NVIDIA CORP, 10-Q filed on 8/28/2024
Quarterly Report
v3.24.2.u1
Cover - shares
shares in Millions
6 Months Ended
Jul. 28, 2024
Aug. 23, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jul. 28, 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, $0.001 par value per share  
Trading Symbol NVDA  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   24,530
Entity Central Index Key 0001045810  
Current Fiscal Year End Date --01-26  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Income Statement [Abstract]        
Revenue $ 30,040 $ 13,507 $ 56,084 $ 20,699
Cost of revenue 7,466 4,045 13,105 6,589
Gross profit 22,574 9,462 42,979 14,110
Operating expenses        
Research and development 3,090 2,040 5,810 3,916
Sales, general and administrative 842 622 1,618 1,253
Total operating expenses 3,932 2,662 7,428 5,169
Operating income 18,642 6,800 35,551 8,941
Interest income 444 187 803 338
Interest expense (61) (65) (125) (131)
Other, net 189 59 264 42
Other income (expense), net 572 181 942 249
Income before income tax 19,214 6,981 36,493 9,190
Income tax expense 2,615 793 5,013 958
Net income $ 16,599 $ 6,188 $ 31,480 $ 8,232
Net income per share:        
Basic (in dollars per share) $ 0.68 $ 0.25 $ 1.28 $ 0.33
Diluted (in dollars per share) $ 0.67 $ 0.25 $ 1.27 $ 0.33
Weighted average shares used in per share computation:        
Basic (in shares) 24,578 24,729 24,599 24,716
Diluted (in shares) 24,848 24,994 24,869 24,948
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Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 16,599 $ 6,188 $ 31,480 $ 8,232
Available-for-sale securities:        
Net change in unrealized gain (loss) 150 (11) 22 7
Cash flow hedges:        
Net change in unrealized gain 23 22 20 8
Reclassification adjustments for net realized loss included in net income (8) (12) (13) (23)
Net change in unrealized gain (loss) 15 10 7 (15)
Other comprehensive income (loss), net of tax 165 (1) 29 (8)
Total comprehensive income $ 16,764 $ 6,187 $ 31,509 $ 8,224
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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Current assets:    
Cash and cash equivalents $ 8,563 $ 7,280
Marketable securities 26,237 18,704
Accounts receivable, net 14,132 9,999
Inventories 6,675 5,282
Prepaid expenses and other current assets 4,026 3,080
Total current assets 59,633 44,345
Property and equipment, net 4,885 3,914
Operating lease assets 1,556 1,346
Goodwill 4,622 4,430
Intangible assets, net 952 1,112
Deferred income tax assets 9,578 6,081
Other assets 4,001 4,500
Total assets 85,227 65,728
Current liabilities:    
Accounts payable 3,680 2,699
Accrued and other current liabilities 10,289 6,682
Short-term debt 0 1,250
Total current liabilities 13,969 10,631
Long-term debt 8,461 8,459
Long-term operating lease liabilities 1,304 1,119
Other long-term liabilities 3,336 2,541
Total liabilities 27,070 22,750
Commitments and contingencies - see Note 12
Shareholders’ equity:    
Preferred stock 0 0
Common stock 25 25
Additional paid-in capital 12,115 13,109
Accumulated other comprehensive income 56 27
Retained earnings 45,961 29,817
Total shareholders' equity 58,157 42,978
Total liabilities and shareholders' equity $ 85,227 $ 65,728
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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   24,661.0      
Beginning balances, shareholders' equity at Jan. 29, 2023 $ 22,101 $ 25 $ 11,948 $ (43) $ 10,171
Increase (Decrease) in Shareholders' Equity          
Net income 8,232       8,232
Other comprehensive income (loss) (8)     (8)  
Issuance of common stock from stock plans (in shares)   143.0      
Issuance of common stock from stock plans  247   247    
Tax withholding related to vesting of restricted stock units (in shares)   (37.0)      
Tax withholding related to vesting of restricted stock units $ (1,179)   (1,179)    
Shares repurchased (in shares) (75.5) (75.0)      
Shares repurchased $ (3,284) $ 0 (1)   (3,283)
Cash dividends declared and paid (199)       (199)
Stock-based compensation 1,591   1,591    
Ending balance, common stock outstanding (in shares) at Jul. 30, 2023   24,692.0      
Ending balances, shareholders' equity at Jul. 30, 2023 27,501 $ 25 12,606 (51) 14,921
Beginning balance, common stock outstanding (in shares) at Apr. 30, 2023   24,731.0      
Beginning balances, shareholders' equity at Apr. 30, 2023 24,520 $ 25 12,430 (50) 12,115
Increase (Decrease) in Shareholders' Equity          
Net income 6,188       6,188
Other comprehensive income (loss) (1)     (1)  
Issuance of common stock from stock plans (in shares)   52.0      
Issuance of common stock from stock plans  1   1    
Tax withholding related to vesting of restricted stock units (in shares)   (16.0)      
Tax withholding related to vesting of restricted stock units $ (672)   (672)    
Shares repurchased (in shares) (75.5) (75.0)      
Shares repurchased $ (3,284)   (1)   (3,283)
Cash dividends declared and paid (99)       (99)
Stock-based compensation 848   848    
Ending balance, common stock outstanding (in shares) at Jul. 30, 2023   24,692.0      
Ending balances, shareholders' equity at Jul. 30, 2023 27,501 $ 25 12,606 (51) 14,921
Beginning balance, common stock outstanding (in shares) at Jan. 28, 2024   24,643.0      
Beginning balances, shareholders' equity at Jan. 28, 2024 42,978 $ 25 13,109 27 29,817
Increase (Decrease) in Shareholders' Equity          
Net income 31,480       31,480
Other comprehensive income (loss) 29     29  
Issuance of common stock from stock plans (in shares)   113.0      
Issuance of common stock from stock plans  285   285    
Tax withholding related to vesting of restricted stock units (in shares)   (32.0)      
Tax withholding related to vesting of restricted stock units $ (3,389)   (3,389)    
Shares repurchased (in shares) (162.1) (162.0)      
Shares repurchased $ (15,063)   (71)   (14,992)
Cash dividends declared and paid (344)       (344)
Stock-based compensation 2,181   2,181    
Ending balance, common stock outstanding (in shares) at Jul. 28, 2024   24,562.0      
Ending balances, shareholders' equity at Jul. 28, 2024 58,157 $ 25 12,115 56 45,961
Beginning balance, common stock outstanding (in shares) at Apr. 28, 2024   24,598.0      
Beginning balances, shareholders' equity at Apr. 28, 2024 49,142 $ 25 12,628 (109) 36,598
Increase (Decrease) in Shareholders' Equity          
Net income 16,599       16,599
Other comprehensive income (loss) 165     165  
Issuance of common stock from stock plans (in shares)   38.0      
Issuance of common stock from stock plans  0        
Tax withholding related to vesting of restricted stock units (in shares)   (11.0)      
Tax withholding related to vesting of restricted stock units $ (1,637)   (1,637)    
Shares repurchased (in shares) (62.8) (63.0)      
Shares repurchased $ (7,028)   (38)   (6,990)
Cash dividends declared and paid (246)       (246)
Stock-based compensation 1,162   1,162    
Ending balance, common stock outstanding (in shares) at Jul. 28, 2024   24,562.0      
Ending balances, shareholders' equity at Jul. 28, 2024 $ 58,157 $ 25 $ 12,115 $ 56 $ 45,961
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Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Statement of Stockholders' Equity [Abstract]        
Common stock, dividends per share, declared and paid (in dollars per share) $ 0.01 $ 0.004 $ 0.014 $ 0.008
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Cash flows from operating activities:    
Net income $ 31,480 $ 8,232
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 2,164 1,576
Depreciation and amortization 843 749
Gains on investments in non-affiliated entities and publicly-held equity securities, net (264) (45)
Deferred income taxes (3,276) (1,881)
Other (288) (102)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (4,133) (3,239)
Inventories (1,380) 861
Prepaid expenses and other assets (12) (592)
Accounts payable 801 789
Accrued and other current liabilities 3,314 2,675
Other long-term liabilities 584 236
Net cash provided by operating activities 29,833 9,259
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 8,098 5,111
Proceeds from sales of marketable securities 164 0
Purchases of marketable securities (15,047) (5,343)
Purchases related to property and equipment and intangible assets (1,346) (537)
Acquisitions, net of cash acquired (317) (83)
Purchases of investments in non-affiliated entities 534 456
Proceeds from sales of investments in non-affiliated entities 105 0
Other 0 21
Net cash used in investing activities (8,877) (1,287)
Cash flows from financing activities:    
Proceeds related to employee stock plans 285 247
Payments related to repurchases of common stock (14,898) (3,067)
Repayment of debt (1,250) (1,250)
Payments related to tax on restricted stock units (3,389) (1,179)
Dividends paid (344) (199)
Principal payments on property and equipment and intangible assets (69) (31)
Net cash used in financing activities (19,665) (5,479)
Change in cash, cash equivalents, and restricted cash 1,291 2,493
Cash, cash equivalents, and restricted cash at beginning of period 7,280 3,389
Cash, cash equivalents, and restricted cash at end of period 8,571 5,882
Cash and cash equivalents 8,563 5,783
Restricted cash, included in prepaid expenses and other current assets 8 99
Total cash, cash equivalents, and restricted cash 8,571 5,882
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net $ 7,449 $ 328
v3.24.2.u1
Summary of Significant Accounting Policies
6 Months Ended
Jul. 28, 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 second 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 annual reporting starting with fiscal year 2025. 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 annual reporting starting with fiscal year 2026. We are currently evaluating the impact of this standard on our Consolidated Financial Statements.
