Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions |
3 Months Ended | |
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Apr. 28, 2024 |
Apr. 30, 2023 |
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Income Statement [Abstract] | ||
Revenue | $ 26,044 | $ 7,192 |
Cost of revenue | 5,638 | 2,544 |
Gross profit | 20,406 | 4,648 |
Operating expenses | ||
Research and development | 2,720 | 1,875 |
Sales, general and administrative | 777 | 633 |
Total operating expenses | 3,497 | 2,508 |
Operating income | 16,909 | 2,140 |
Interest income | 359 | 150 |
Interest expense | (64) | (66) |
Other, net | 75 | (15) |
Other income (expense), net | 370 | 69 |
Income before income tax | 17,279 | 2,209 |
Income tax expense | 2,398 | 166 |
Net income | $ 14,881 | $ 2,043 |
Net income per share: | ||
Basic (in dollars per share) | $ 6.04 | $ 0.83 |
Diluted (in dollars per share) | $ 5.98 | $ 0.82 |
Weighted average shares used in per share computation: | ||
Basic (in shares) | 2,462 | 2,470 |
Diluted (in shares) | 2,489 | 2,490 |
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | |
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Apr. 28, 2024 |
Apr. 30, 2023 |
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Statement of Comprehensive Income [Abstract] | ||
Net income | $ 14,881 | $ 2,043 |
Available-for-sale securities: | ||
Net change in unrealized gain (loss) | (128) | 17 |
Cash flow hedges: | ||
Net change in unrealized loss | (4) | (13) |
Reclassification adjustments for net realized loss included in net income | (4) | (11) |
Net change in unrealized loss | (8) | (24) |
Other comprehensive loss, net of tax | (136) | (7) |
Total comprehensive income | $ 14,745 | $ 2,036 |
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares |
3 Months Ended | |
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Apr. 28, 2024 |
Apr. 30, 2023 |
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Statement of Stockholders' Equity [Abstract] | ||
Common stock, dividends per share, declared and paid (in dollars per share) | $ 0.04 | $ 0.04 |
Summary of Significant Accounting Policies |
3 Months Ended |
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Apr. 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 statement 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. 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 first 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 revenue recognition, cash equivalents and marketable securities, accounts receivable, inventories and product purchase commitments, income taxes, goodwill, stock-based compensation, litigation, investigation and settlement costs, property, plant, and equipment, and other contingencies. These estimates are based on historical facts and various 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 to provide for additional disclosures about significant expenses in operating segments. The standard is effective for our annual reporting starting with fiscal year 2025 and for interim period reporting starting in fiscal year 2026 retrospectively. 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 provides for new and updated income tax disclosures, including disaggregation of rate reconciliation and income taxes paid. The standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively, with retrospective application permitted. 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 |
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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 April 28, 2024 were as follows:
In addition, we have operating leases, primarily for our data centers, that are expected to commence during fiscal year 2025 with lease terms of 2 to 11 years for $923 million. Operating lease expenses were $80 million and $59 million for the first quarter of fiscal years 2025 and 2024, respectively. Short-term and variable lease expenses for the first quarter of fiscal years 2025 and 2024 were not significant. Other information related to leases was as follows:
As of April 28, 2024, our operating leases had a weighted average remaining lease term of 6.3 years and a weighted average discount rate of 3.89%. 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 |
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Stock-Based Compensation | Stock-Based Compensation Our 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 our employee stock purchase plan, or ESPP. Our 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:
Equity Award Activity The following is a summary of our equity award transactions under our equity incentive plans:
As of April 28, 2024, there was $13.2 billion of aggregate unearned stock-based compensation expense. This amount is expected to be recognized over a weighted average period of 2.6 years for RSUs, PSUs, and market-based PSUs, and 0.8 years for ESPP.
