proceeds from sales of marketable securities 318 0
Proceeds from sales of investments in non-affiliated entities 171 0
Purchases of marketable securities (19,565) (10,688)
Purchases related to property and equipment and intangible assets (2,159) (815)
Purchases of investments in non-affiliated entities (1,008) (897)
Acquisitions, net of cash acquired (465) (83)
Other 0 25
Net cash used in investing activities (13,223) (4,457)
Cash flows from financing activities:    
Proceeds related to employee stock plans 489 403
Payments related to repurchases of common stock (25,895) (6,874)
Payments related to tax on restricted stock units (5,068) (1,942)
Repayment of debt (1,250) (1,250)
Dividends paid (589) (296)
Principal payments on property and equipment and intangible assets (97) (44)
Other 0 (1)
Net cash used in financing activities (32,410) (10,004)
Change in cash, cash equivalents, and restricted cash 1,827 2,130
Cash, cash equivalents, and restricted cash at beginning of period 7,280 3,389
Cash, cash equivalents, and restricted cash at end of period 9,107 5,519
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net $ 10,989 $ 4,676
v3.24.3
Summary of Significant Accounting Policies
9 Months Ended
Oct. 27, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission, or SEC, Regulation S-X. The January 28, 2024 consolidated balance sheet was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2024, as filed with the SEC, but does not include all disclosures required by U.S. GAAP. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for a fair presentation of results of operations and financial position, have been included. The results for the interim periods presented are not necessarily indicative of the results expected for any future period. The following information should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2024.
In May 2024, we announced a ten-for-one stock split, or the Stock Split, of our issued common stock, which was effected through the filing of an amendment to the Company's Restated Certificate of Incorporation, or the Amendment, with the Secretary of the State of Delaware. In June 2024, the Company filed the Amendment to effect the Stock Split and proportionately increased the number of shares of the Company’s authorized common stock from 8.0 billion to 80.0 billion. Shareholders of record at the close of market on June 6, 2024 received nine additional shares of common stock, distributed after the close of market on June 7, 2024. All share, equity award and per share amounts presented herein have been retrospectively adjusted to reflect the Stock Split.
Significant Accounting Policies
There have been no material changes to our significant accounting policies disclosed in Note 1 - Organization and Summary of Significant Accounting Policies, of the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2024.
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2025 and 2024 are both 52-week years. The third quarters of fiscal years 2025 and 2024 were both 13-week quarters.
Principles of Consolidation
Our condensed 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, other contingencies, property, plant, and equipment, revenue recognition, and stock-based compensation. These estimates are based on historical facts and other assumptions that we believe are reasonable.
Recently Issued Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board, or FASB, issued a new accounting standard requiring disclosures of significant expenses in operating segments. We expect to adopt this standard in our fiscal year 2025 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
In December 2023, the FASB issued a new accounting standard which includes new and updated income tax disclosures, including disaggregation of rate reconciliation and income taxes paid. We expect to adopt this standard in our fiscal year 2026 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
In November 2024, the 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 expect to adopt this standard in our fiscal year 2028 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
v3.24.3
Leases
9 Months Ended
Oct. 27, 2024
Leases [Abstract]  
Leases Leases
Our lease obligations primarily consist of operating leases for our headquarters' campus and domestic and international offices and data centers, with lease periods expiring between fiscal years 2025 and 2036.
Future minimum lease obligations under our non-cancelable lease agreements as of October 27, 2024 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$78 
2026336 
2027340 
2028320 
2029288 
2030 and thereafter
667 
Total2,029 
Less imputed interest266 
Present value of net future minimum lease payments1,763 
Less short-term operating lease liabilities273 
Long-term operating lease liabilities$1,490 
Between the fourth quarter of fiscal year 2025 and fiscal year 2027, we expect to commence leases with future obligations of $4.2 billion primarily of data center and office operating leases, with lease terms of 1.5 to 15.5 years.
Operating lease expenses were $92 million and $69 million for the third quarter, and $258 million and $195 million for the first nine months, of fiscal years 2025 and 2024, respectively. Short-term and variable lease expenses for the third quarter and first nine months of fiscal years 2025 and 2024 were not significant.
Other information related to leases was as follows:
Nine Months Ended
Oct 27, 2024Oct 29, 2023
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$227 $200 
Operating lease assets obtained in exchange for lease obligations$679 $439 
As of October 27, 2024, our operating leases have a weighted average remaining lease term of 6.5 years and a weighted average discount rate of 4.15%. As of January 28, 2024, our operating leases had a weighted average remaining lease term of 6.1 years and a weighted average discount rate of 3.76%.
v3.24.3
Stock-Based Compensation
9 Months Ended
Oct. 27, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock-based compensation expense is associated with restricted stock units, or RSUs, performance stock units, or PSUs, that are based on our corporate financial performance targets, market-based PSUs that are performance stock units based on our performance compared to market performance, and the employee stock purchase plan, or ESPP.
Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts capitalized into inventory and subsequently recognized to cost of revenue, as follows:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Cost of revenue$50 $38 $125 $96 
Research and development910 701 2,469 1,826 
Sales, general and administrative292 240 822 633 
Total$1,252 $979 $3,416 $2,555 
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 SharesWeighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balance as of Jan 28, 2024
367 $24.59 
Granted84 $84.70 
Vested(135)$23.03 
Canceled and forfeited(8)$31.23 
Balance as of Oct 27, 2024
308 $41.45 
As of October 27, 2024, aggregate unearned stock-based compensation expense was $12.4 billion, which is expected to be recognized over a weighted average period of 2.3 years for RSUs, PSUs, and market-based PSUs, and one year for ESPP.
v3.24.3
Net Income Per Share
9 Months Ended
Oct. 27, 2024
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
The following is a reconciliation of the denominator of the basic and diluted net income per share computations for the periods presented:
 Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions, except per share data)
Numerator:  
Net income$19,309 $9,243 $50,789 $17,475 
Denominator:
Basic weighted average shares24,533 24,680 24,577 24,700 
Dilutive impact of outstanding equity awards241 260 260 240 
Diluted weighted average shares24,774 24,940 24,837 24,940 
Net income per share:
Basic (1)$0.79 $0.37 $2.07 $0.71 
Diluted (2)$0.78 $0.37 $2.04 $0.70 
Anti-dilutive equity awards excluded from diluted net income per share10 72 140 
(1)    Net income divided by basic weighted average shares.
(2)    Net income divided by diluted weighted average shares.
Diluted net income per share was computed using the weighted average number of common and potentially dilutive shares outstanding during the period, using the treasury stock method.
v3.24.3
Income Taxes
9 Months Ended
Oct. 27, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense was $3.0 billion and $1.3 billion for the third quarter, and $8.0 billion and $2.2 billion for the first nine months, of fiscal years 2025 and 2024, respectively. The income tax expense as a percentage of income before income
tax was 13.5% and 12.2% for the third quarter, and 13.6% and 11.3% for the first nine months, of fiscal years 2025 and 2024, respectively.
The effective tax rate increased primarily due to a lower percentage of tax benefits from the foreign-derived intangible income deduction relative to the increase in income before income tax and a discrete benefit in fiscal year 2024 due to an IRS audit resolution.
Effective tax rates for the first nine months of fiscal years 2025 and 2024 were lower than the U.S. federal statutory rate of 21% due to tax benefits from the foreign-derived intangible income deduction, stock-based compensation, the U.S. federal research tax credit, and income earned in jurisdictions that are subject to taxes lower than the U.S. federal statutory tax rate.
Given our current and possible future earnings, we believe that we may release the valuation allowance associated with certain state deferred tax assets in the near term, which would decrease our income tax expense for the period the release is recorded. The timing and amount of the valuation allowance release could vary based on our assessment of all available information.
While we believe that we have adequately provided for all uncertain tax positions, or tax positions where we believe it is not more-likely-than-not that the position will be sustained upon review, amounts asserted by tax authorities could be greater or less than our accrued position. Accordingly, our provisions on federal, state and foreign tax related matters to be recorded in the future may change as revised estimates are made or the underlying matters are settled or otherwise resolved with the respective tax authorities. As of October 27, 2024, we do not believe that our estimates, as otherwise provided for, on such tax positions will significantly increase or decrease within the next 12 months.
v3.24.3
Cash Equivalents and Marketable Securities
9 Months Ended
Oct. 27, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities 
The following is a summary of cash equivalents and marketable securities:
 Oct 27, 2024
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Debt securities issued by the U.S. Treasury$14,629 $72 $(12)$14,689 $1,795 $12,894 
Corporate debt securities14,221 74 (17)14,278 1,154 13,124 
Money market funds5,147 — — 5,147 5,147 — 
Debt securities issued by U.S. government agencies3,542 11 (4)3,549 759 2,790 
Certificates of deposit142 — — 142 42 100 
Total debt securities with fair value adjustments recorded in other comprehensive income37,681 157 (33)37,805 8,897 28,908 
Publicly-held equity securities (1)472 — 472 
Total$37,681 $157 $(33)$38,277 $8,897 $29,380 
(1)    Fair value adjustments on publicly-held equity securities are recorded in net income. Beginning in the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.