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Leases
6 Months Ended
Jul. 28, 2024
Leases [Abstract]  
Leases Leases
Our lease obligations primarily consist of operating leases for our headquarters complex, domestic and international office facilities, and data center space, with lease periods expiring between fiscal years 2025 and 2035.
Future minimum lease payments under our non-cancelable operating leases as of July 28, 2024 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$144 
2026316 
2027299 
2028280 
2029247 
2030 and thereafter
486 
Total1,772 
Less imputed interest218 
Present value of net future minimum lease payments1,554 
Less short-term operating lease liabilities250 
Long-term operating lease liabilities$1,304 
In addition, operating leases of $1.0 billion, primarily for our data centers, are expected to commence during fiscal year 2025 with lease terms of 2 to 10.5 years.
Operating lease expenses were $84 million and $67 million for the second quarter of fiscal years 2025 and 2024, respectively, and $164 million and $126 million for the first half of fiscal years 2025 and 2024, respectively. Short-term and variable lease expenses for the second quarter and first half of fiscal years 2025 and 2024 were not significant.
Other information related to leases was as follows:
Six Months Ended
Jul 28, 2024Jul 30, 2023
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$146 $135 
Operating lease assets obtained in exchange for lease obligations$405 $299 
As of July 28, 2024, our operating leases had a weighted average remaining lease term of 6.4 years and a weighted average discount rate of 4.03%. 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%.
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Stock-Based Compensation
6 Months Ended
Jul. 28, 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 that are based on our corporate financial performance targets, or PSUs, performance stock units that are based on market conditions, or market-based PSUs, and 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 EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Cost of revenue$40 $31 $75 $58 
Research and development832 600 1,559 1,124 
Sales, general and administrative282 211 530 394 
Total$1,154 $842 $2,164 $1,576 
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)
Balances, Jan 28, 2024367 $24.59 
Granted79 $82.68 
Vested(93)$19.23 
Canceled and forfeited(5)$28.82 
Balances, Jul 28, 2024348 $39.16 
As of July 28, 2024, aggregate unearned stock-based compensation expense was $12.8 billion, which is expected to be recognized over a weighted average period of 2.5 years for RSUs, PSUs, and market-based PSUs, and 0.8 years for ESPP.
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Net Income Per Share
6 Months Ended
Jul. 28, 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 EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions, except per share data)
Numerator:  
Net income$16,599 $6,188 $31,480 $8,232 
Denominator:
Basic weighted average shares24,578 24,729 24,599 24,716 
Dilutive impact of outstanding equity awards270 265 270 232 
Diluted weighted average shares24,848 24,994 24,869 24,948 
Net income per share:
Basic (1)$0.68 $0.25 $1.28 $0.33 
Diluted (2)$0.67 $0.25 $1.27 $0.33 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive104 68 136 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
Diluted net income per share is computed using the weighted average number of common and potentially dilutive shares outstanding during the period, using the treasury stock method. The anti-dilutive effect of equity awards outstanding is not included in the computation of diluted net income per share.
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Income Taxes
6 Months Ended
Jul. 28, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense was $2.6 billion and $5.0 billion for the second quarter and first half of fiscal year 2025, respectively, and $793 million and $958 million for the second quarter and first half of fiscal year 2024, respectively. The income tax expense as a percentage of income before income tax for the second quarter and first half of fiscal year 2025 was 13.6% and 13.7%, respectively, and 11.4% and 10.4% for the second quarter and first half of fiscal year 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.
Effective tax rates for the first half of fiscal years 2025 and 2024 were lower than the U.S. federal statutory rate of 21% due to tax benefits from stock-based compensation, the foreign-derived intangible income deduction, income earned in jurisdictions that are subject to taxes lower than the U.S. federal statutory tax rate, and the U.S. federal research tax credit.
Given our current and anticipated 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 evidence.
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 July 28, 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.
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Cash Equivalents and Marketable Securities
6 Months Ended
Jul. 28, 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:
 Jul 28, 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$14,051 $42 $(10)$14,083 $2,132 $11,951 
Corporate debt securities11,994 37 (7)12,024 682 11,342 
Money market funds5,252 — — 5,252 5,252 — 
Debt securities issued by U.S. government agencies2,461 (2)2,466 50 2,416 
Certificates of deposit141 — — 141 32 109 
Total marketable securities with fair value adjustments recorded in other comprehensive income$33,899 $86 $(19)$33,966 $8,148 $25,818 
Publicly-held equity securities (1)$419 $— $419 
Total$33,899 $86 $(19)$34,385 $8,148 $26,237 
(1)    Fair value adjustments on publicly-held equity securities are recorded in net income. 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.
For the second quarter and first half of fiscal year 2025, net unrealized gains on investments in publicly-held equity securities were $132 million and $181 million, respectively. For the second quarter and first half of fiscal year 2024, net unrealized gains on investments in publicly-held equity securities were not significant.
 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 marketable 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:
Jul 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 U.S. government agencies$4,031 $(8)$857 $(2)$4,888 $(10)
Corporate debt securities3,170 (5)396 (2)3,566 (7)
Debt securities issued by the U.S. Treasury1,210 (1)117 (1)1,327 (2)
Total$8,411 $(14)$1,370 $(5)$9,781 $(19)
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.
Jul 28, 2024Jan 28, 2024
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$15,535 $15,532 $16,336 $16,329 
Due in 1 - 5 years18,364 18,434 9,348 9,395 
Total$33,899 $33,966 $25,684 $25,724 
v3.24.2.u1
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities
6 Months Ended
Jul. 28, 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
Jul 28, 2024Jan 28, 2024
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$5,252 $3,031 
Publicly-held equity securitiesLevel 1$419 $— 
Debt securities issued by the U.S. TreasuryLevel 2$14,083 $9,524 
Corporate debt securitiesLevel 2$12,024 $10,152 
Debt securities issued by U.S. government agenciesLevel 2$2,466 $2,333 
Certificates of depositLevel 2$141 $510 
Foreign government bondsLevel 2$— $174 
Other assets (Investments in non-affiliated entities):
Publicly-held equity securitiesLevel 1$— $225 
Liabilities (1)
0.584% Notes Due 2024
Level 2$— $1,228 
3.20% Notes Due 2026
Level 2$973 $970 
1.55% Notes Due 2028
Level 2$1,126 $1,115 
2.85% Notes Due 2030
Level 2$1,380 $1,367 
2.00% Notes Due 2031
Level 2$1,068 $1,057 
3.50% Notes Due 2040
Level 2$839 $851 
3.50% Notes Due 2050
Level 2$1,559 $1,604 
3.70% Notes Due 2060
Level 2$386 $403 
(1)    These 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. 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 second quarter and first half of fiscal years 2025 and 2024 were as follows:
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$1,463 $496 $1,321 $288 
Adjustments related to non-marketable equity securities:
Net additions294 181 421 402 
Unrealized gains77 — 92 — 
Impairments and unrealized losses(15)(1)(15)(14)
Balance at end of period$1,819 $676 $1,819 $676 
Non-marketable equity securities had cumulative gross unrealized gains of $362 million and cumulative gross losses and impairments of $60 million as of July 28, 2024.