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Net Income Per Share |
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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:
(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. Any 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 |
3 Months Ended |
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Apr. 28, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income tax expense was $2.4 billion and $166 million for the first quarter of fiscal years 2025 and 2024, respectively. Income tax expense as a percentage of income before income tax was 13.9% and 7.5% for the first quarter of fiscal years 2025 and 2024, respectively. The effective tax rate increased primarily due to a decreased effect of tax benefits from the foreign-derived intangible income deduction and stock-based compensation relative to the increase in income before income tax. Our effective tax rates for the first quarter 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. 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 April 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 |
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Cash Equivalents and Marketable Securities | Cash Equivalents and Marketable Securities Our cash equivalents and marketable securities related to publicly held debt securities are classified as “available-for-sale” debt securities. The following is a summary of cash equivalents and marketable securities:
The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position:
The gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates. Net realized gains and losses were not significant for all periods presented. The amortized cost and estimated fair value of cash equivalents and marketable securities are shown below by contractual maturity.
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Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities |
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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 quoted market prices of similar assets from active markets. We review fair value hierarchy classification on a quarterly basis.
(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 marketable equity securities, which are publicly traded, and non-marketable equity securities, which are primarily investments in privately held companies. Our marketable equity securities have readily determinable fair values and are recorded in long-term other assets on our Condensed Consolidated Balance Sheets at fair value with changes in fair value recorded in Other income and expense, net on our Condensed Consolidated Statements of Income. Marketable equity securities totaled $287 million and $225 million as of April 28, 2024 and January 28, 2024, respectively. The net unrealized and realized gains and losses of investments in marketable securities were not significant for the first quarter of fiscal years 2025 and 2024. Our non-marketable equity securities are recorded in long-term other assets on our Condensed Consolidated Balance Sheets and valued under the measurement alternative. The carrying value of our non-marketable equity securities totaled $1.5 billion and $1.3 billion as of April 28, 2024 and January 28, 2024, respectively. 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 first quarter of fiscal years 2025 and 2024 were as follows:
The following table summarizes the cumulative gross unrealized gains, losses and impairments related to non-marketable equity securities:
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Amortizable Intangible Assets and Goodwill |
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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:
Amortization expense associated with intangible assets was $143 million and $181 million for the first quarter of fiscal year 2025 and 2024, respectively. The following table outlines the estimated amortization expense related to the net carrying amount of intangible assets as of April 28, 2024:
In the first quarter of fiscal year 2025, goodwill increased by $23 million from business combinations, and was assigned to our Compute & Networking segment.
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Balance Sheet Components |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Components | Balance Sheet Components Two customers accounted for 16% and 15% of our accounts receivable balance as of April 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:
(1) During the first quarter of fiscal years 2025 and 2024, we recorded an inventory provision of $210 million and $105 million, respectively, in cost of revenue.
(1) As of April 28, 2024 and January 28, 2024, there were an additional $3.3 billion and $2.5 billion of short-term prepaid supply and capacity agreements included in Prepaid expenses and other current assets, respectively.
(1) We did not make any estimated federal or state tax payments in the first quarter and expect our cash taxes to substantially increase in the second quarter as we will make two federal and state estimated tax payments. (2) During the first quarter of fiscal years 2025 and 2024, we recorded an expense of approximately $183 million and $29 million, respectively, in cost of revenue for inventory purchase obligations in excess of our current demand projections, supplier charges, and penalties related to cancellations and underutilization. (3) Deferred revenue primarily includes customer advances and deferrals related to hardware support, software support, cloud services, and license and development arrangements. $274 million and $233 million of the balance in the first quarter of fiscal year 2025 and in fiscal year 2024, respectively, were related to customer advances.
(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 primarily includes deferrals 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 quarter of fiscal years 2025 and 2024:
We recognized $188 million in revenue in the first quarter of fiscal year 2025 from deferred revenue as of January 28, 2024. Revenue allocated to remaining performance obligations, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods, was $1.3 billion as of April 28, 2024. We expect to recognize approximately 38% of this revenue over the next twelve months and the remainder thereafter. This excludes revenue related to performance obligations for contracts with a length of one year or less.