Net unrealized gains on investments in publicly-held equity securities were not significant and $195 million for the third quarter and first nine months of fiscal year 2025, respectively. Net unrealized gains on investments in publicly-held equity securities were not significant for the third quarter and first nine months of fiscal year 2024.
 Jan 28, 2024
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$10,126 $31 $(5)$10,152 $2,231 $7,921 
Debt securities issued by the U.S. Treasury9,517 17 (10)9,524 1,315 8,209 
Money market funds3,031 — — 3,031 3,031 — 
Debt securities issued by U.S. government agencies2,326 (1)2,333 89 2,244 
Certificates of deposit510 — — 510 294 216 
Foreign government bonds174 — — 174 60 114 
Total debt securities with fair value changes recorded in other comprehensive income$25,684 $56 $(16)$25,724 $7,020 $18,704 
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:
Oct 27, 2024
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Corporate debt securities$2,967 $(17)$105 $— $3,072 $(17)
Debt securities issued by the U.S. Treasury2,562 (12)532 — 3,094 (12)
Debt securities issued by U.S. government agencies1,134 (4)21 — 1,155 (4)
Total$6,663 $(33)$658 $— $7,321 $(33)
Jan 28, 2024
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$3,343 $(5)$1,078 $(5)$4,421 $(10)
Corporate debt securities1,306 (3)618 (2)1,924 (5)
Debt securities issued by U.S. government agencies670 (1)— — 670 (1)
Total$5,319 $(9)$1,696 $(7)$7,015 $(16)
Gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates.
The amortized cost and estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.
Oct 27, 2024Jan 28, 2024
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$17,695 $17,715 $16,336 $16,329 
Due in 1 - 5 years19,986 20,090 9,348 9,395 
Total$37,681 $37,805 $25,684 $25,724 
v3.24.3
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities
9 Months Ended
Oct. 27, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities
The fair values of our financial assets and liabilities 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.
Pricing CategoryFair Value at
Oct 27, 2024Jan 28, 2024
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$5,147 $3,031 
Publicly-held equity securitiesLevel 1$472 $— 
Debt securities issued by the U.S. TreasuryLevel 2$14,689 $9,524 
Corporate debt securitiesLevel 2$14,278 $10,152 
Debt securities issued by U.S. government agenciesLevel 2$3,549 $2,333 
Certificates of depositLevel 2$142 $510 
Foreign government bondsLevel 2$— $174 
Other assets (Investments in non-affiliated entities):
Publicly-held equity securitiesLevel 1$— $225 
Liabilities (1)
0.584% Notes Due 2024
Level 2$— $1,228 
3.20% Notes Due 2026
Level 2$982 $970 
1.55% Notes Due 2028
Level 2$1,139 $1,115 
2.85% Notes Due 2030
Level 2$1,391 $1,367 
2.00% Notes Due 2031
Level 2$1,079 $1,057 
3.50% Notes Due 2040
Level 2$847 $851 
3.50% Notes Due 2050
Level 2$1,556 $1,604 
3.70% Notes Due 2060
Level 2$388 $403 
(1)    Liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
Investments in Non-Affiliated Entities
Our investments in non-affiliated entities include non-marketable equity securities, which are primarily investments in privately held companies. Beginning in the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.
Our non-marketable equity securities are recorded in long-term other assets on our Condensed Consolidated Balance Sheets and valued under the measurement alternative. Gains and losses on these investments, realized and unrealized, are recognized in Other income and expense, net on our Condensed Consolidated Statements of Income.
Adjustments to the carrying value of our non-marketable equity securities during the third quarter and first nine months of fiscal years 2025 and 2024 were as follows:
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$1,819 $676 $1,321 $288 
Adjustments related to non-marketable equity securities:
Net additions409 341 830 743 
Unrealized gains23 115 
Impairments and unrealized losses(14)(1)(29)(15)
Balance at end of period$2,237 $1,019 $2,237 $1,019 
Non-marketable equity securities had cumulative gross unrealized gains of $374 million and cumulative gross losses and impairments of $74 million as of October 27, 2024.
v3.24.3
Amortizable Intangible Assets and Goodwill
9 Months Ended
Oct. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets and Goodwill Amortizable Intangible Assets and Goodwill
The components of our amortizable intangible assets are as follows:
 Oct 27, 2024Jan 28, 2024
 Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets$2,785 $(2,117)$668 $2,642 $(1,720)$922 
Patents and licensed technology444 (274)170 449 (259)190 
Total intangible assets$3,229 $(2,391)$838 $3,091 $(1,979)$1,112 
Amortization expense associated with intangible assets was $149 million and $144 million for the third quarter, and $438 million and $471 million for the first nine months, of fiscal years 2025 and 2024, respectively.
The following table outlines the estimated amortization expense related to the net carrying amount of intangible assets as of October 27, 2024:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$150 
2026317 
2027203 
202857 
202910 
2030 and thereafter101 
Total$838 
In the first nine months of fiscal year 2025, goodwill increased by $294 million from business combinations assigned to our Compute & Networking reporting unit.
v3.24.3
Balance Sheet Components
9 Months Ended
Oct. 27, 2024
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 add-in board manufacturers, distributors, original device manufacturers, or ODMs, original equipment manufacturers, or OEMs, and system integrators. Four direct customers accounted for 18%, 13%, 11% and 11% of our accounts receivable balance as of October 27, 2024. Two direct customers accounted for 24% and 11% of our accounts receivable balance as of January 28, 2024.
Certain balance sheet components are as follows:
 Oct 27, 2024Jan 28, 2024
Inventories:(In millions)
Raw materials$1,846 $1,719 
Work in process2,881 1,505 
Finished goods2,927 2,058 
Total inventories (1)$7,654 $5,282 
(1)    We recorded an inventory provision of $322 million and $208 million for the third quarter, and $876 million and $657 million for the first nine months, of fiscal years 2025 and 2024, respectively, in cost of revenue.
 Oct 27, 2024Jan 28, 2024
Other Assets (Long Term):(In millions)
Investments in non-affiliated entities$2,237 $1,546 
Prepaid supply and capacity agreements (1)2,041 2,458 
Income tax receivable568 — 
Prepaid royalties346 364 
Other245 132 
Total other assets$5,437 $4,500 
(1)    Prepaid supply and capacity agreements of $3.2 billion and $2.5 billion were included in Prepaid expenses and other current assets as of October 27, 2024 and January 28, 2024, respectively.
 Oct 27, 2024Jan 28, 2024
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$4,740 $2,081 
Excess inventory purchase obligations (1)1,728 1,655 
Taxes payable1,356 296 
Product warranty and return provisions1,107 415 
Deferred revenue (2)752 764 
Accrued payroll and related expenses677 675 
Operating leases273 228 
Unsettled share repurchases180 187 
Licenses and royalties148 182 
Other165 199 
Total accrued and other current liabilities$11,126 $6,682 
(1)    We recorded $543 million and $473 million for the third quarter, and $1.3 billion and $734 million for the first nine months, of fiscal years 2025 and 2024, respectively, in cost of revenue.

(2)    Includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of October 27, 2024 and January 28, 2024 included $101 million and $233 million of customer advances, respectively.
 Oct 27, 2024Jan 28, 2024
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,945 $1,361 
Deferred revenue (2)833 573 
Deferred income tax790 462 
Other115 145 
Total other long-term liabilities$3,683 $2,541 
(1)    Income tax payable is comprised of the long-term portion of the one-time transition tax payable, unrecognized tax benefits, and related interest and penalties.

(2)    Includes unearned revenue related to hardware support, software support and cloud services.
Deferred Revenue
The following table shows the changes in short- and long-term deferred revenue during the first nine months of fiscal years 2025 and 2024:
Nine Months Ended
 Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$1,337 $572 
Deferred revenue additions2,115 1,269 
Revenue recognized(1,867)(903)
Balance at end of period$1,585 $938 
We recognized revenue of $585 million and $256 million in the first nine months of fiscal years 2025 and 2024, respectively, that were included in the prior year end deferred revenue balances.
As of October 27, 2024, revenue related to remaining performance obligations from contracts greater than one year in length was $1.6 billion, which includes $1.4 billion from deferred revenue and $187 million which has not yet been billed nor recognized as revenue. Approximately 37% of revenue from contracts greater than one year in length will be recognized over the next twelve months.
v3.24.3
Derivative Financial Instruments
9 Months Ended
Oct. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
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 cash flow 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 or ineffectiveness should occur.
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:
 Oct 27, 2024Jan 28, 2024
(In millions)
Designated as cash flow hedges$1,360 $1,168 
Non-designated hedges$728 $597 
The unrealized gains and losses or fair value of our foreign currency contracts were not significant as of October 27, 2024 and January 28, 2024.