v3.24.2.u1
Amortizable Intangible Assets and Goodwill
6 Months Ended
Jul. 28, 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:
 Jul 28, 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$2,752 $(1,976)$776 $2,642 $(1,720)$922 
Patents and licensed technology442 (266)176 449 (259)190 
Total intangible assets$3,194 $(2,242)$952 $3,091 $(1,979)$1,112 
For the second quarter and first half of fiscal year 2025, amortization expense associated with intangible assets was $146 million and $289 million, respectively. For the second quarter and first half of fiscal year 2024, amortization expense was $146 million and $327 million, respectively.
The following table outlines the estimated amortization expense related to the net carrying amount of intangible assets as of July 28, 2024:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$295 
2026304 
2027192 
202851 
2029
2030 and thereafter101 
Total$952 
In the first half of fiscal year 2025, goodwill increased by $192 million from business combinations assigned to our Compute & Networking reporting unit.
v3.24.2.u1
Balance Sheet Components
6 Months Ended
Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components 
Three customers accounted for 23%, 15%, and 11% of our accounts receivable balance as of July 28, 2024. Two customers accounted for 24% and 11% of our accounts receivable balance as of January 28, 2024.
Certain balance sheet components are as follows:
 Jul 28, 2024Jan 28, 2024
Inventories:(In millions)
Raw materials$1,895 $1,719 
Work in process2,111 1,505 
Finished goods2,669 2,058 
Total inventories (1)$6,675 $5,282 
(1)    During the second quarter of fiscal years 2025 and 2024, we recorded an inventory provision of $345 million and $343 million, respectively and during the first half of fiscal years 2025 and 2024, we recorded an inventory provision of $555 million and $448 million, respectively, in cost of revenue.
 Jul 28, 2024Jan 28, 2024
Other Assets (Long Term):(In millions)
Investments in non-affiliated entities$1,819 $1,546 
Prepaid supply and capacity agreements (1)1,313 2,458 
Prepaid royalties352 364 
Prepaid tax331 
Other186 130 
Total other assets$4,001 $4,500 
(1)    As of July 28, 2024 and January 28, 2024, there were $3.3 billion and $2.5 billion of short-term prepaid supply and capacity agreements included in short term Prepaid expenses and other current assets, respectively.
 Jul 28, 2024Jan 28, 2024
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$3,584 $2,081 
Excess inventory purchase obligations (1)2,051 1,655 
Taxes payable1,173 296 
Deferred revenue (2)948 764 
Accrued payroll and related expenses941 675 
Product warranty and return provisions868 415 
Operating leases250 228 
Licenses and royalties154 182 
Unsettled share repurchases130 187 
Other190 199 
Total accrued and other current liabilities$10,289 $6,682 
(1)    During the second quarter of fiscal years 2025 and 2024, we recorded $563 million and $232 million, respectively and during the first half of fiscal years 2025 and 2024, we recorded $746 million and $261 million, respectively, in cost of revenue.

(2)    Deferred revenue includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of July 28, 2024 and January 28, 2024 included $340 million and $233 million of customer advances, respectively.
 Jul 28, 2024Jan 28, 2024
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,670 $1,361 
Deferred revenue (2)773 573 
Deferred income tax697 462 
Other196 145 
Total other long-term liabilities$3,336 $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)    Deferred revenue includes unearned revenue related to hardware support and software support.
Deferred Revenue
The following table shows the changes in short and long term deferred revenue during the first half of fiscal years 2025 and 2024:
Six Months Ended
 Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$1,337 $572 
Deferred revenue additions1,478 713 
Revenue recognized(1,094)(556)
Balance at end of period$1,721 $729 
We recognized revenue of $323 million and $199 million for the first half of fiscal years 2025 and 2024 respectively, that were included in the prior year end deferred revenue balances.
For revenue contracts with a length greater than one year, $1.3 billion is included in deferred revenue and $123 million has not yet been billed nor recognized as revenue as of July 28, 2024. Approximately 37% of this combined amount will be recognized as revenue over the next twelve months.
v3.24.2.u1
Derivative Financial Instruments
6 Months Ended
Jul. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
We entered into foreign currency forward contracts mitigating the impact of foreign currency exchange rate movements on our operating expenses. These contracts 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. 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:
 Jul 28, 2024Jan 28, 2024
(In millions)
Designated as cash flow hedges$1,278 $1,168 
Non-designated hedges$894 $597 
The unrealized gains and losses or fair value of our foreign currency contracts were not significant as of July 28, 2024 and January 28, 2024.
As of July 28, 2024, all designated foreign currency contracts mature within 18 months and the expected realized gains and losses were not significant.
During the first half of fiscal years 2025 and 2024, the impact of derivative financial instruments designated for cash flow hedges was not significant and the instruments were determined to be highly effective.
v3.24.2.u1
Debt
6 Months Ended
Jul. 28, 2024
Debt Disclosure [Abstract]  
Debt Debt
Long-Term Debt
Expected
Remaining Term (years)
Effective
Interest Rate
Carrying Value at
Jul 28, 2024Jan 28, 2024
(In millions)
0.584% Notes Due 2024 (1)
0.66%$— $1,250 
3.20% Notes Due 2026
2.13.31%1,000 1,000 
1.55% Notes Due 2028
3.91.64%1,250 1,250 
2.85% Notes Due 2030
5.72.93%1,500 1,500 
2.00% Notes Due 2031
6.92.09%1,250 1,250 
3.50% Notes Due 2040
15.73.54%1,000 1,000 
3.50% Notes Due 2050
25.73.54%2,000 2,000 
3.70% Notes Due 2060
35.73.73%500 500 
Unamortized debt discount and issuance costs(39)(41)
Net carrying amount8,461 9,709 
Less short-term portion— (1,250)
Total long-term portion$8,461 $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 are calendar year.
As of July 28, 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 July 28, 2024, we had no commercial paper outstanding.
v3.24.2.u1
Commitments and Contingencies
6 Months Ended
Jul. 28, 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 July 28, 2024, we had outstanding inventory purchases and long-term supply and capacity obligations totaling $27.8 billion, an increase from the prior year due to commitments for Hopper and 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, and 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 $12.0 billion, including $9.8 billion of multi-year cloud service agreements. We expect our cloud service agreements to be used to support our research and development efforts and our DGX Cloud offerings.
Total future purchase commitments as of July 28, 2024 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$21,934 
202610,671 
20272,778 
20282,436 
20291,543 
2030 and thereafter
419 
Total$39,781 
Accrual for Product Warranty Liabilities
The estimated amount of product warranty liabilities was $741 million and $306 million as of July 28, 2024 and January 28, 2024, respectively. The estimated product returns and product warranty activity consisted of the following:
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$532 $77 $306 $82 
Additions237 42 471 55 
Utilization(28)(4)(36)(22)
Balance at end of period$741 $115 $741 $115 
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. Four amicus briefs were filed in support of NVIDIA's petition. Oral arguments are scheduled for 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 July 28, 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.
v3.24.2.u1
Shareholders' Equity
6 Months Ended
Jul. 28, 2024
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity 
Capital Return Program 
During the second quarter and first half of fiscal year 2025, we repurchased 62.8 million and 162.1 million shares of our common stock for $7.0 billion and $15.1 billion, respectively. During the second quarter and first half of fiscal year 2024, we repurchased 75.5 million shares of our common stock for $3.3 billion. As of July 28, 2024, we were authorized, subject to certain specifications, to repurchase up to $7.5 billion of our common stock. On August 26, 2024, our Board of Directors approved an additional $50.0 billion to our share repurchase authorization, without expiration. As of August 26, 2024, a total of $53.9 billion was available for repurchase. 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 July 29, 2024 through August 26, 2024, we repurchased 31.5 million shares for $3.6 billion pursuant to a Rule 10b5-1 trading plan.