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Derivative Financial Instruments |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | Derivative Financial Instruments We enter into foreign currency forward contracts to mitigate the impact of foreign currency exchange rate movements on our operating expenses. These contracts are designated as cash flow hedges for hedge accounting treatment. 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 enter into foreign currency forward contracts to mitigate the impact of foreign currency movements on monetary assets and liabilities. The change in fair value of these non-designated contracts is recorded in other income or expense and offsets the change in fair value of the hedged foreign currency denominated monetary assets and liabilities, which is also recorded in other income or expense. The table below presents the notional value of our foreign currency contracts outstanding:
The unrealized gains and losses or fair value of our foreign currency contracts was not significant as of April 28, 2024 and January 28, 2024. As of April 28, 2024, all designated foreign currency contracts mature within 18 months. The expected realized gains and losses deferred to accumulated other comprehensive income or loss related to foreign currency contracts was not significant. During the first quarter of fiscal years 2025 and 2024, the impact of derivative financial instruments designated for hedge accounting treatment in other comprehensive income or loss was not significant and the instruments were determined to be highly effective.
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Debt |
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Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt Long-Term Debt
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 April 28, 2024, we were in compliance 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 April 28, 2024, we had no commercial paper outstanding.
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Commitments and Contingencies |
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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 April 28, 2024, we had outstanding inventory purchases and long-term supply and capacity obligations totaling $18.8 billion. 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. These changes may result in costs incurred through the date of cancellation. Other non-inventory purchase obligations were $10.6 billion, including $8.8 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 April 28, 2024 are as follows:
In addition to the purchase commitments included in the table above, at the end of the first quarter of fiscal year 2025, we had commitments of approximately $1.2 billion to complete business combinations, subject to closing conditions, and acquire land and buildings. Accrual for Product Warranty Liabilities The estimated amount of product warranty liabilities was $532 million and $306 million as of April 28, 2024 and January 28, 2024, respectively. The estimated product returns and product warranty activity consisted of the following:
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. Four amicus briefs in support of NVIDIA’s petition were filed on April 5, 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 April 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.
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Shareholders' Equity |
3 Months Ended |
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Apr. 28, 2024 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Capital Return Program During the first quarter of fiscal year 2025, we repurchased 9.9 million shares of our common stock for $8.0 billion. We did not repurchase any shares during the first quarter of fiscal year 2024. As of April 28, 2024, we were authorized, subject to certain specifications, to repurchase up to $14.5 billion additional shares of our common stock. Our share repurchase program aims to offset dilution from shares issued to employees. We may pursue additional share repurchases as we weigh market factors and other investment opportunities. From April 29, 2024 through May 24, 2024, we repurchased 2.3 million shares for $2.1 billion pursuant to a Rule 10b5-1 trading plan. During the first quarter of fiscal years 2025 and 2024, we paid $98 million and $99 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.
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Segment Information |
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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 platform; networking; automotive artificial intelligence, or AI, Cockpit, autonomous driving development agreements, and autonomous vehicle solutions; electric vehicle computing platforms; Jetson for robotics and other embedded platforms; NVIDIA AI Enterprise and other software; and DGX Cloud. 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.
Revenue by geographic areas is based upon the billing location of the customer. End customer and shipping location may be different from our customer’s billing location. For example, most of the shipments associated with Singapore revenue went to either the United States or Taiwan in the first quarter of fiscal year 2025. Shipments to Singapore were insignificant. Revenue by geographic areas was as follows:
The increase in revenue to the United States for the first quarter of fiscal year 2025 was primarily due to higher U.S.-based Compute & Networking segment demand. Sales to one direct customer, Customer A, represented 13% of total revenue and sales to a second direct customer, Customer B, represented 11% of total revenue for the first quarter of fiscal year 2025, both of which were attributable to the Compute & Networking segment. No customer represented 10% or more of total revenue for the first quarter of fiscal year 2024. The following table summarizes information pertaining to our revenue by each of the specialized markets we serve:
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Subsequent Events |
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Subsequent Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Events | Subsequent Events On May 22, 2024, we announced a ten-for-one forward stock split, or the Stock Split, of our issued common stock to be effected through the filing of an amendment to our Restated Certificate of Incorporation, or the Amendment, with the Secretary of the State of Delaware. The Amendment will result in a proportionate increase in the number of shares of authorized common stock. As a result of the Stock Split, each record holder of common stock as of the close of market on June 6, 2024 will receive nine additional shares of common stock, to be distributed after the close of market on June 7, 2024. The following table reflects basic and diluted weighted average shares and net income per share on an unaudited pro forma basis giving effect to the Stock Split as if it had been effective for all periods presented:
(1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares. On May 22, 2024, we also announced an increase in our quarterly cash dividend by 150% from $0.04 per share to $0.10 per share of common stock. The increased dividend is equivalent to $0.01 per share on a post-Stock Split basis and will be paid on June 28, 2024, to all shareholders of record on June 11, 2024.