As of October 27, 2024, all designated foreign currency contracts mature within 18 months and any unrealized gains and losses were not significant.
During the first nine months of fiscal years 2025 and 2024, the impact of derivative financial instruments designated for cash flow hedges was not significant and the instruments were determined to be highly effective.
v3.24.3
Debt
9 Months Ended
Oct. 27, 2024
Debt Disclosure [Abstract]  
Debt Debt
Long-Term Debt
Expected
Remaining Term (years)
Effective
Interest Rate
Carrying Value at
Oct 27, 2024Jan 28, 2024
(In millions)
0.584% Notes Due 2024 (1)
0.66%$— $1,250 
3.20% Notes Due 2026
1.93.31%1,000 1,000 
1.55% Notes Due 2028
3.61.64%1,250 1,250 
2.85% Notes Due 2030
5.42.93%1,500 1,500 
2.00% Notes Due 2031
6.62.09%1,250 1,250 
3.50% Notes Due 2040
15.43.54%1,000 1,000 
3.50% Notes Due 2050
25.43.54%2,000 2,000 
3.70% Notes Due 2060
35.43.73%500 500 
Unamortized debt discount and issuance costs(38)(41)
Net carrying amount8,462 9,709 
Less short-term portion— (1,250)
Total long-term portion$8,462 $8,459 
(1) We repaid the 0.584% Notes Due 2024 in the second quarter of fiscal year 2025.
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, as defined in the applicable form of note. The maturity of the notes is calendar year.
As of October 27, 2024, we complied with the required covenants, which are non-financial in nature, under the outstanding notes.
Commercial Paper
We have a $575 million commercial paper program to support general corporate purposes. As of October 27, 2024, we had no commercial paper outstanding.
v3.24.3
Commitments and Contingencies
9 Months Ended
Oct. 27, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Purchase Obligations
Our purchase obligations reflect our commitment to purchase components used to manufacture our products, including long-term supply and capacity agreements, certain software and technology licenses, other goods and services and long-lived assets.
As of October 27, 2024, we had outstanding inventory purchase and long-term supply and capacity obligations totaling $28.9 billion, an increase from the prior year primarily due to commitments for Blackwell capacity and components. We enter into agreements with contract manufacturers 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. Though, changes to these agreements may result in additional costs. Other non-inventory purchase obligations were $13.2 billion, including $11.3 billion of multi-year cloud service agreements. We expect our cloud service agreements to primarily be used to support our research and development efforts, as well as our DGX Cloud offerings.
Total future purchase commitments as of October 27, 2024 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$14,178 
202618,895 
20273,381 
20282,979 
20291,990 
2030 and thereafter
621 
Total$42,044 
Accrual for Product Warranty Liabilities
The estimated amount of product warranty liabilities was $1.0 billion and $306 million as of October 27, 2024 and January 28, 2024, respectively. The estimated product returns and product warranty activity consisted of the following:
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$741 $115 $306 $82 
Additions304 50 775 105 
Utilization(36)(23)(72)(45)
Balance at end of period$1,009 $142 $1,009 $142 
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 Condensed 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 November 21, 2023, NVIDIA filed a motion with the Ninth Circuit for a stay of the mandate pending NVIDIA’s petition for a writ of certiorari in the Supreme Court of the United States and the Supreme Court’s resolution of the matter. On December 5, 2023, the Ninth Circuit granted NVIDIA’s motion to stay the mandate. 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. Briefing concluded on October 25, 2024 and the Supreme Court heard oral arguments on November 13, 2024.
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 stay remains in place. 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-UNA) and Nelson v. Huang, et. al. (Case No. 1:19-cv-01798- UNA), remain stayed pending resolution of the plaintiffs’ appeal in 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. This derivative matter is stayed pending the final resolution of In Re NVIDIA Corporation Securities Litigation action.
Accounting for Loss Contingencies
As of October 27, 2024, there are no accrued contingent liabilities associated with the legal proceedings described above based on our belief that liabilities, while possible, are not probable. Further, except as described above, 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 and, while there can be no assurance of favorable outcomes, we believe that the ultimate outcome of these actions will not have a material adverse effect on our operating results, liquidity or financial position.
v3.24.3
Shareholders' Equity
9 Months Ended
Oct. 27, 2024
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity 
Capital Return Program 
We repurchased 92 million and 83 million shares of our common stock for $11.1 billion and $3.7 billion during the third quarter, and 254 million and 159 million shares of our common stock for $26.2 billion and $7 billion during the first nine months, of fiscal years 2025 and 2024, respectively. On August 26, 2024, our Board of Directors approved an additional $50 billion to our share repurchase authorization, without expiration. As of October 27, 2024, we were authorized, subject to certain specifications, to repurchase up to $46.4 billion of our common stock. Our share repurchase program aims to offset dilution from shares issued to employees while maintaining adequate liquidity to meet our operating requirements. We may pursue additional share repurchases as we weigh market factors and other investment opportunities.
From October 28, 2024 through November 15, 2024, we repurchased 19 million shares for $2.7 billion pursuant to a pre-established trading plan.
We paid cash dividends to our shareholders of $245 million and $99 million during the third quarter, and $589 million and $296 million during the first nine months, of fiscal years 2025 and 2024, respectively. Our cash dividend program and the payment of future cash dividends under that program are subject to our Board of Directors' continuing determination that the dividend program and the declaration of dividends thereunder are in the best interests of our shareholders.
v3.24.3
Segment Information
9 Months Ended
Oct. 27, 2024
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.
The Compute & Networking segment includes our Data Center accelerated computing platforms and artificial intelligence, or AI, solutions and software; networking; automotive platforms and autonomous and electric vehicle solutions; Jetson for robotics and other embedded platforms; and DGX Cloud computing services.
The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse Enterprise software for building and operating 3D internet applications.
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.
The “All Other” category includes the expenses that our CODM does not assign 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. Depreciation and amortization expenses directly attributable to each reportable segment are included in operating results for each segment. However, our CODM does not review depreciation and amortization expense by operating segment and, therefore, it is not separately presented. The accounting policies for segment reporting are the same as for our consolidated financial statements. The table below presents details of our reportable segments and the “All Other” category.
 Compute & NetworkingGraphicsAll OtherConsolidated
 (In millions)
Three Months Ended Oct 27, 2024
    
Revenue$31,036 $4,046 $— $35,082 
Operating income (loss)$22,081 $1,502 $(1,714)$21,869 
Three Months Ended Oct 29, 2023
    
Revenue$14,645 $3,475 $— $18,120 
Operating income (loss)$10,262 $1,493 $(1,338)$10,417 
Nine Months Ended Oct 27, 2024
Revenue$80,157 $11,009 $— $91,166 
Operating income (loss)$57,977 $4,111 $(4,669)$57,419 
Nine Months Ended Oct 29, 2023
Revenue$29,507 $9,312 $— $38,819 
Operating income (loss)$19,149 $3,751 $(3,542)$19,358 
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(1,252)$(979)$(3,416)$(2,555)
Unallocated cost of revenue and operating expenses (307)(198)(816)(515)
Acquisition-related and other costs(155)(135)(441)(446)
Other— (26)(26)
Total$(1,714)$(1,338)$(4,669)$(3,542)
Revenue by geographic area is based upon the billing location of the customer. The end customer and shipping location may be different from our customer’s billing location. For example, most shipments associated with Singapore revenue were to locations other than Singapore and shipments to Singapore were insignificant. Revenue by geographic area was as follows:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions)
Revenue:  
United States$14,800 $6,302 $41,318 $14,730 
Singapore7,697 2,702 17,356 4,506 
China (including Hong Kong)5,416 4,030 11,574 8,360 
Taiwan5,153 4,333 15,266 8,968 
Other countries2,016 753 5,652 2,255 
Total revenue$35,082 $18,120 $91,166 $38,819 
We refer to customers who purchase products directly from NVIDIA as direct customers, such as add-in board manufacturers, distributors, ODMs, OEMs, and system integrators. We have certain customers that may purchase products directly from NVIDIA and may use either internal resources or third-party system integrators to complete their build. We also have indirect customers, who purchase products through our direct customers; indirect customers include cloud service providers, consumer internet companies, enterprises, and public sector entities.
Sales to direct customers which represented 10% or more of total revenue, all of which were primarily attributable to the Compute & Networking segment, are presented in the following table:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 27, 2024
Customer A12 %*
Customer B12 %11 %
Customer C12 %11 %
Customer D*12 %
* Less than 10% of total revenue
The customer references of A-D above may represent different customers than those reported in a previous period.
Sales to one direct customer represented 12% of total revenue for the third quarter of fiscal year 2024, and sales to a second direct customer represented 11% of total revenue for the first nine months of fiscal year 2024, both of which were attributable to the Compute & Networking segment.