On June 7, 2024, we increased our quarterly cash dividend to $0.01 per share on a post-Stock Split basis to all shareholders of record on June 11, 2024. Our quarterly cash dividend was paid on June 28, 2024.
During the second quarter and first half of fiscal year 2025, we paid $246 million and $344 million in cash dividends, respectively. During the second quarter and first half of fiscal year 2024, we paid $99 million and $199 million in cash dividends to our shareholders, 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.
v3.24.2.u1
Segment Information
6 Months Ended
Jul. 28, 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 evaluate 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 Jul 28, 2024
    
Revenue$26,446 $3,594 $— $30,040 
Operating income (loss)$18,848 $1,369 $(1,575)$18,642 
Three Months Ended Jul 30, 2023
    
Revenue$10,402 $3,105 $— $13,507 
Operating income (loss)$6,728 $1,211 $(1,139)$6,800 
Six Months Ended Jul 28, 2024
Revenue$49,121 $6,963 $— $56,084 
Operating income (loss)$35,896 $2,609 $(2,954)$35,551 
Six Months Ended Jul 30, 2023
Revenue$14,862 $5,837 $— $20,699 
Operating income (loss)$8,887 $2,258 $(2,204)$8,941 
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(1,154)$(842)$(2,164)$(1,576)
Unallocated cost of revenue and operating expenses (280)(163)(508)(317)
Acquisition-related and other costs(144)(137)(286)(311)
Other— 
Total$(1,575)$(1,139)$(2,954)$(2,204)
Revenue by geographic areas 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 areas was as follows:
 Three Months EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions)
Revenue:  
United States$13,022 $6,043 $26,518 $8,428 
Taiwan5,740 2,839 10,113 4,635 
Singapore5,622 1,042 9,659 1,804 
China (including Hong Kong)3,667 2,740 6,158 4,330 
Other countries1,989 843 3,636 1,502 
Total revenue$30,040 $13,507 $56,084 $20,699 
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. 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 EndedSix Months Ended
 Jul 28, 2024Jul 28, 2024
Customer A14 %14 %
Customer B11 %
*
Customer C11 %
*
Customer D10 %10 %
Customer E
*
10 %
* Less than 10% of total revenue
One customer represented approximately 17% and 13% of total revenue for the second quarter and first half of fiscal year 2024, respectively, and was attributable to the Compute & Networking segment.
The following table summarizes revenue by specialized markets:
 Three Months EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions)
Revenue:  
Data Center$26,272 $10,323 $48,835 $14,607 
Compute22,604 8,612 41,996 11,969 
Networking3,668 1,711 6,839 2,638 
Gaming2,880 2,486 5,527 4,726 
Professional Visualization454 379 881 674 
Automotive346 253 675 549 
OEM and Other88 66 166 143 
Total revenue$30,040 $13,507 $56,084 $20,699 
v3.24.2.u1
Pay vs Performance Disclosure - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Pay vs Performance Disclosure        
Net income $ 16,599 $ 6,188 $ 31,480 $ 8,232
v3.24.2.u1
Insider Trading Arrangements
3 Months Ended 6 Months Ended
Jul. 28, 2024
shares
Jul. 28, 2024
shares
Trading Arrangements, by Individual    
Non-Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Terminated false  
Ajay K. Puri [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On July 22, 2024, Ajay K. Puri, Executive Vice President, Worldwide Field Operations, terminated a Rule 10b5-1 trading arrangement adopted on April 12, 2024 for the sale of up to 1,008,320 shares of our common stock on a post-split basis through July 11, 2025. 100,110 shares were sold under the plan prior to termination.
Name Ajay K. Puri  
Title Executive Vice President  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date April 12, 2024  
Rule 10b5-1 Arrangement Terminated true  
Termination Date July 22, 2024  
Expiration Date July 11, 2025  
Arrangement Duration 455 days  
Aggregate Available 1,008,320 1,008,320
v3.24.2.u1
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jul. 28, 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 second 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 annual reporting starting with fiscal year 2025. 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 annual reporting starting with fiscal year 2026. We are currently evaluating the impact of this standard on our Consolidated Financial Statements
v3.24.2.u1
Leases (Tables)
6 Months Ended
Jul. 28, 2024
Leases [Abstract]  
Schedule of Future Minimum Lease Payments
Future minimum lease payments under our non-cancelable operating leases as of July 28, 2024 were as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$144 
2026316 
2027299 
2028280 
2029247 
2030 and thereafter
486 
Total1,772 
Less imputed interest218 
Present value of net future minimum lease payments1,554 
Less short-term operating lease liabilities250 
Long-term operating lease liabilities$1,304 
Schedule of Other Information Related to Leases
Other information related to leases was as follows:
Six Months Ended
Jul 28, 2024Jul 30, 2023
 (In millions)
Supplemental cash flows information 
Operating cash flow used for operating leases$146 $135 
Operating lease assets obtained in exchange for lease obligations$405 $299 
v3.24.2.u1
Stock-Based Compensation (Tables)
6 Months Ended
Jul. 28, 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 EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Cost of revenue$40 $31 $75 $58 
Research and development832 600 1,559 1,124 
Sales, general and administrative282 211 530 394 
Total$1,154 $842 $2,164 $1,576 
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)
Balances, Jan 28, 2024367 $24.59 
Granted79 $82.68 
Vested(93)$19.23 
Canceled and forfeited(5)$28.82 
Balances, Jul 28, 2024348 $39.16 
v3.24.2.u1
Net Income Per Share (Tables)
6 Months Ended
Jul. 28, 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 EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions, except per share data)
Numerator:  
Net income$16,599 $6,188 $31,480 $8,232 
Denominator:
Basic weighted average shares24,578 24,729 24,599 24,716 
Dilutive impact of outstanding equity awards270 265 270 232 
Diluted weighted average shares24,848 24,994 24,869 24,948 
Net income per share:
Basic (1)$0.68 $0.25 $1.28 $0.33 
Diluted (2)$0.67 $0.25 $1.27 $0.33 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive104 68 136 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
v3.24.2.u1
Cash Equivalents and Marketable Securities (Tables)
6 Months Ended
Jul. 28, 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:
 Jul 28, 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$14,051 $42 $(10)$14,083 $2,132 $11,951 
Corporate debt securities11,994 37 (7)12,024 682 11,342 
Money market funds5,252 — — 5,252 5,252 — 
Debt securities issued by U.S. government agencies2,461 (2)2,466 50 2,416 
Certificates of deposit141 — — 141 32 109 
Total marketable securities with fair value adjustments recorded in other comprehensive income$33,899 $86 $(19)$33,966 $8,148 $25,818 
Publicly-held equity securities (1)$419 $— $419 
Total$33,899 $86 $(19)$34,385 $8,148 $26,237 
(1)    Fair value adjustments on publicly-held equity securities are recorded in net income. 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 marketable 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.