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Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | |
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Apr. 28, 2024 |
Apr. 30, 2023 |
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Pay vs Performance Disclosure | ||
Net income | $ 14,881 | $ 2,043 |
Insider Trading Arrangements |
3 Months Ended |
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Apr. 28, 2024
shares
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Trading Arrangements, by Individual | |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Debora Shoquist [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On March 4, 2024, Debora Shoquist, Executive Vice President, Operations, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 41,140 shares of our common stock through June 2, 2025. |
Name | Debora Shoquist |
Title | Executive Vice President |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 4, 2024 |
Arrangement Duration | 455 days |
Aggregate Available | 41,140 |
Jen-Hsun Huang [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On March 14, 2024, Jen-Hsun Huang, President and Chief Executive Officer, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 600,000 shares of our common stock through March 31, 2025. |
Name | Jen-Hsun Huang |
Title | President and Chief Executive Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 14, 2024 |
Arrangement Duration | 382 days |
Aggregate Available | 600,000 |
Colette M. Kress [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On March 22, 2024, Colette M. Kress, Executive Vice President and Chief Financial Officer, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 50,000 shares of our common stock through May 15, 2025. |
Name | Colette M. Kress |
Title | Executive Vice President and Chief Financial Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 22, 2024 |
Arrangement Duration | 419 days |
Aggregate Available | 50,000 |
Ajay K. Puri [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On April 12, 2024, Ajay K. Puri, Executive Vice President, Worldwide Field Operations, adopted a Rule 10b5-1 Trading Arrangement for the sale of up to 100,832 shares of our common stock through July 11, 2025. |
Name | Ajay K. Puri |
Title | Executive Vice President |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | April 12, 2024 |
Arrangement Duration | 455 days |
Aggregate Available | 100,832 |
Summary of Significant Accounting Policies (Policies) |
3 Months Ended |
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Apr. 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 statement 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.
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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 first quarters of fiscal years 2025 and 2024 were both 13-week quarters.
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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.
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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 revenue recognition, cash equivalents and marketable securities, accounts receivable, inventories and product purchase commitments, income taxes, goodwill, stock-based compensation, litigation, investigation and settlement costs, property, plant, and equipment, and other contingencies. These estimates are based on historical facts and various other assumptions that we believe are reasonable.
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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 to provide for additional disclosures about significant expenses in operating segments. The standard is effective for our annual reporting starting with fiscal year 2025 and for interim period reporting starting in fiscal year 2026 retrospectively. 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 provides for new and updated income tax disclosures, including disaggregation of rate reconciliation and income taxes paid. The standard is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and should be applied prospectively, with retrospective application permitted. 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 (Tables) |
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Apr. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Future Minimum Lease Payments | Future minimum lease payments under our non-cancelable operating leases as of April 28, 2024 were as follows:
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Schedule of Other Information Related to Leases | Other information related to leases was as follows:
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Stock-Based Compensation (Tables) |
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Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Stock-Based Compensation Expense, Net of Amounts Capitalized as Inventory | Our 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:
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Schedule of Equity Awards | The following is a summary of our equity award transactions under our equity incentive plans:
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Net Income Per Share (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 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:
(1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares. The following table reflects basic and diluted weighted average shares and net income per share on an unaudited pro forma basis giving effect to the Stock Split as if it had been effective for all periods presented:
(1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares.
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Cash Equivalents and Marketable Securities (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 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:
The amortized cost and estimated fair value of cash equivalents and marketable securities are shown below by contractual maturity.
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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 securities have been in a continuous loss position:
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Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value of Financial Assets and Liabilities |
(1) These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
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Schedule of Equity Securities without Readily Determinable Fair Value | Adjustments to the carrying value of our non-marketable equity securities during the first quarter of fiscal years 2025 and 2024 were as follows:
The following table summarizes the cumulative gross unrealized gains, losses and impairments related to non-marketable equity securities:
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Amortizable Intangible Assets and Goodwill (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 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:
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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 April 28, 2024:
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Balance Sheet Components (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Inventory | Certain balance sheet components are as follows:
(1) During the first quarter of fiscal years 2025 and 2024, we recorded an inventory provision of $210 million and $105 million, respectively, in cost of revenue.