The following table summarizes revenue by specialized markets:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions)
Revenue:  
Data Center$30,771 $14,514 $79,606 $29,121 
Compute27,644 11,908 69,640 23,877 
Networking3,127 2,606 9,966 5,244 
Gaming3,279 2,856 8,806 7,582 
Professional Visualization486 416 1,367 1,090 
Automotive449 261 1,124 810 
OEM and Other97 73 263 216 
Total revenue$35,082 $18,120 $91,166 $38,819 
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Pay vs Performance Disclosure        
Net income $ 19,309 $ 9,243 $ 50,789 $ 17,475
v3.24.3
Insider Trading Arrangements
3 Months Ended 9 Months Ended
Oct. 27, 2024
shares
Oct. 27, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Aarti Shah [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On September 27, 2024, Aarti Shah, a member of our Board of Directors, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 29,000 shares of our common stock through March 31, 2026.
Name Aarti Shah  
Title member of our Board of Directors  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date September 27, 2024  
Expiration Date March 31, 2026  
Arrangement Duration 550 days  
Aggregate Available 29,000 29,000
Ajay K. Puri [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement   On September 30, 2024, Ajay K. Puri, Executive Vice President, Worldwide Field Operations, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 204,890 shares of our common stock through December 30, 2025.
Name Ajay K. Puri  
Title Executive Vice President  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date September 30, 2024  
Expiration Date December 30, 2025  
Arrangement Duration 456 days  
Aggregate Available 204,890 204,890
v3.24.3
Summary of Significant Accounting Policies (Policies)
9 Months Ended
Oct. 27, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission, or SEC, Regulation S-X. The January 28, 2024 consolidated balance sheet was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2024, as filed with the SEC, but does not include all disclosures required by U.S. GAAP. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for a fair presentation of results of operations and financial position, have been included. The results for the interim periods presented are not necessarily indicative of the results expected for any future period. The following information should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2024.
In May 2024, we announced a ten-for-one stock split, or the Stock Split, of our issued common stock, which was effected through the filing of an amendment to the Company's Restated Certificate of Incorporation, or the Amendment, with the Secretary of the State of Delaware. In June 2024, the Company filed the Amendment to effect the Stock Split and proportionately increased the number of shares of the Company’s authorized common stock from 8.0 billion to 80.0 billion. Shareholders of record at the close of market on June 6, 2024 received nine additional shares of common stock, distributed after the close of market on June 7, 2024. All share, equity award and per share amounts presented herein have been retrospectively adjusted to reflect the Stock Split.
Fiscal Year
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2025 and 2024 are both 52-week years. The third quarters of fiscal years 2025 and 2024 were both 13-week quarters.
Principles of Consolidation
Principles of Consolidation
Our condensed 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, other contingencies, property, plant, and equipment, revenue recognition, and stock-based compensation. These estimates are based on historical facts and other assumptions that we believe are reasonable.
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
Recent Accounting Pronouncements Not Yet Adopted
In November 2023, the Financial Accounting Standards Board, or FASB, issued a new accounting standard requiring disclosures of significant expenses in operating segments. We expect to adopt this standard in our fiscal year 2025 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
In December 2023, the FASB issued a new accounting standard which includes new and updated income tax disclosures, including disaggregation of rate reconciliation and income taxes paid. We expect to adopt this standard in our fiscal year 2026 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
In November 2024, the 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 expect to adopt this standard in our fiscal year 2028 annual report. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
v3.24.3
Leases (Tables)
9 Months Ended
Oct. 27, 2024
Leases [Abstract]  
Schedule of Future Minimum Lease Obligations
Future minimum lease obligations under our non-cancelable lease agreements as of October 27, 2024 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$78 
2026336 
2027340 
2028320 
2029288 
2030 and thereafter
667 
Total2,029 
Less imputed interest266 
Present value of net future minimum lease payments1,763 
Less short-term operating lease liabilities273 
Long-term operating lease liabilities$1,490 
Schedule of Other Information Related to Leases
Other information related to leases was as follows:
Nine Months Ended
Oct 27, 2024Oct 29, 2023
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$227 $200 
Operating lease assets obtained in exchange for lease obligations$679 $439 
v3.24.3
Stock-Based Compensation (Tables)
9 Months Ended
Oct. 27, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense, Net of Amounts Capitalized as Inventory
Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts capitalized into inventory and subsequently recognized to cost of revenue, as follows:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Cost of revenue$50 $38 $125 $96 
Research and development910 701 2,469 1,826 
Sales, general and administrative292 240 822 633 
Total$1,252 $979 $3,416 $2,555 
Schedule of Equity Awards
The following is a summary of our equity award transactions under our equity incentive plans:
RSUs, PSUs, and Market-based PSUs Outstanding
 Number of SharesWeighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balance as of Jan 28, 2024
367 $24.59 
Granted84 $84.70 
Vested(135)$23.03 
Canceled and forfeited(8)$31.23 
Balance as of Oct 27, 2024
308 $41.45 
v3.24.3
Net Income Per Share (Tables)
9 Months Ended
Oct. 27, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Numerators and Denominators of Basic and Diluted net Income Per Share Computations
The following is a reconciliation of the denominator of the basic and diluted net income per share computations for the periods presented:
 Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions, except per share data)
Numerator:  
Net income$19,309 $9,243 $50,789 $17,475 
Denominator:
Basic weighted average shares24,533 24,680 24,577 24,700 
Dilutive impact of outstanding equity awards241 260 260 240 
Diluted weighted average shares24,774 24,940 24,837 24,940 
Net income per share:
Basic (1)$0.79 $0.37 $2.07 $0.71 
Diluted (2)$0.78 $0.37 $2.04 $0.70 
Anti-dilutive equity awards excluded from diluted net income per share10 72 140 
(1)    Net income divided by basic weighted average shares.
(2)    Net income divided by diluted weighted average shares.
v3.24.3
Cash Equivalents and Marketable Securities (Tables)
9 Months Ended
Oct. 27, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Marketable Securities
The following is a summary of cash equivalents and marketable securities:
 Oct 27, 2024
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Debt securities issued by the U.S. Treasury$14,629 $72 $(12)$14,689 $1,795 $12,894 
Corporate debt securities14,221 74 (17)14,278 1,154 13,124 
Money market funds5,147 — — 5,147 5,147 — 
Debt securities issued by U.S. government agencies3,542 11 (4)3,549 759 2,790 
Certificates of deposit142 — — 142 42 100 
Total debt securities with fair value adjustments recorded in other comprehensive income37,681 157 (33)37,805 8,897 28,908 
Publicly-held equity securities (1)472 — 472 
Total$37,681 $157 $(33)$38,277 $8,897 $29,380 
(1)    Fair value adjustments on publicly-held equity securities are recorded in net income. Beginning in the second quarter of fiscal year 2025, publicly-held equity securities from investments in non-affiliated entities were classified in marketable securities on our Condensed Consolidated Balance Sheets.
 Jan 28, 2024
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$10,126 $31 $(5)$10,152 $2,231 $7,921 
Debt securities issued by the U.S. Treasury9,517 17 (10)9,524 1,315 8,209 
Money market funds3,031 — — 3,031 3,031 — 
Debt securities issued by U.S. government agencies2,326 (1)2,333 89 2,244 
Certificates of deposit510 — — 510 294 216 
Foreign government bonds174 — — 174 60 114 
Total debt securities with fair value changes recorded in other comprehensive income$25,684 $56 $(16)$25,724 $7,020 $18,704 
The amortized cost and estimated fair value of debt securities included in cash equivalents and marketable securities are shown below by contractual maturity.