Jul 28, 2024Jan 28, 2024
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$15,535 $15,532 $16,336 $16,329 
Due in 1 - 5 years18,364 18,434 9,348 9,395 
Total$33,899 $33,966 $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:
Jul 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 U.S. government agencies$4,031 $(8)$857 $(2)$4,888 $(10)
Corporate debt securities3,170 (5)396 (2)3,566 (7)
Debt securities issued by the U.S. Treasury1,210 (1)117 (1)1,327 (2)
Total$8,411 $(14)$1,370 $(5)$9,781 $(19)
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)
v3.24.2.u1
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities (Tables)
6 Months Ended
Jul. 28, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Financial Assets and Liabilities
Pricing CategoryFair Value at
Jul 28, 2024Jan 28, 2024
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$5,252 $3,031 
Publicly-held equity securitiesLevel 1$419 $— 
Debt securities issued by the U.S. TreasuryLevel 2$14,083 $9,524 
Corporate debt securitiesLevel 2$12,024 $10,152 
Debt securities issued by U.S. government agenciesLevel 2$2,466 $2,333 
Certificates of depositLevel 2$141 $510 
Foreign government bondsLevel 2$— $174 
Other assets (Investments in non-affiliated entities):
Publicly-held equity securitiesLevel 1$— $225 
Liabilities (1)
0.584% Notes Due 2024
Level 2$— $1,228 
3.20% Notes Due 2026
Level 2$973 $970 
1.55% Notes Due 2028
Level 2$1,126 $1,115 
2.85% Notes Due 2030
Level 2$1,380 $1,367 
2.00% Notes Due 2031
Level 2$1,068 $1,057 
3.50% Notes Due 2040
Level 2$839 $851 
3.50% Notes Due 2050
Level 2$1,559 $1,604 
3.70% Notes Due 2060
Level 2$386 $403 
(1)    These 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 second quarter and first half of fiscal years 2025 and 2024 were as follows:
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$1,463 $496 $1,321 $288 
Adjustments related to non-marketable equity securities:
Net additions294 181 421 402 
Unrealized gains77 — 92 — 
Impairments and unrealized losses(15)(1)(15)(14)
Balance at end of period$1,819 $676 $1,819 $676 
v3.24.2.u1
Amortizable Intangible Assets and Goodwill (Tables)
6 Months Ended
Jul. 28, 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:
 Jul 28, 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$2,752 $(1,976)$776 $2,642 $(1,720)$922 
Patents and licensed technology442 (266)176 449 (259)190 
Total intangible assets$3,194 $(2,242)$952 $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 July 28, 2024:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$295 
2026304 
2027192 
202851 
2029
2030 and thereafter101 
Total$952 
v3.24.2.u1
Balance Sheet Components (Tables)
6 Months Ended
Jul. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Certain balance sheet components are as follows:
 Jul 28, 2024Jan 28, 2024
Inventories:(In millions)
Raw materials$1,895 $1,719 
Work in process2,111 1,505 
Finished goods2,669 2,058 
Total inventories (1)$6,675 $5,282 
(1)    During the second quarter of fiscal years 2025 and 2024, we recorded an inventory provision of $345 million and $343 million, respectively and during the first half of fiscal years 2025 and 2024, we recorded an inventory provision of $555 million and $448 million, respectively, in cost of revenue.
Schedule of Other Assets
 Jul 28, 2024Jan 28, 2024
Other Assets (Long Term):(In millions)
Investments in non-affiliated entities$1,819 $1,546 
Prepaid supply and capacity agreements (1)1,313 2,458 
Prepaid royalties352 364 
Prepaid tax331 
Other186 130 
Total other assets$4,001 $4,500 
(1)    As of July 28, 2024 and January 28, 2024, there were $3.3 billion and $2.5 billion of short-term prepaid supply and capacity agreements included in short term Prepaid expenses and other current assets, respectively.
Schedule of Accrued and Other Current Liabilities
 Jul 28, 2024Jan 28, 2024
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$3,584 $2,081 
Excess inventory purchase obligations (1)2,051 1,655 
Taxes payable1,173 296 
Deferred revenue (2)948 764 
Accrued payroll and related expenses941 675 
Product warranty and return provisions868 415 
Operating leases250 228 
Licenses and royalties154 182 
Unsettled share repurchases130 187 
Other190 199 
Total accrued and other current liabilities$10,289 $6,682 
(1)    During the second quarter of fiscal years 2025 and 2024, we recorded $563 million and $232 million, respectively and during the first half of fiscal years 2025 and 2024, we recorded $746 million and $261 million, respectively, in cost of revenue.

(2)    Deferred revenue includes customer advances and unearned revenue related to hardware support, software support, cloud services, and license and development arrangements. The balance as of July 28, 2024 and January 28, 2024 included $340 million and $233 million of customer advances, respectively.
Schedule of Other Long-term Liabilities
 Jul 28, 2024Jan 28, 2024
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,670 $1,361 
Deferred revenue (2)773 573 
Deferred income tax697 462 
Other196 145 
Total other long-term liabilities$3,336 $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)    Deferred revenue includes unearned revenue related to hardware support and software support.
Schedule of Changes in Deferred Revenue
The following table shows the changes in short and long term deferred revenue during the first half of fiscal years 2025 and 2024:
Six Months Ended
 Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$1,337 $572 
Deferred revenue additions1,478 713 
Revenue recognized(1,094)(556)
Balance at end of period$1,721 $729 
v3.24.2.u1
Derivative Financial Instruments (Tables)
6 Months Ended
Jul. 28, 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:
 Jul 28, 2024Jan 28, 2024
(In millions)
Designated as cash flow hedges$1,278 $1,168 
Non-designated hedges$894 $597 
v3.24.2.u1
Debt (Tables)
6 Months Ended
Jul. 28, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
Expected
Remaining Term (years)
Effective
Interest Rate
Carrying Value at
Jul 28, 2024Jan 28, 2024
(In millions)
0.584% Notes Due 2024 (1)
0.66%$— $1,250 
3.20% Notes Due 2026
2.13.31%1,000 1,000 
1.55% Notes Due 2028
3.91.64%1,250 1,250 
2.85% Notes Due 2030
5.72.93%1,500 1,500 
2.00% Notes Due 2031
6.92.09%1,250 1,250 
3.50% Notes Due 2040
15.73.54%1,000 1,000 
3.50% Notes Due 2050
25.73.54%2,000 2,000 
3.70% Notes Due 2060
35.73.73%500 500 
Unamortized debt discount and issuance costs(39)(41)
Net carrying amount8,461 9,709 
Less short-term portion— (1,250)
Total long-term portion$8,461 $8,459 
(1) We repaid the 0.584% Notes Due 2024 in the second quarter of fiscal year 2025.