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Schedule of Other Assets |
(1) As of April 28, 2024 and January 28, 2024, there were an additional $3.3 billion and $2.5 billion of short-term prepaid supply and capacity agreements included in Prepaid expenses and other current assets, respectively.
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Schedule of Accrued and Other Current Liabilities |
(1) We did not make any estimated federal or state tax payments in the first quarter and expect our cash taxes to substantially increase in the second quarter as we will make two federal and state estimated tax payments. (2) During the first quarter of fiscal years 2025 and 2024, we recorded an expense of approximately $183 million and $29 million, respectively, in cost of revenue for inventory purchase obligations in excess of our current demand projections, supplier charges, and penalties related to cancellations and underutilization. (3) Deferred revenue primarily includes customer advances and deferrals related to hardware support, software support, cloud services, and license and development arrangements. $274 million and $233 million of the balance in the first quarter of fiscal year 2025 and in fiscal year 2024, respectively, were related to customer advances.
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Schedule of Other Long-term Liabilities |
(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 primarily includes deferrals related to hardware support and software support.
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Schedule of Changes in Deferred Revenue | The following table shows the changes in short and long term deferred revenue during the first quarter of fiscal years 2025 and 2024:
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Derivative Financial Instruments (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 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:
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Debt (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 28, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt |
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Commitments and Contingencies (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Purchase Obligation, Fiscal Year Maturity | Total future purchase commitments as of April 28, 2024 are as follows:
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Schedule of Product Warranty Activity | The estimated product returns and product warranty activity consisted of the following:
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Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 28, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Reportable Segments | The table below presents details of our reportable segments and the “All Other” category.
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Schedule of Revenue by Geographic Regions | Revenue by geographic areas was as follows:
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Schedule of Revenue by Specialized Markets | The following table summarizes information pertaining to our revenue by each of the specialized markets we serve:
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Subsequent Events (Tables) |
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Subsequent Events [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:
(1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares. The following table reflects basic and diluted weighted average shares and net income per share on an unaudited pro forma basis giving effect to the Stock Split as if it had been effective for all periods presented:
(1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares.
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Leases - Schedule of Future Minimum Payments (Details) - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Leases [Abstract] | ||
2025 (excluding first quarter of fiscal year 2025) | $ 221 | |
2026 | 306 | |
2027 | 290 | |
2028 | 270 | |
2029 | 236 | |
2030 and thereafter | 410 | |
Total | 1,733 | |
Less imputed interest | 206 | |
Present value of net future minimum lease payments | 1,527 | |
Less short-term operating lease liabilities | 246 | $ 228 |
Long-term operating lease liabilities | $ 1,281 | $ 1,119 |
Leases - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