Oct 27, 2024Jan 28, 2024
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$17,695 $17,715 $16,336 $16,329 
Due in 1 - 5 years19,986 20,090 9,348 9,395 
Total$37,681 $37,805 $25,684 $25,724 
Schedule of Investments 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:
Oct 27, 2024
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Corporate debt securities$2,967 $(17)$105 $— $3,072 $(17)
Debt securities issued by the U.S. Treasury2,562 (12)532 — 3,094 (12)
Debt securities issued by U.S. government agencies1,134 (4)21 — 1,155 (4)
Total$6,663 $(33)$658 $— $7,321 $(33)
Jan 28, 2024
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$3,343 $(5)$1,078 $(5)$4,421 $(10)
Corporate debt securities1,306 (3)618 (2)1,924 (5)
Debt securities issued by U.S. government agencies670 (1)— — 670 (1)
Total$5,319 $(9)$1,696 $(7)$7,015 $(16)
v3.24.3
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities (Tables)
9 Months Ended
Oct. 27, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities
Pricing CategoryFair Value at
Oct 27, 2024Jan 28, 2024
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$5,147 $3,031 
Publicly-held equity securitiesLevel 1$472 $— 
Debt securities issued by the U.S. TreasuryLevel 2$14,689 $9,524 
Corporate debt securitiesLevel 2$14,278 $10,152 
Debt securities issued by U.S. government agenciesLevel 2$3,549 $2,333 
Certificates of depositLevel 2$142 $510 
Foreign government bondsLevel 2$— $174 
Other assets (Investments in non-affiliated entities):
Publicly-held equity securitiesLevel 1$— $225 
Liabilities (1)
0.584% Notes Due 2024
Level 2$— $1,228 
3.20% Notes Due 2026
Level 2$982 $970 
1.55% Notes Due 2028
Level 2$1,139 $1,115 
2.85% Notes Due 2030
Level 2$1,391 $1,367 
2.00% Notes Due 2031
Level 2$1,079 $1,057 
3.50% Notes Due 2040
Level 2$847 $851 
3.50% Notes Due 2050
Level 2$1,556 $1,604 
3.70% Notes Due 2060
Level 2$388 $403 
(1)    Liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
Schedule of Equity Securities without Readily Determinable Fair Value
Adjustments to the carrying value of our non-marketable equity securities during the third quarter and first nine months of fiscal years 2025 and 2024 were as follows:
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$1,819 $676 $1,321 $288 
Adjustments related to non-marketable equity securities:
Net additions409 341 830 743 
Unrealized gains23 115 
Impairments and unrealized losses(14)(1)(29)(15)
Balance at end of period$2,237 $1,019 $2,237 $1,019 
v3.24.3
Amortizable Intangible Assets and Goodwill (Tables)
9 Months Ended
Oct. 27, 2024
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:
 Oct 27, 2024Jan 28, 2024
 Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets$2,785 $(2,117)$668 $2,642 $(1,720)$922 
Patents and licensed technology444 (274)170 449 (259)190 
Total intangible assets$3,229 $(2,391)$838 $3,091 $(1,979)$1,112 
Schedule of Finite-Lived Intangible Assets, Amortization Expense
The following table outlines the estimated amortization expense related to the net carrying amount of intangible assets as of October 27, 2024:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$150 
2026317 
2027203 
202857 
202910 
2030 and thereafter101 
Total$838 
v3.24.3
Balance Sheet Components (Tables)
9 Months Ended
Oct. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Certain balance sheet components are as follows:
 Oct 27, 2024Jan 28, 2024
Inventories:(In millions)
Raw materials$1,846 $1,719 
Work in process2,881 1,505 
Finished goods2,927 2,058 
Total inventories (1)$7,654 $5,282 
(1)    We recorded an inventory provision of $322 million and $208 million for the third quarter, and $876 million and $657 million for the first nine months, of fiscal years 2025 and 2024, respectively, in cost of revenue.
Schedule of Other Assets
 Oct 27, 2024Jan 28, 2024
Other Assets (Long Term):(In millions)
Investments in non-affiliated entities$2,237 $1,546 
Prepaid supply and capacity agreements (1)2,041 2,458 
Income tax receivable568 — 
Prepaid royalties346 364 
Other245 132 
Total other assets$5,437 $4,500 
(1)    Prepaid supply and capacity agreements of $3.2 billion and $2.5 billion were included in Prepaid expenses and other current assets as of October 27, 2024 and January 28, 2024, respectively.
Schedule of Accrued and Other Current Liabilities
 Oct 27, 2024Jan 28, 2024
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$4,740 $2,081 
Excess inventory purchase obligations (1)1,728 1,655 
Taxes payable1,356 296 
Product warranty and return provisions1,107 415 
Deferred revenue (2)752 764 
Accrued payroll and related expenses677 675 
Operating leases273 228 
Unsettled share repurchases180 187 
Licenses and royalties148 182 
Other165 199 
Total accrued and other current liabilities$11,126 $6,682 
(1)    We recorded $543 million and $473 million for the third quarter, and $1.3 billion and $734 million for the first nine months, of fiscal years 2025 and 2024, respectively, in cost of revenue.

(2)    Includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of October 27, 2024 and January 28, 2024 included $101 million and $233 million of customer advances, respectively.
Schedule of Other Long-term Liabilities
 Oct 27, 2024Jan 28, 2024
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,945 $1,361 
Deferred revenue (2)833 573 
Deferred income tax790 462 
Other115 145 
Total other long-term liabilities$3,683 $2,541 
(1)    Income tax payable is comprised of the long-term portion of the one-time transition tax payable, unrecognized tax benefits, and related interest and penalties.

(2)    Includes unearned revenue related to hardware support, 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 the first nine months of fiscal years 2025 and 2024:
Nine Months Ended
 Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$1,337 $572 
Deferred revenue additions2,115 1,269 
Revenue recognized(1,867)(903)
Balance at end of period$1,585 $938 
v3.24.3
Derivative Financial Instruments (Tables)
9 Months Ended
Oct. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Value of Our Foreign Currency Contracts Outstanding
The table below presents the notional value of our foreign currency contracts outstanding:
 Oct 27, 2024Jan 28, 2024
(In millions)
Designated as cash flow hedges$1,360 $1,168 
Non-designated hedges$728 $597 
v3.24.3
Debt (Tables)
9 Months Ended
Oct. 27, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Expected
Remaining Term (years)
Effective
Interest Rate
Carrying Value at
Oct 27, 2024Jan 28, 2024
(In millions)
0.584% Notes Due 2024 (1)
0.66%$— $1,250 
3.20% Notes Due 2026
1.93.31%1,000 1,000 
1.55% Notes Due 2028
3.61.64%1,250 1,250 
2.85% Notes Due 2030
5.42.93%1,500 1,500 
2.00% Notes Due 2031
6.62.09%1,250 1,250 
3.50% Notes Due 2040
15.43.54%1,000 1,000 
3.50% Notes Due 2050
25.43.54%2,000 2,000 
3.70% Notes Due 2060
35.43.73%500 500 
Unamortized debt discount and issuance costs(38)(41)
Net carrying amount8,462 9,709 
Less short-term portion— (1,250)
Total long-term portion$8,462 $8,459 
(1) We repaid the 0.584% Notes Due 2024 in the second quarter of fiscal year 2025.
v3.24.3
Commitments and Contingencies (Tables)
9 Months Ended
Oct. 27, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Purchase Obligation, Fiscal Year Maturity
Total future purchase commitments as of October 27, 2024 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2025 (excluding the first nine months of fiscal year 2025)
$14,178 
202618,895 
20273,381 
20282,979 
20291,990 
2030 and thereafter
621 
Total$42,044 
Schedule of Product Warranty Activity The estimated product returns and product warranty activity consisted of the following:
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Balance at beginning of period$741 $115 $306 $82 
Additions304 50 775 105 
Utilization(36)(23)(72)(45)
Balance at end of period$1,009 $142 $1,009 $142 
v3.24.3
Segment Information (Tables)
9 Months Ended
Oct. 27, 2024
Segment Reporting [Abstract]  
Schedule of Reportable Segments The table below presents details of our reportable segments and the “All Other” category.
 Compute & NetworkingGraphicsAll OtherConsolidated
 (In millions)
Three Months Ended Oct 27, 2024
    
Revenue$31,036 $4,046 $— $35,082 
Operating income (loss)$22,081 $1,502 $(1,714)$21,869 
Three Months Ended Oct 29, 2023
    
Revenue$14,645 $3,475 $— $18,120 
Operating income (loss)$10,262 $1,493 $(1,338)$10,417 
Nine Months Ended Oct 27, 2024
Revenue$80,157 $11,009 $— $91,166 
Operating income (loss)$57,977 $4,111 $(4,669)$57,419 
Nine Months Ended Oct 29, 2023
Revenue$29,507 $9,312 $— $38,819 
Operating income (loss)$19,149 $3,751 $(3,542)$19,358 
Three Months EndedNine Months Ended
Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(1,252)$(979)$(3,416)$(2,555)
Unallocated cost of revenue and operating expenses (307)(198)(816)(515)
Acquisition-related and other costs(155)(135)(441)(446)
Other— (26)(26)
Total$(1,714)$(1,338)$(4,669)$(3,542)
Schedule of Revenue by Geographic Regions Revenue by geographic area was as follows:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions)
Revenue:  
United States$14,800 $6,302 $41,318 $14,730 
Singapore7,697 2,702 17,356 4,506 
China (including Hong Kong)5,416 4,030 11,574 8,360 
Taiwan5,153 4,333 15,266 8,968 
Other countries2,016 753 5,652 2,255 
Total revenue$35,082 $18,120 $91,166 $38,819 
Schedules of Concentration of Risk, by Risk Factor
Sales to direct customers which represented 10% or more of total revenue, all of which were primarily attributable to the Compute & Networking segment, are presented in the following table:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 27, 2024
Customer A12 %*
Customer B12 %11 %
Customer C12 %11 %
Customer D*12 %
* Less than 10% of total revenue
The customer references of A-D above may represent different customers than those reported in a previous period.