v3.24.2.u1
Commitments and Contingencies (Tables)
6 Months Ended
Jul. 28, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Purchase Obligation, Fiscal Year Maturity
Total future purchase commitments as of July 28, 2024 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2025 (excluding first half of fiscal year 2025)
$21,934 
202610,671 
20272,778 
20282,436 
20291,543 
2030 and thereafter
419 
Total$39,781 
Schedule of Product Warranty Activity The estimated product returns and product warranty activity consisted of the following:
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Balance at beginning of period$532 $77 $306 $82 
Additions237 42 471 55 
Utilization(28)(4)(36)(22)
Balance at end of period$741 $115 $741 $115 
v3.24.2.u1
Segment Information (Tables)
6 Months Ended
Jul. 28, 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 Jul 28, 2024
    
Revenue$26,446 $3,594 $— $30,040 
Operating income (loss)$18,848 $1,369 $(1,575)$18,642 
Three Months Ended Jul 30, 2023
    
Revenue$10,402 $3,105 $— $13,507 
Operating income (loss)$6,728 $1,211 $(1,139)$6,800 
Six Months Ended Jul 28, 2024
Revenue$49,121 $6,963 $— $56,084 
Operating income (loss)$35,896 $2,609 $(2,954)$35,551 
Six Months Ended Jul 30, 2023
Revenue$14,862 $5,837 $— $20,699 
Operating income (loss)$8,887 $2,258 $(2,204)$8,941 
Three Months EndedSix Months Ended
Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(1,154)$(842)$(2,164)$(1,576)
Unallocated cost of revenue and operating expenses (280)(163)(508)(317)
Acquisition-related and other costs(144)(137)(286)(311)
Other— 
Total$(1,575)$(1,139)$(2,954)$(2,204)
Schedule of Revenue by Geographic Regions Revenue by geographic areas was as follows:
 Three Months EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions)
Revenue:  
United States$13,022 $6,043 $26,518 $8,428 
Taiwan5,740 2,839 10,113 4,635 
Singapore5,622 1,042 9,659 1,804 
China (including Hong Kong)3,667 2,740 6,158 4,330 
Other countries1,989 843 3,636 1,502 
Total revenue$30,040 $13,507 $56,084 $20,699 
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 EndedSix Months Ended
 Jul 28, 2024Jul 28, 2024
Customer A14 %14 %
Customer B11 %
*
Customer C11 %
*
Customer D10 %10 %
Customer E
*
10 %
* Less than 10% of total revenue
Schedule of Revenue by Specialized Markets
The following table summarizes revenue by specialized markets:
 Three Months EndedSix Months Ended
 Jul 28, 2024Jul 30, 2023Jul 28, 2024Jul 30, 2023
 (In millions)
Revenue:  
Data Center$26,272 $10,323 $48,835 $14,607 
Compute22,604 8,612 41,996 11,969 
Networking3,668 1,711 6,839 2,638 
Gaming2,880 2,486 5,527 4,726 
Professional Visualization454 379 881 674 
Automotive346 253 675 549 
OEM and Other88 66 166 143 
Total revenue$30,040 $13,507 $56,084 $20,699 
v3.24.2.u1
Summary of Significant Accounting Policies (Details)
1 Months Ended
May 31, 2024
Jun. 07, 2024
shares
Jun. 06, 2024
shares
Accounting Policies [Abstract]      
Stock split ratio 10    
Authorized number of shares of common stock (in shares)   80,000,000,000 8,000,000,000
Additional common stock issued to each shareholder on record (in shares)   9  
v3.24.2.u1
Leases - Schedule of Future Minimum Payments (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Leases [Abstract]    
2025 (excluding first half of fiscal year 2025) $ 144  
2026 316  
2027 299  
2028 280  
2029 247  
2030 and thereafter 486  
Total 1,772  
Less imputed interest 218  
Present value of net future minimum lease payments 1,554  
Less short-term operating lease liabilities 250 $ 228
Long-term operating lease liabilities $ 1,304 $ 1,119
v3.24.2.u1
Leases - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Jan. 28, 2024
Lessee, Lease, Description [Line Items]          
Operating lease expense $ 84 $ 67 $ 164 $ 126  
Weighted average remaining lease term - operating leases 6 years 4 months 24 days   6 years 4 months 24 days   6 years 1 month 6 days
Weighted average discount rate - operating leases (percent) 4.03%   4.03%   3.76%
Leases Not yet Commenced          
Lessee, Lease, Description [Line Items]          
Operating lease, not yet commenced, amount $ 1,000   $ 1,000    
Minimum          
Lessee, Lease, Description [Line Items]          
Lease not yet commenced, term of contract 2 years   2 years    
Maximum          
Lessee, Lease, Description [Line Items]          
Lease not yet commenced, term of contract 10 years 6 months   10 years 6 months    
v3.24.2.u1
Leases - Schedule of Other Lease Information (Details) - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Supplemental disclosure of cash flow information:    
Operating cash flow used for operating leases $ 146 $ 135
Operating lease assets obtained in exchange for lease obligations $ 405 $ 299
v3.24.2.u1
Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Share-based Compensation        
Stock-based compensation expense $ 1,154 $ 842 $ 2,164 $ 1,576
Cost of revenue        
Share-based Compensation        
Stock-based compensation expense 40 31 75 58
Research and development        
Share-based Compensation        
Stock-based compensation expense 832 600 1,559 1,124
Sales, general and administrative        
Share-based Compensation        
Stock-based compensation expense $ 282 $ 211 $ 530 $ 394
v3.24.2.u1
Stock-Based Compensation - Schedule of Equity Awards (Details) - RSUs, PSUs, and Market-based PSUs
shares in Millions
6 Months Ended
Jul. 28, 2024
$ / shares
shares
Number of Shares  
Outstanding, beginning balance (in shares) | shares 367
Granted (in shares) | shares 79
Vested (in shares) | shares (93)
Canceled and forfeited (in shares) | shares (5)
Outstanding, ending balance (in shares) | shares 348
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 82.68
Weighted average grant date fair value, Vested (in dollars per share) | $ / shares 19.23
Weighted average grant date fair value, canceled and forfeited (in dollars per share) | $ / shares 28.82
Weighted average grant date fair value, ending balance (in dollars per share) | $ / shares $ 39.16
v3.24.2.u1
Stock-Based Compensation - Narrative (Details)
$ in Billions
6 Months Ended
Jul. 28, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unearned stock-based compensation expense $ 12.8
RSUs, PSUs, and Market-based PSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Estimated weighted average amortization period 2 years 6 months
Employee Stock Purchase Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Estimated weighted average amortization period 9 months 18 days
v3.24.2.u1
Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Numerator:        
Net income $ 16,599 $ 6,188 $ 31,480 $ 8,232
Denominator:        
Basic weighted average shares (in shares) 24,578 24,729 24,599 24,716
Dilutive impact of outstanding equity awards (in shares) 270 265 270 232
Diluted weighted average shares (in shares) 24,848 24,994 24,869 24,948
Net income per share:        
Basic (in dollars per share) $ 0.68 $ 0.25 $ 1.28 $ 0.33
Diluted (in dollars per share) $ 0.67 $ 0.25 $ 1.27 $ 0.33
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive (in shares) 5 104 68 136
v3.24.2.u1
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Income Tax Disclosure [Abstract]        
Income tax expense $ 2,615 $ 793 $ 5,013 $ 958
Tax expense (benefit) as a percentage of income before income tax (percent) 13.60% 11.40% 13.70% 10.40%
v3.24.2.u1
Cash Equivalents and Marketable Securities - Schedule of Securities (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Summary of cash equivalents and marketable securities:    
Amortized Cost $ 33,899 $ 25,684
Unrealized Gain 86  
Unrealized Loss (19)  
Estimated Fair Value 33,966 25,724
Cash Equivalents 8,148  
Total Estimated Fair Value Disclosure 34,385  
Marketable securities,total 26,237  
Total marketable securities with fair value adjustments recorded in other comprehensive income    
Summary of cash equivalents and marketable securities:    
Amortized Cost 33,899 25,684
Unrealized Gain 86 56
Unrealized Loss (19) (16)
Estimated Fair Value 33,966 25,724
Cash Equivalents 8,148 7,020
Marketable Securities 25,818 18,704
Debt securities issued by the U.S. Treasury    
Summary of cash equivalents and marketable securities:    
Amortized Cost 14,051 9,517
Unrealized Gain 42 17
Unrealized Loss (10) (10)
Estimated Fair Value 14,083 9,524
Cash Equivalents 2,132 1,315
Marketable Securities 11,951 8,209
Corporate debt securities    
Summary of cash equivalents and marketable securities:    
Amortized Cost 11,994 10,126
Unrealized Gain 37 31
Unrealized Loss (7) (5)
Estimated Fair Value 12,024 10,152
Cash Equivalents 682 2,231
Marketable Securities 11,342 7,921
Money market funds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 5,252 3,031
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 5,252 3,031
Cash Equivalents 5,252 3,031
Marketable Securities 0 0
Debt securities issued by U.S. government agencies    