Jan. 28, 2024 |
|
Lessee, Lease, Description [Line Items] | |||
Operating lease, not yet commenced, amount | $ 923 | ||
Operating lease expense | $ 80 | $ 59 | |
Weighted average remaining lease term - operating leases | 6 years 3 months 18 days | 6 years 1 month 6 days | |
Weighted average discount rate - operating leases (percent) | 3.89% | 3.76% | |
Minimum | |||
Lessee, Lease, Description [Line Items] | |||
Lease not yet commenced, term of contract | 2 years | ||
Maximum | |||
Lessee, Lease, Description [Line Items] | |||
Lease not yet commenced, term of contract | 11 years |
Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
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Supplemental disclosure of cash flow information: | ||
Operating cash flows used for operating leases | $ 69 | $ 61 |
Operating lease assets obtained in exchange for lease obligations | $ 250 | $ 106 |
Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Share-based Compensation | ||
Stock-based compensation expense | $ 1,011 | $ 735 |
Cost of revenue | ||
Share-based Compensation | ||
Stock-based compensation expense | 36 | 27 |
Research and development | ||
Share-based Compensation | ||
Stock-based compensation expense | 727 | 524 |
Sales, general and administrative | ||
Share-based Compensation | ||
Stock-based compensation expense | $ 248 | $ 184 |
Stock-Based Compensation - Schedule of Equity Awards (Details) - RSUs, PSUs, and Market-based PSUs shares in Millions |
3 Months Ended |
---|---|
Apr. 28, 2024
$ / shares
shares
| |
Number of Shares | |
Outstanding, beginning balance (in shares) | shares | 37 |
Granted (in shares) | shares | 7 |
Vested (in shares) | shares | (6) |
Outstanding, ending balance (in shares) | shares | 38 |
Weighted Average Grant-Date Fair Value Per Share | |
Weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 245.94 |
Weighted average grant date fair value, granted (in dollars per share) | $ / shares | 801.79 |
Weighted average grant date fair value, Vested (in dollars per share) | $ / shares | 176.59 |
Weighted average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 361.45 |
Stock-Based Compensation - Narrative (Details) $ in Billions |
3 Months Ended |
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Apr. 28, 2024
USD ($)
| |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unearned stock-based compensation expense | $ 13.2 |
RSUs, PSUs, and Market-based PSUs | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Estimated weighted average amortization period | 2 years 7 months 6 days |
Employee Stock Purchase Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Estimated weighted average amortization period | 9 months 18 days |
Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Numerator: | ||
Net income | $ 14,881 | $ 2,043 |
Denominator: | ||
Basic weighted average shares (in shares) | 2,462 | 2,470 |
Dilutive impact of outstanding equity awards (in shares) | 27 | 20 |
Diluted weighted average shares (in shares) | 2,489 | 2,490 |
Net income per share: | ||
Basic (in dollars per share) | $ 6.04 | $ 0.83 |
Diluted (in dollars per share) | $ 5.98 | $ 0.82 |
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive (in shares) | 6 | 4 |
Income Taxes (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Income Tax Disclosure [Abstract] | ||
Income tax expense | $ 2,398 | $ 166 |
Tax expense (benefit) as a percentage of income before income tax (percent) | 13.90% | 7.50% |
Cash Equivalents and Marketable Securities - Schedule of Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Amortized Cost | ||
Less than one year | $ 16,811 | $ 16,336 |
Due in 1 - 5 years | 14,400 | 9,348 |
Amortized Cost | 31,211 | 25,684 |
Estimated Fair Value | ||
Less than one year | 16,800 | 16,329 |
Due in 1 - 5 years | 14,302 | 9,395 |
Estimated Fair Value | $ 31,102 | $ 25,724 |
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Narrative (Details) - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Financial assets and liabilities measured at fair value: | ||
Investments in non-affiliated entities | $ 1,750 | $ 1,546 |
Privately-held equity securities | Level 3 | ||
Financial assets and liabilities measured at fair value: | ||
Investments in non-affiliated entities | $ 1,500 | $ 1,300 |