Schedule of Revenue by Specialized Markets
The following table summarizes revenue by specialized markets:
 Three Months EndedNine Months Ended
 Oct 27, 2024Oct 29, 2023Oct 27, 2024Oct 29, 2023
 (In millions)
Revenue:  
Data Center$30,771 $14,514 $79,606 $29,121 
Compute27,644 11,908 69,640 23,877 
Networking3,127 2,606 9,966 5,244 
Gaming3,279 2,856 8,806 7,582 
Professional Visualization486 416 1,367 1,090 
Automotive449 261 1,124 810 
OEM and Other97 73 263 216 
Total revenue$35,082 $18,120 $91,166 $38,819 
v3.24.3
Summary of Significant Accounting Policies (Details)
1 Months Ended
May 31, 2024
Jun. 07, 2024
shares
Jun. 06, 2024
shares
Accounting Policies [Abstract]      
Stock split ratio 10    
Authorized number of shares of common stock (in shares)   80,000,000,000 8,000,000,000
Additional common stock issued to each shareholder on record (in shares)   9  
v3.24.3
Leases - Schedule of Future Minimum Lease Obligations (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Leases [Abstract]    
2025 (excluding the first nine months of fiscal year 2025) $ 78  
2026 336  
2027 340  
2028 320  
2029 288  
2030 and thereafter 667  
Total 2,029  
Less imputed interest 266  
Present value of net future minimum lease payments 1,763  
Less short-term operating lease liabilities 273 $ 228
Long-term operating lease liabilities $ 1,490 $ 1,119
v3.24.3
Leases - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Jan. 28, 2024
Lessee, Lease, Description [Line Items]          
Operating lease expense $ 92 $ 69 $ 258 $ 195  
Weighted average remaining lease term - operating leases (in years) 6 years 6 months   6 years 6 months   6 years 1 month 6 days
Weighted average discount rate - operating leases (percent) 4.15%   4.15%   3.76%
Leases Not yet Commenced          
Lessee, Lease, Description [Line Items]          
Operating lease, not yet commenced, amount $ 4,200   $ 4,200    
Minimum          
Lessee, Lease, Description [Line Items]          
Lease not yet commenced, term of contract (in years) 1 year 6 months   1 year 6 months    
Maximum          
Lessee, Lease, Description [Line Items]          
Lease not yet commenced, term of contract (in years) 15 years 6 months   15 years 6 months    
v3.24.3
Leases - Schedule of Other Lease Information (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Supplemental disclosure of cash flow information:    
Operating cash flow used for operating leases $ 227 $ 200
Operating lease assets obtained in exchange for lease obligations $ 679 $ 439
v3.24.3
Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Share-based Compensation        
Stock-based compensation expense $ 1,252 $ 979 $ 3,416 $ 2,555
Cost of revenue        
Share-based Compensation        
Stock-based compensation expense 50 38 125 96
Research and development        
Share-based Compensation        
Stock-based compensation expense 910 701 2,469 1,826
Sales, general and administrative        
Share-based Compensation        
Stock-based compensation expense $ 292 $ 240 $ 822 $ 633
v3.24.3
Stock-Based Compensation - Schedule of Equity Awards (Details) - RSUs, PSUs, and Market-based PSUs
shares in Millions
9 Months Ended
Oct. 27, 2024
$ / shares
shares
Number of Shares  
Outstanding, beginning balance (in shares) | shares 367
Granted (in shares) | shares 84
Vested (in shares) | shares (135)
Canceled and forfeited (in shares) | shares (8)
Outstanding, ending balance (in shares) | shares 308
Weighted Average Grant-Date Fair Value Per Share  
Weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares $ 24.59
Weighted average grant date fair value, granted (in dollars per share) | $ / shares 84.70
Weighted average grant date fair value, Vested (in dollars per share) | $ / shares 23.03
Weighted average grant date fair value, canceled and forfeited (in dollars per share) | $ / shares 31.23
Weighted average grant date fair value, ending balance (in dollars per share) | $ / shares $ 41.45
v3.24.3
Stock-Based Compensation - Narrative (Details)
$ in Billions
9 Months Ended
Oct. 27, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unearned stock-based compensation expense $ 12.4
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
Employee Stock Purchase Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Estimated weighted average amortization period 1 year
v3.24.3
Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Numerator:        
Net income $ 19,309 $ 9,243 $ 50,789 $ 17,475
Denominator:        
Basic weighted average shares (in shares) 24,533 24,680 24,577 24,700
Dilutive impact of outstanding equity awards (in shares) 241 260 260 240
Diluted weighted average shares (in shares) 24,774 24,940 24,837 24,940
Net income per share:        
Basic (in dollars per share) $ 0.79 $ 0.37 $ 2.07 $ 0.71
Diluted (in dollars per share) $ 0.78 $ 0.37 $ 2.04 $ 0.70
Anti-dilutive equity awards excluded from diluted net income per share (in shares) 9 10 72 140
v3.24.3
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Income Tax Disclosure [Abstract]        
Income tax expense $ 3,007 $ 1,279 $ 8,020 $ 2,237
Tax expense (benefit) as a percentage of income before income tax (percent) 13.50% 12.20% 13.60% 11.30%
v3.24.3
Cash Equivalents and Marketable Securities - Schedule of Securities (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Summary of cash equivalents and marketable securities:    
Amortized Cost $ 37,681 $ 25,684
Unrealized Gain 157  
Unrealized Loss (33)  
Estimated Fair Value 37,805 25,724
Cash Equivalents 8,897  
Estimated Fair Value, Total 38,277  
Marketable securities, total 29,380  
Total debt securities with fair value adjustments recorded in other comprehensive income    
Summary of cash equivalents and marketable securities:    
Amortized Cost 37,681 25,684
Unrealized Gain 157 56
Unrealized Loss (33) (16)
Estimated Fair Value 37,805 25,724
Cash Equivalents 8,897 7,020
Marketable Securities 28,908 18,704
Debt securities issued by the U.S. Treasury    
Summary of cash equivalents and marketable securities:    
Amortized Cost 14,629 9,517
Unrealized Gain 72 17
Unrealized Loss (12) (10)
Estimated Fair Value 14,689 9,524
Cash Equivalents 1,795 1,315
Marketable Securities 12,894 8,209
Corporate debt securities    
Summary of cash equivalents and marketable securities:    
Amortized Cost 14,221 10,126
Unrealized Gain 74 31
Unrealized Loss (17) (5)
Estimated Fair Value 14,278 10,152
Cash Equivalents 1,154 2,231
Marketable Securities 13,124 7,921
Money market funds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 5,147 3,031
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 5,147 3,031
Cash Equivalents 5,147 3,031
Marketable Securities 0 0
Debt securities issued by U.S. government agencies    
Summary of cash equivalents and marketable securities:    
Amortized Cost 3,542 2,326
Unrealized Gain 11 8
Unrealized Loss (4) (1)
Estimated Fair Value 3,549 2,333
Cash Equivalents 759 89
Marketable Securities 2,790 2,244
Certificates of deposit    
Summary of cash equivalents and marketable securities:    
Amortized Cost 142 510
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 142 510
Cash Equivalents 42 294
Marketable Securities 100 216
Foreign government bonds    
Summary of cash equivalents and marketable securities:    
Amortized Cost   174
Unrealized Gain   0
Unrealized Loss   0
Estimated Fair Value   174
Cash Equivalents   60
Marketable Securities   $ 114
Publicly-held equity securities    
Summary of cash equivalents and marketable securities:    
Publicly-held equity securities $ 472  
v3.24.3
Cash Equivalents and Marketable Securities - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 27, 2024
Level 1 | Publicly-held equity securities    
Summary of cash equivalents and marketable securities:    
Net unrealized gains on investments in publicly held equity securities $ 195 $ 195
v3.24.3
Cash Equivalents and Marketable Securities - Schedule of Unrealized Losses Aggregated by Investment Category (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Estimated Fair Value    
Less than 12 Months $ 6,663 $ 5,319
12 Months or Greater 658 1,696
Total 7,321 7,015
Gross Unrealized Loss    
Less than 12 Months (33) (9)
12 Months or Greater 0 (7)
Total (33) (16)
Corporate debt securities    
Estimated Fair Value    
Less than 12 Months 2,967 1,306
12 Months or Greater 105 618
Total 3,072 1,924
Gross Unrealized Loss    
Less than 12 Months (17) (3)
12 Months or Greater 0 (2)
Total (17) (5)
Debt securities issued by the U.S. Treasury    
Estimated Fair Value    
Less than 12 Months 2,562 3,343
12 Months or Greater 532 1,078
Total 3,094 4,421
Gross Unrealized Loss    
Less than 12 Months (12) (5)
12 Months or Greater 0 (5)
Total (12) (10)
Debt securities issued by U.S. government agencies    
Estimated Fair Value    
Less than 12 Months 1,134 670
12 Months or Greater 21 0
Total 1,155 670
Gross Unrealized Loss    
Less than 12 Months (4) (1)
12 Months or Greater 0 0
Total $ (4) $ (1)
v3.24.3
Cash Equivalents and Marketable Securities - Schedule of Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Amortized Cost    
Less than one year $ 17,695 $ 16,336