Summary of cash equivalents and marketable securities:    
Amortized Cost 2,461 2,326
Unrealized Gain 7 8
Unrealized Loss (2) (1)
Estimated Fair Value 2,466 2,333
Cash Equivalents 50 89
Marketable Securities 2,416 2,244
Certificates of deposit    
Summary of cash equivalents and marketable securities:    
Amortized Cost 141 510
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 141 510
Cash Equivalents 32 294
Marketable Securities 109 216
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 $ 419  
v3.24.2.u1
Cash Equivalents and Marketable Securities - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 28, 2024
Level 1 | Publicly-held equity securities    
Summary of cash equivalents and marketable securities:    
Unrealized gains on investments in publicly held equity securities $ 132 $ 181
v3.24.2.u1
Cash Equivalents and Marketable Securities - Schedule of Unrealized Losses Aggregated by Investment Category (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Estimated Fair Value    
Less than 12 Months $ 8,411 $ 5,319
12 Months or Greater 1,370 1,696
Total 9,781 7,015
Gross Unrealized Loss    
Less than 12 Months (14) (9)
12 Months or Greater (5) (7)
Total (19) (16)
Debt securities issued by the U.S. Treasury    
Estimated Fair Value    
Less than 12 Months 1,210 3,343
12 Months or Greater 117 1,078
Total 1,327 4,421
Gross Unrealized Loss    
Less than 12 Months (1) (5)
12 Months or Greater (1) (5)
Total (2) (10)
Corporate debt securities    
Estimated Fair Value    
Less than 12 Months 3,170 1,306
12 Months or Greater 396 618
Total 3,566 1,924
Gross Unrealized Loss    
Less than 12 Months (5) (3)
12 Months or Greater (2) (2)
Total (7) (5)
Debt securities issued by U.S. government agencies    
Estimated Fair Value    
Less than 12 Months 4,031 670
12 Months or Greater 857 0
Total 4,888 670
Gross Unrealized Loss    
Less than 12 Months (8) (1)
12 Months or Greater (2) 0
Total $ (10) $ (1)
v3.24.2.u1
Cash Equivalents and Marketable Securities - Schedule of Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Amortized Cost    
Less than one year $ 15,535 $ 16,336
Due in 1 - 5 years 18,364 9,348
Amortized Cost 33,899 25,684
Estimated Fair Value    
Less than one year 15,532 16,329
Due in 1 - 5 years 18,434 9,395
Estimated Fair Value $ 33,966 $ 25,724
v3.24.2.u1
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
Jul. 28, 2024
Jan. 28, 2024
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities $ 33,966 $ 25,724
0.584% Notes Due 2024 | Notes Payable    
Liabilities    
Stated interest rate (percent) 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 $ 5,252 $ 3,031
Corporate debt securities    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 12,024 10,152
Debt securities issued by the U.S. Treasury    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 14,083 9,524
Debt securities issued by U.S. government agencies    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 2,466 2,333
Certificates of deposit    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 141 510
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 419  
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 5,252 3,031
Level 1 | Publicly-held equity securities    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 419 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 973 970
Level 2 | 1.55% Notes Due 2028 | Notes Payable    
Liabilities    
Notes 1,126 1,115
Level 2 | 2.85% Notes Due 2030 | Notes Payable    
Liabilities    
Notes 1,380 1,367
Level 2 | 2.00% Notes Due 2031 | Notes Payable    
Liabilities    
Notes 1,068 1,057
Level 2 | 3.50% Notes Due 2040 | Notes Payable    
Liabilities    
Notes 839 851
Level 2 | 3.50% Notes Due 2050 | Notes Payable    
Liabilities    
Notes 1,559 1,604
Level 2 | 3.70% Notes Due 2060 | Notes Payable    
Liabilities    
Notes 386 403
Level 2 | Corporate debt securities    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 12,024 10,152
Level 2 | Debt securities issued by the U.S. Treasury    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 14,083 9,524
Level 2 | Debt securities issued by U.S. government agencies    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 2,466 2,333
Level 2 | Certificates of deposit    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities 141 510
Level 2 | Foreign government bonds    
Cash equivalents and marketable securities:    
Cash equivalents and marketable securities $ 0 $ 174
v3.24.2.u1
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 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Fair Value Disclosures [Abstract]        
Balance at beginning of period $ 1,463 $ 496 $ 1,321 $ 288
Net additions 294 181 421 402
Unrealized gains 77 0 92 0
Impairments and unrealized losses (15) (1) (15) (14)
Balance at end of period $ 1,819 $ 676 $ 1,819 $ 676
v3.24.2.u1
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Narrative (Details)
$ in Millions
Jul. 28, 2024
USD ($)
Fair Value Disclosures [Abstract]  
Cumulative gross unrealized gains $ 362
Cumulative gross losses and impairments $ (60)
v3.24.2.u1
Amortizable Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Jan. 28, 2024
Amortizable intangible assets components          
Gross Carrying Amount $ 3,194   $ 3,194   $ 3,091
Accumulated Amortization (2,242)   (2,242)   (1,979)
Net Carrying Amount 952   952   1,112
Amortization expense 146 $ 146 289 $ 327  
Increase in carrying amount of goodwill     192    
Amortization expense associated with intangible assets          
2025 (excluding first half of fiscal year 2025) 295   295    
2026 304   304    
2027 192   192    
2028 51   51    
2029 9   9    
2030 and thereafter 101   101    
Net Carrying Amount 952   952   1,112
Acquisition-related intangible assets          
Amortizable intangible assets components          
Gross Carrying Amount 2,752   2,752   2,642
Accumulated Amortization (1,976)   (1,976)   (1,720)
Net Carrying Amount 776   776   922
Amortization expense associated with intangible assets          
Net Carrying Amount 776   776   922
Patents and licensed technology          
Amortizable intangible assets components          
Gross Carrying Amount 442   442   449
Accumulated Amortization (266)   (266)   (259)
Net Carrying Amount 176   176   190
Amortization expense associated with intangible assets          
Net Carrying Amount $ 176   $ 176   $ 190
v3.24.2.u1
Balance Sheet Components - Narrative (Details) - Accounts Receivable - Customer Concentration Risk
6 Months Ended 12 Months Ended
Jul. 28, 2024
Jan. 28, 2024
Customer One    
Supply Commitment [Line Items]    
Concentration risk (as percent) 23.00% 24.00%
Customers Two    
Supply Commitment [Line Items]    
Concentration risk (as percent) 15.00% 11.00%
Customer Three    
Supply Commitment [Line Items]    
Concentration risk (as percent) 11.00%  
v3.24.2.u1
Balance Sheet Components - Schedule of Inventory (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Jan. 28, 2024
Inventories          
Raw materials $ 1,895   $ 1,895   $ 1,719
Work in process 2,111   2,111   1,505
Finished goods 2,669   2,669   2,058
Total inventories (1) 6,675   6,675   $ 5,282
Inventory reserve expense $ 345 $ 343 $ 555 $ 448  
v3.24.2.u1
Balance Sheet Components - Schedule of Other Assets (Long Term) (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Other Assets (Long Term):    
Investments in non-affiliated entities $ 1,819 $ 1,546
Prepaid supply and capacity agreements 1,313 2,458
Prepaid royalties 352 364
Prepaid tax 331 2
Other 186 130
Total other assets 4,001 4,500
Prepaid expenses and other current assets 4,026 3,080
Supply and Capacity Agreements    
Other Assets (Long Term):    
Prepaid expenses and other current assets $ 3,300 $ 2,500
v3.24.2.u1
Balance Sheet Components - Schedule of Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Jan. 28, 2024
Accrued and Other Current Liabilities:          
Customer program accruals $ 3,584   $ 3,584   $ 2,081
Excess inventory purchase obligations 2,051   2,051   1,655
Taxes payable 1,173   1,173   296
Deferred revenue 948   948   764
Accrued payroll and related expenses 941   941   675
Product warranty and return provisions 868   868   415
Operating leases 250   250   228
Licenses and royalties 154   154   182
Unsettled share repurchases 130   130   187
Other 190   190   199
Total accrued and other current liabilities $ 10,289   $ 10,289   $ 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 $ 7,466 $ 4,045 $ 13,105 $ 6,589  
Inventory Purchase Obligations In Excess Of Projections          
Accrued and Other Current Liabilities:          
Cost of revenue 563 $ 232 746 $ 261  
Nature Of Expense, Customer Advances          
Accrued and Other Current Liabilities:          
Deferred revenue $ 340   $ 340   $ 233
v3.24.2.u1