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 | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Investments, Debt and Equity Securities [Abstract] | ||
Carrying amount, beginning | $ 1,321 | $ 288 |
Net additions | 127 | 221 |
Unrealized gains | 15 | 0 |
Impairments and unrealized losses | 0 | (13) |
Balance at end of period | $ 1,463 | $ 496 |
Fair Value of Financial Assets and Liabilities and Investments in Non-Affiliated Entities - Schedule of Cumulative Gross (Details) $ in Millions |
Apr. 28, 2024
USD ($)
|
---|---|
Investments, Debt and Equity Securities [Abstract] | |
Cumulative gross unrealized gains | $ 285 |
Cumulative gross impairments and unrealized losses | $ (45) |
Balance Sheet Components - Narrative (Details) - Accounts Receivable - Customer Concentration Risk |
3 Months Ended | 12 Months Ended |
---|---|---|
Apr. 28, 2024 |
Jan. 28, 2024 |
|
Customer One | ||
Supply Commitment [Line Items] | ||
Concentration risk (as percent) | 16.00% | 24.00% |
Customers Two | ||
Supply Commitment [Line Items] | ||
Concentration risk (as percent) | 15.00% | 11.00% |
Balance Sheet Components - Schedule of Inventory (Details) - USD ($) $ in Millions |
3 Months Ended | ||
---|---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
Jan. 28, 2024 |
|
Inventories | |||
Raw materials | $ 1,991 | $ 1,719 | |
Work in process | 1,625 | 1,505 | |
Finished goods | 2,248 | 2,058 | |
Total inventories | 5,864 | $ 5,282 | |
Inventory reserve expense | $ 210 | $ 105 |
Balance Sheet Components - Schedule of Other Assets (Details) - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Other Assets: | ||
Prepaid supply and capacity agreements | $ 2,232 | $ 2,458 |
Investments in non-affiliated entities | 1,750 | 1,546 |
Prepaid royalties | 358 | 364 |
Other | 228 | 132 |
Total other assets | 4,568 | 4,500 |
Prepaid expenses and other current assets | 4,062 | 3,080 |
Supply and Capacity Agreements | ||
Other Assets: | ||
Prepaid expenses and other current assets | $ 3,300 | $ 2,500 |
Balance Sheet Components - Schedule of Other Long-term Liabilities (Details) - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Other Long-Term Liabilities: | ||
Income tax payable | $ 1,553 | $ 1,361 |
Deferred revenue | 704 | 573 |
Deferred income tax | 583 | 462 |
Licenses payable | 60 | 80 |
Other | 66 | 65 |
Total other long-term liabilities | $ 2,966 | $ 2,541 |
Balance Sheet Components - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Change in Deferred Revenue | ||
Balance at beginning of period | $ 1,337 | $ 572 |
Deferred revenue additions during the period | 553 | 287 |
Revenue recognized during the period | (341) | (262) |
Balance at end of period | $ 1,549 | $ 597 |
Balance Sheet Components - Revenue Remaining Performance Obligation (Details) $ in Millions |
3 Months Ended |
---|---|
Apr. 28, 2024
USD ($)
| |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue recognized that was previously included in deferred revenue | $ 188 |
Revenue, remaining performance obligation | $ 1,300 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-29 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation (as percent) | 38.00% |
Expected performance period | 12 months |
Derivative Financial Instruments - Schedule of Notional Value of Our Foreign Currency Contracts Outstanding (Details) - Foreign currency forward contracts - USD ($) $ in Millions |
Apr. 28, 2024 |
Jan. 28, 2024 |
---|---|---|
Designated as cash flow hedges | ||
Derivative [Line Items] | ||
Notional values of derivative contracts | $ 1,198 | $ 1,168 |
Non-designated hedges | ||
Derivative [Line Items] | ||
Notional values of derivative contracts | $ 704 | $ 597 |
Derivative Financial Instruments - Narrative (Details) |
3 Months Ended |
---|---|
Apr. 28, 2024 | |
Foreign currency forward contracts | |
Derivative [Line Items] | |
Maximum maturity period | 18 months |
Debt - Narrative (Details) - Commercial Paper Program - Commercial Paper |
Apr. 28, 2024
USD ($)
|
---|---|
Debt Instrument [Line Items] | |
Current borrowing capacity | $ 575,000,000 |
Outstanding commercial paper | $ 0 |
Commitments and Contingencies - Narrative (Details) $ in Millions |
3 Months Ended | ||||
---|---|---|---|---|---|
Apr. 05, 2024
brief
|
Apr. 28, 2024
USD ($)
|
Jan. 28, 2024
USD ($)
|
Apr. 30, 2023
USD ($)
|
Jan. 29, 2023
USD ($)
|
|
Other Commitments [Line Items] | |||||