Due in 1 - 5 years 19,986 9,348
Amortized Cost 37,681 25,684
Estimated Fair Value    
Less than one year 17,715 16,329
Due in 1 - 5 years 20,090 9,395
Estimated Fair Value $ 37,805 $ 25,724
v3.24.3
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Schedule of Fair Value of Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jul. 28, 2024
Jan. 28, 2024
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities $ 37,805   $ 25,724
0.584% Notes Due 2024 | Notes Payable      
Liabilities      
Stated interest rate (percent) 0.584% 0.584% 0.584%
3.20% Notes Due 2026 | Notes Payable      
Liabilities      
Stated interest rate (percent) 3.20%   3.20%
1.55% Notes Due 2028 | Notes Payable      
Liabilities      
Stated interest rate (percent) 1.55%   1.55%
2.85% Notes Due 2030 | Notes Payable      
Liabilities      
Stated interest rate (percent) 2.85%   2.85%
2.00% Notes Due 2031 | Notes Payable      
Liabilities      
Stated interest rate (percent) 2.00%   2.00%
3.50% Notes Due 2040 | Notes Payable      
Liabilities      
Stated interest rate (percent) 3.50%   3.50%
3.50% Notes Due 2050 | Notes Payable      
Liabilities      
Stated interest rate (percent) 3.50%   3.50%
3.70% Notes Due 2060 | Notes Payable      
Liabilities      
Stated interest rate (percent) 3.70%   3.70%
Money market funds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities $ 5,147   $ 3,031
Corporate debt securities      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 14,278   10,152
Debt securities issued by the U.S. Treasury      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 14,689   9,524
Debt securities issued by U.S. government agencies      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 3,549   2,333
Certificates of deposit      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 142   510
Foreign government bonds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities     174
Publicly-held equity securities      
Cash equivalents and marketable securities:      
Publicly-held equity securities 472    
Level 1      
Cash equivalents and marketable securities:      
Publicly-held equity securities 0   225
Level 1 | Money market funds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 5,147   3,031
Level 1 | Publicly-held equity securities      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 472   0
Level 2 | 0.584% Notes Due 2024 | Notes Payable      
Liabilities      
Notes 0   1,228
Level 2 | 3.20% Notes Due 2026 | Notes Payable      
Liabilities      
Notes 982   970
Level 2 | 1.55% Notes Due 2028 | Notes Payable      
Liabilities      
Notes 1,139   1,115
Level 2 | 2.85% Notes Due 2030 | Notes Payable      
Liabilities      
Notes 1,391   1,367
Level 2 | 2.00% Notes Due 2031 | Notes Payable      
Liabilities      
Notes 1,079   1,057
Level 2 | 3.50% Notes Due 2040 | Notes Payable      
Liabilities      
Notes 847   851
Level 2 | 3.50% Notes Due 2050 | Notes Payable      
Liabilities      
Notes 1,556   1,604
Level 2 | 3.70% Notes Due 2060 | Notes Payable      
Liabilities      
Notes 388   403
Level 2 | Corporate debt securities      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 14,278   10,152
Level 2 | Debt securities issued by the U.S. Treasury      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 14,689   9,524
Level 2 | Debt securities issued by U.S. government agencies      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 3,549   2,333
Level 2 | Certificates of deposit      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 142   510
Level 2 | Foreign government bonds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities $ 0   $ 174
v3.24.3
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Schedule of Carrying Value of Non-marketable Equity Securities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Fair Value Disclosures [Abstract]        
Balance at beginning of period $ 1,819 $ 676 $ 1,321 $ 288
Net additions 409 341 830 743
Unrealized gains 23 3 115 3
Impairments and unrealized losses (14) (1) (29) (15)
Balance at end of period $ 2,237 $ 1,019 $ 2,237 $ 1,019
v3.24.3
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Narrative (Details)
$ in Millions
Oct. 27, 2024
USD ($)
Fair Value Disclosures [Abstract]  
Cumulative gross unrealized gains $ 374
Cumulative gross losses and impairments $ 74
v3.24.3
Amortizable Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Jan. 28, 2024
Amortizable intangible assets components          
Gross Carrying Amount $ 3,229   $ 3,229   $ 3,091
Accumulated Amortization (2,391)   (2,391)   (1,979)
Net Carrying Amount 838   838   1,112
Amortization expense 149 $ 144 438 $ 471  
Increase in carrying amount of goodwill     294    
Amortization expense associated with intangible assets          
2025 (excluding the first nine months of fiscal year 2025) 150   150    
2026 317   317    
2027 203   203    
2028 57   57    
2029 10   10    
2030 and thereafter 101   101    
Net Carrying Amount 838   838   1,112
Acquisition-related intangible assets          
Amortizable intangible assets components          
Gross Carrying Amount 2,785   2,785   2,642
Accumulated Amortization (2,117)   (2,117)   (1,720)
Net Carrying Amount 668   668   922
Amortization expense associated with intangible assets          
Net Carrying Amount 668   668   922
Patents and licensed technology          
Amortizable intangible assets components          
Gross Carrying Amount 444   444   449
Accumulated Amortization (274)   (274)   (259)
Net Carrying Amount 170   170   190
Amortization expense associated with intangible assets          
Net Carrying Amount $ 170   $ 170   $ 190
v3.24.3
Balance Sheet Components - Narrative (Details) - Accounts Receivable - Customer Concentration Risk
9 Months Ended 12 Months Ended
Oct. 27, 2024
Jan. 28, 2024
Customer One    
Supply Commitment [Line Items]    
Concentration risk (as percent) 18.00% 24.00%
Customers Two    
Supply Commitment [Line Items]    
Concentration risk (as percent) 13.00% 11.00%
Customer Three    
Supply Commitment [Line Items]    
Concentration risk (as percent) 11.00%  
Customer Four    
Supply Commitment [Line Items]    
Concentration risk (as percent) 11.00%  
v3.24.3
Balance Sheet Components - Schedule of Inventory (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Jan. 28, 2024
Inventories          
Raw materials $ 1,846   $ 1,846   $ 1,719
Work in process 2,881   2,881   1,505
Finished goods 2,927   2,927   2,058
Total inventories 7,654   7,654   $ 5,282
Inventory reserve expense $ 322 $ 208 $ 876 $ 657  
v3.24.3
Balance Sheet Components - Schedule of Other Assets (Long Term) (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Other Assets (Long Term):    
Investments in non-affiliated entities $ 2,237 $ 1,546
Prepaid supply and capacity agreements 2,041 2,458
Income tax receivable 568 0
Prepaid royalties 346 364
Other 245 132
Total other assets 5,437 4,500
Prepaid expenses and other current assets 3,806 3,080
Supply and Capacity Agreements    
Other Assets (Long Term):    
Prepaid expenses and other current assets $ 3,200 $ 2,500
v3.24.3
Balance Sheet Components - Schedule of Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Jan. 28, 2024
Accrued and Other Current Liabilities:          
Customer program accruals $ 4,740   $ 4,740   $ 2,081
Excess inventory purchase obligations 1,728   1,728   1,655
Taxes payable 1,356   1,356   296
Product warranty and return provisions 1,107   1,107   415
Deferred revenue 752   752   764
Accrued payroll and related expenses 677   677   675
Operating leases 273   273   228
Unsettled share repurchases 180   180   187
Licenses and royalties 148   148   182
Other 165   165   199
Total accrued and other current liabilities $ 11,126   $ 11,126   $ 6,682
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Total accrued and other current liabilities   Total accrued and other current liabilities   Total accrued and other current liabilities
Cost of revenue $ 8,926 $ 4,720 $ 22,031 $ 11,309  
Inventory Purchase Obligations In Excess Of Projections          
Accrued and Other Current Liabilities:          
Cost of revenue 543 $ 473 1,300 $ 734  
Nature Of Expense, Customer Advances          
Accrued and Other Current Liabilities:          
Deferred revenue $ 101   $ 101   $ 233
v3.24.3
Balance Sheet Components - Schedule of Other Long-term Liabilities (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Other Long-Term Liabilities:    
Income tax payable $ 1,945 $ 1,361
Deferred revenue 833 573
Deferred income tax 790 462
Other 115 145
Total other long-term liabilities $ 3,683 $ 2,541
v3.24.3
Balance Sheet Components - Schedule of Changes in Deferred Revenue (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Change in Deferred Revenue    
Balance at beginning of period $ 1,337 $ 572
Deferred revenue additions 2,115 1,269
Revenue recognized (1,867) (903)
Balance at end of period $ 1,585 $ 938
v3.24.3
Balance Sheet Components - Revenue Remaining Performance Obligation (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Revenue recognized that was previously included in deferred revenue $ 585 $ 256