Balance Sheet Components - Schedule of Other Long-term Liabilities (Details) - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Other Long-Term Liabilities:    
Income tax payable $ 1,670 $ 1,361
Deferred revenue 773 573
Deferred income tax 697 462
Other 196 145
Total other long-term liabilities $ 3,336 $ 2,541
v3.24.2.u1
Balance Sheet Components - Schedule of Changes in Deferred Revenue (Details) - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Change in Deferred Revenue    
Balance at beginning of period $ 1,337 $ 572
Deferred revenue additions 1,478 713
Revenue recognized (1,094) (556)
Balance at end of period $ 1,721 $ 729
v3.24.2.u1
Balance Sheet Components - Revenue Remaining Performance Obligation (Details) - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Revenue recognized that was previously included in deferred revenue $ 323 $ 199
Deferred revenue 1,300  
Unbilled revenue $ 123  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-29    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]    
Revenue, remaining performance obligation (as percent) 37.00%  
Expected performance period 12 months  
v3.24.2.u1
Derivative Financial Instruments - Schedule of Notional Value of Our Foreign Currency Contracts Outstanding (Details) - Foreign currency forward contracts - USD ($)
$ in Millions
Jul. 28, 2024
Jan. 28, 2024
Designated as cash flow hedges    
Derivative [Line Items]    
Notional values of derivative contracts $ 1,278 $ 1,168
Non-designated hedges    
Derivative [Line Items]    
Notional values of derivative contracts $ 894 $ 597
v3.24.2.u1
Derivative Financial Instruments - Narrative (Details)
6 Months Ended
Jul. 28, 2024
Foreign currency forward contracts  
Derivative [Line Items]  
Maximum maturity period 18 months
v3.24.2.u1
Debt - Schedule of Long-term Debt (Details) - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jan. 28, 2024
Debt Instrument [Line Items]    
Unamortized debt discount and issuance costs $ (39) $ (41)
Net carrying amount 8,461 9,709
Less short-term portion 0 (1,250)
Total long-term portion $ 8,461 $ 8,459
0.584% Notes Due 2024 | Notes Payable    
Debt Instrument [Line Items]    
Interest rate (as percent) 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) 2 years 1 month 6 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 10 months 24 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 8 months 12 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 10 months 24 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 8 months 12 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 8 months 12 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 8 months 12 days  
Effective Interest Rate 3.73%  
Gross carrying amount $ 500 $ 500
v3.24.2.u1
Debt - Narrative (Details) - Commercial Paper Program - Commercial Paper
Jul. 28, 2024
USD ($)
Debt Instrument [Line Items]  
Current borrowing capacity $ 575,000,000
Outstanding commercial paper $ 0
v3.24.2.u1
Commitments and Contingencies - Narrative (Details)
$ in Millions
Jun. 17, 2024
brief
Jul. 28, 2024
USD ($)
Apr. 28, 2024
USD ($)
Jan. 28, 2024
USD ($)
Jul. 30, 2023
USD ($)
Apr. 30, 2023
USD ($)
Jan. 29, 2023
USD ($)
Other Commitments [Line Items]              
Inventory purchase and long-term supply and capacity obligations   $ 27,800          
Other non-inventory   12,000          
Product warranty liability accruals   741 $ 532 $ 306 $ 115 $ 77 $ 82
Securities Class Action and Derivative Lawsuits              
Other Commitments [Line Items]              
Number of amicus briefs | brief 4            
Multi-Year Cloud Service Agreements              
Other Commitments [Line Items]              
Other non-inventory   $ 9,800          
v3.24.2.u1
Commitments and Contingencies - Schedule of Future Commitments Due by Year (Details)
$ in Millions
Jul. 28, 2024
USD ($)
Fiscal Year:  
2025 (excluding first half of fiscal year 2025) $ 21,934
2026 10,671
2027 2,778
2028 2,436
2029 1,543
2030 and thereafter 419
Total $ 39,781
v3.24.2.u1
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]        
Beginning Balance $ 532 $ 77 $ 306 $ 82
Additions 237 42 471 55
Utilization (28) (4) (36) (22)
Ending Balance $ 741 $ 115 $ 741 $ 115
v3.24.2.u1
Shareholders' Equity (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 6 Months Ended
Jun. 28, 2024
Aug. 23, 2024
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Aug. 26, 2024
Subsequent Event [Line Items]              
Number of shares repurchased (in shares)     62.8 75.5 162.1 75.5  
Shares repurchased     $ 7,028 $ 3,284 $ 15,063 $ 3,284  
Authorized amounts under share repurchase program     $ 7,500   $ 7,500    
Quarterly common stock cash dividend (in dollars per share)     $ 0.01 $ 0.004 $ 0.014 $ 0.008  
Cash dividend paid (in usd per share) $ 0.01            
Dividends paid     $ 246 $ 99 $ 344 $ 199  
Subsequent Event              
Subsequent Event [Line Items]              
Number of shares repurchased (in shares)   31.5          
Shares repurchased   $ 3,600          
Additional authorization to repurchase shares             $ 50,000
Remaining authorized repurchase amount             $ 53,900
v3.24.2.u1
Segment Information - Narrative (Details)
6 Months Ended
Jul. 28, 2024
segment
Segment Reporting Information [Line Items]  
Number of reportable segments 2
v3.24.2.u1
Segment Information - Schedule of Segments (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Segment Reporting Information [Line Items]        
Revenue $ 30,040 $ 13,507 $ 56,084 $ 20,699
Operating income (loss) 18,642 6,800 35,551 8,941
Operating Segments | Compute & Networking        
Segment Reporting Information [Line Items]        
Revenue 26,446 10,402 49,121 14,862
Operating income (loss) 18,848 6,728 35,896 8,887
Operating Segments | Graphics        
Segment Reporting Information [Line Items]        
Revenue 3,594 3,105 6,963 5,837
Operating income (loss) 1,369 1,211 2,609 2,258
All Other        
Segment Reporting Information [Line Items]        
Revenue 0 0 0 0
Operating income (loss) $ (1,575) $ (1,139) $ (2,954) $ (2,204)
v3.24.2.u1
Segment Information - Schedule of Reconciling Items (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Segment Reporting Information [Line Items]        
Stock-based compensation expense $ (1,154) $ (842) $ (2,164) $ (1,576)
Operating income 18,642 6,800 35,551 8,941
All Other        
Segment Reporting Information [Line Items]        
Stock-based compensation expense (1,154) (842) (2,164) (1,576)
Unallocated cost of revenue and operating expenses (280) (163) (508) (317)
Acquisition-related and other costs (144) (137) (286) (311)
Other 3 3 4 0
Operating income $ (1,575) $ (1,139) $ (2,954) $ (2,204)
v3.24.2.u1
Segment Information - Schedule of Revenue by Geographic Regions (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Revenues        
Revenue $ 30,040 $ 13,507 $ 56,084 $ 20,699
United States        
Revenues        
Revenue 13,022 6,043 26,518 8,428
Taiwan        
Revenues        
Revenue 5,740 2,839 10,113 4,635
Singapore        
Revenues        
Revenue 5,622 1,042 9,659 1,804
China (including Hong Kong)        
Revenues        
Revenue 3,667 2,740 6,158 4,330
Other countries        
Revenues        
Revenue $ 1,989 $ 843 $ 3,636 $ 1,502
v3.24.2.u1
Segment Information - Concentration Risk (Details) - Compute & Networking - Revenue - Customer Concentration Risk
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Customer A        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent) 14.00%   14.00%  
Customer B        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent) 11.00%      
Customer C        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent) 11.00%      
Customer D        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent) 10.00%   10.00%  
Customer E        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent)     10.00%  
Customer One        
Revenue, Major Customer [Line Items]        
Concentration risk (as percent)   17.00%   13.00%
v3.24.2.u1
Segment Information - Schedule of Revenue by Market (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Jul. 28, 2024
Jul. 30, 2023
Revenue from External Customer [Line Items]        
Revenue $ 30,040 $ 13,507 $ 56,084 $ 20,699
Data Center        
Revenue from External Customer [Line Items]        
Revenue 26,272 10,323 48,835 14,607
Compute        
Revenue from External Customer [Line Items]        
Revenue 22,604 8,612 41,996 11,969
Networking        
Revenue from External Customer [Line Items]        
Revenue 3,668 1,711 6,839 2,638
Gaming        
Revenue from External Customer [Line Items]        
Revenue 2,880 2,486 5,527 4,726
Professional Visualization        
Revenue from External Customer [Line Items]        
Revenue 454 379 881 674
Automotive        
Revenue from External Customer [Line Items]        
Revenue 346 253 675 549
OEM and Other        
Revenue from External Customer [Line Items]        
Revenue $ 88 $ 66 $ 166 $ 143