Inventory purchase and long-term supply and capacity obligations | $ 18,800 | ||||
Other non-inventory | 10,600 | ||||
Asset acquisition price under business combination agreements | 1,200 | ||||
Warranty liability accruals | 532 | $ 306 | $ 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 | $ 8,800 |
Commitments and Contingencies - Schedule of Future Commitments Due by Year (Details) $ in Millions |
Apr. 28, 2024
USD ($)
|
---|---|
Fiscal Year: | |
2025 (excluding first quarter of fiscal year 2025) | $ 19,306 |
2026 | 3,438 |
2027 | 2,573 |
2028 | 2,222 |
2029 | 1,585 |
2030 and thereafter | 249 |
Total | $ 29,373 |
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward] | ||
Beginning Balance | $ 306 | $ 82 |
Additions | 234 | 13 |
Utilization | (8) | (18) |
Ending Balance | $ 532 | $ 77 |
Shareholders' Equity (Details) - USD ($) shares in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | |
---|---|---|---|
May 24, 2024 |
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Subsequent Event [Line Items] | |||
Number of shares repurchased (in shares) | 9.9 | 0.0 | |
Shares repurchased | $ 8,035 | ||
Authorized amounts under share repurchase program | 14,500 | ||
Dividends paid | $ 98 | $ 99 | |
Subsequent Event | |||
Subsequent Event [Line Items] | |||
Number of shares repurchased (in shares) | 2.3 | ||
Shares repurchased | $ 2,100 |
Segment Information - Narrative (Details) |
3 Months Ended |
---|---|
Apr. 28, 2024
segment
| |
Segment Reporting Information [Line Items] | |
Number of reportable segments | 2 |
Revenue | Customer Concentration Risk | Customer A | |
Segment Reporting Information [Line Items] | |
Concentration risk (as percent) | 13.00% |
Revenue | Customer Concentration Risk | Customer B | |
Segment Reporting Information [Line Items] | |
Concentration risk (as percent) | 11.00% |
Segment Information - Schedule of Segments (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Segment Reporting Information [Line Items] | ||
Revenue | $ 26,044 | $ 7,192 |
Operating income (loss) | 16,909 | 2,140 |
Operating Segments | Compute & Networking | ||
Segment Reporting Information [Line Items] | ||
Revenue | 22,675 | 4,460 |
Operating income (loss) | 17,047 | 2,160 |
Operating Segments | Graphics | ||
Segment Reporting Information [Line Items] | ||
Revenue | 3,369 | 2,732 |
Operating income (loss) | 1,241 | 1,046 |
All Other | ||
Segment Reporting Information [Line Items] | ||
Revenue | 0 | 0 |
Operating income (loss) | $ (1,379) | $ (1,066) |
Segment Information - Schedule of Reconciling Items (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Segment Reporting Information [Line Items] | ||
Stock-based compensation expense | $ (1,011) | $ (735) |
Operating income | 16,909 | 2,140 |
All Other | ||
Segment Reporting Information [Line Items] | ||
Stock-based compensation expense | (1,011) | (735) |
Unallocated cost of revenue and operating expenses | (229) | (154) |
Acquisition-related and other costs | (140) | (173) |
Other | 1 | (4) |
Operating income | $ (1,379) | $ (1,066) |
Segment Information - Schedule of Revenue by Geographic Regions (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Revenues | ||
Revenue | $ 26,044 | $ 7,192 |
United States | ||
Revenues | ||
Revenue | 13,496 | 2,385 |
Taiwan | ||
Revenues | ||
Revenue | 4,373 | 1,796 |
Singapore | ||
Revenues | ||
Revenue | 4,037 | 762 |
China (including Hong Kong) | ||
Revenues | ||
Revenue | 2,491 | 1,590 |
Other countries | ||
Revenues | ||
Revenue | $ 1,647 | $ 659 |
Segment Information - Schedule of Revenue by Market (Details) - USD ($) $ in Millions |
3 Months Ended | |
---|---|---|
Apr. 28, 2024 |
Apr. 30, 2023 |
|
Revenue from External Customer [Line Items] | ||
Revenue | $ 26,044 | $ 7,192 |
Data Center | ||
Revenue from External Customer [Line Items] | ||
Revenue | 22,563 | 4,284 |
Compute | ||
Revenue from External Customer [Line Items] | ||
Revenue | 19,392 | 3,357 |
Networking | ||
Revenue from External Customer [Line Items] | ||
Revenue | 3,171 | 927 |
Gaming | ||
Revenue from External Customer [Line Items] | ||
Revenue | 2,647 | 2,240 |
Professional Visualization | ||
Revenue from External Customer [Line Items] | ||
Revenue | 427 | 295 |
Automotive | ||
Revenue from External Customer [Line Items] | ||
Revenue | 329 | 296 |
OEM and Other | ||
Revenue from External Customer [Line Items] | ||
Revenue | $ 78 | $ 77 |