Revenue related to remaining performance obligations 1,600  
Revenue related to remaining performance obligations - amount from deferred revenues 1,400  
Unbilled revenue $ 187  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-28    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Revenue, remaining performance obligation (as percent) 37.00%  
Expected performance period (in months) 12 months  
v3.24.3
Derivative Financial Instruments - Schedule of Notional Value of Our Foreign Currency Contracts Outstanding (Details) - Foreign currency forward contracts - USD ($)
$ in Millions
Oct. 27, 2024
Jan. 28, 2024
Designated as cash flow hedges    
Derivative [Line Items]    
Notional values of derivative contracts $ 1,360 $ 1,168
Non-designated hedges    
Derivative [Line Items]    
Notional values of derivative contracts $ 728 $ 597
v3.24.3
Derivative Financial Instruments - Narrative (Details)
9 Months Ended
Oct. 27, 2024
Foreign currency forward contracts  
Derivative [Line Items]  
Maximum maturity period (in months) 18 months
v3.24.3
Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 27, 2024
Jul. 28, 2024
Jan. 28, 2024
Debt Instrument [Line Items]      
Unamortized debt discount and issuance costs $ (38)   $ (41)
Net carrying amount 8,462   9,709
Less short-term portion 0   (1,250)
Total long-term portion $ 8,462   $ 8,459
0.584% Notes Due 2024 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 0.584% 0.584% 0.584%
Expected Remaining Term (years) 0 years    
Effective Interest Rate 0.66%    
Gross carrying amount $ 0   $ 1,250
3.20% Notes Due 2026 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 3.20%   3.20%
Expected Remaining Term (years) 1 year 10 months 24 days    
Effective Interest Rate 3.31%    
Gross carrying amount $ 1,000   $ 1,000
1.55% Notes Due 2028 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 1.55%   1.55%
Expected Remaining Term (years) 3 years 7 months 6 days    
Effective Interest Rate 1.64%    
Gross carrying amount $ 1,250   $ 1,250
2.85% Notes Due 2030 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 2.85%   2.85%
Expected Remaining Term (years) 5 years 4 months 24 days    
Effective Interest Rate 2.93%    
Gross carrying amount $ 1,500   $ 1,500
2.00% Notes Due 2031 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 2.00%   2.00%
Expected Remaining Term (years) 6 years 7 months 6 days    
Effective Interest Rate 2.09%    
Gross carrying amount $ 1,250   $ 1,250
3.50% Notes Due 2040 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 3.50%   3.50%
Expected Remaining Term (years) 15 years 4 months 24 days    
Effective Interest Rate 3.54%    
Gross carrying amount $ 1,000   $ 1,000
3.50% Notes Due 2050 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 3.50%   3.50%
Expected Remaining Term (years) 25 years 4 months 24 days    
Effective Interest Rate 3.54%    
Gross carrying amount $ 2,000   $ 2,000
3.70% Notes Due 2060 | Notes Payable      
Debt Instrument [Line Items]      
Interest rate (as percent) 3.70%   3.70%
Expected Remaining Term (years) 35 years 4 months 24 days    
Effective Interest Rate 3.73%    
Gross carrying amount $ 500   $ 500
v3.24.3
Debt - Narrative (Details) - Commercial Paper Program - Commercial Paper
Oct. 27, 2024
USD ($)
Debt Instrument [Line Items]  
Current borrowing capacity $ 575,000,000
Outstanding commercial paper $ 0
v3.24.3
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
Oct. 27, 2024
Jul. 28, 2024
Jan. 28, 2024
Oct. 29, 2023
Jul. 30, 2023
Jan. 29, 2023
Other Commitments [Line Items]            
Inventory purchase and long-term supply and capacity obligations $ 28,900          
Other non-inventory 13,200          
Product warranty liability accruals 1,009 $ 741 $ 306 $ 142 $ 115 $ 82
Multi-Year Cloud Service Agreements            
Other Commitments [Line Items]            
Other non-inventory $ 11,300          
v3.24.3
Commitments and Contingencies - Schedule of Future Commitments Due by Year (Details)
$ in Millions
Oct. 27, 2024
USD ($)
Fiscal Year:  
2025 (excluding the first nine months of fiscal year 2025) $ 14,178
2026 18,895
2027 3,381
2028 2,979
2029 1,990
2030 and thereafter 621
Total $ 42,044
v3.24.3
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]        
Beginning Balance $ 741 $ 115 $ 306 $ 82
Additions 304 50 775 105
Utilization (36) (23) (72) (45)
Ending Balance $ 1,009 $ 142 $ 1,009 $ 142
v3.24.3
Shareholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 26, 2024
Nov. 15, 2024
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Subsequent Event [Line Items]            
Number of shares repurchased (in shares)     92 83 254 159
Shares repurchased     $ 11,146 $ 3,719 $ 26,208 $ 7,005
Authorized amounts under share repurchase program     46,400   46,400  
Additional authorization to repurchase shares $ 50,000          
Dividends paid     $ 245 $ 99 $ 589 $ 296
Subsequent Event            
Subsequent Event [Line Items]            
Number of shares repurchased (in shares)   19        
Shares repurchased   $ 2,700        
v3.24.3
Segment Information - Narrative (Details) - segment
3 Months Ended 9 Months Ended
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Segment Reporting Information [Line Items]      
Number of reportable segments   2  
Customer Concentration Risk | Customer One | Revenue | Compute and Networking Segment      
Segment Reporting Information [Line Items]      
Concentration risk (as percent) 12.00%    
Customer Concentration Risk | Customers Two | Revenue | Compute and Networking Segment      
Segment Reporting Information [Line Items]      
Concentration risk (as percent)     11.00%
v3.24.3
Segment Information - Schedule of Segments (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Segment Reporting Information [Line Items]        
Revenue $ 35,082 $ 18,120 $ 91,166 $ 38,819
Operating income (loss) 21,869 10,417 57,419 19,358
Operating Segments | Compute & Networking        
Segment Reporting Information [Line Items]        
Revenue 31,036 14,645 80,157 29,507
Operating income (loss) 22,081 10,262 57,977 19,149
Operating Segments | Graphics        
Segment Reporting Information [Line Items]        
Revenue 4,046 3,475 11,009 9,312
Operating income (loss) 1,502 1,493 4,111 3,751
All Other        
Segment Reporting Information [Line Items]        
Revenue 0 0 0 0
Operating income (loss) $ (1,714) $ (1,338) $ (4,669) $ (3,542)
v3.24.3
Segment Information - Schedule of Reconciling Items (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Segment Reporting Information [Line Items]        
Stock-based compensation expense $ (1,252) $ (979) $ (3,416) $ (2,555)
Operating income 21,869 10,417 57,419 19,358
All Other        
Segment Reporting Information [Line Items]        
Stock-based compensation expense (1,252) (979) (3,416) (2,555)
Unallocated cost of revenue and operating expenses (307) (198) (816) (515)
Acquisition-related and other costs (155) (135) (441) (446)
Other 0 (26) 4 (26)
Operating income $ (1,714) $ (1,338) $ (4,669) $ (3,542)
v3.24.3
Segment Information - Schedule of Revenue by Geographic Regions (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Revenues        
Revenue $ 35,082 $ 18,120 $ 91,166 $ 38,819
United States        
Revenues        
Revenue 14,800 6,302 41,318 14,730
Singapore        
Revenues        
Revenue 7,697 2,702 17,356 4,506
China (including Hong Kong)        
Revenues        
Revenue 5,416 4,030 11,574 8,360
Taiwan        
Revenues        
Revenue 5,153 4,333 15,266 8,968
Other countries        
Revenues        
Revenue $ 2,016 $ 753 $ 5,652 $ 2,255
v3.24.3
Segment Information - Concentration Risk (Details) - Compute & Networking - Revenue - Customer Concentration Risk
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 27, 2024
Customer A    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent) 12.00%  
Customer B    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent) 12.00% 11.00%
Customer C    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent) 12.00% 11.00%
Customer D    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent)   12.00%
v3.24.3
Segment Information - Schedule of Revenue by Market (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 27, 2024
Oct. 29, 2023
Oct. 27, 2024
Oct. 29, 2023
Revenue from External Customer [Line Items]        
Revenue $ 35,082 $ 18,120 $ 91,166 $ 38,819
Data Center        
Revenue from External Customer [Line Items]        
Revenue 30,771 14,514 79,606 29,121
Compute        
Revenue from External Customer [Line Items]        
Revenue 27,644 11,908 69,640 23,877
Networking        
Revenue from External Customer [Line Items]        
Revenue 3,127 2,606 9,966 5,244
Gaming        
Revenue from External Customer [Line Items]        
Revenue 3,279 2,856 8,806 7,582
Professional Visualization        
Revenue from External Customer [Line Items]        
Revenue 486 416 1,367 1,090
Automotive        
Revenue from External Customer [Line Items]        
Revenue 449 261 1,124 810
OEM and Other        
Revenue from External Customer [Line Items]        
Revenue $ 97 $ 73 $ 263 $ 216