NVIDIA CORP, 10-Q filed on 5/26/2023
Quarterly Report
v3.23.1
Cover - shares
shares in Millions
 3 Months Ended
Apr. 30, 2023
May 19, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Apr. 30, 2023  
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, $0.001 par value per share  
Trading Symbol NVDA  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   2,470
Entity Central Index Key 0001045810  
Current Fiscal Year End Date --01-28  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Income Statement [Abstract]    
Revenue $ 7,192 $ 8,288
Cost of revenue 2,544 2,857
Gross profit 4,648 5,431
Operating expenses    
Research and development 1,875 1,618
Sales, general and administrative 633 592
Acquisition termination cost 0 1,353
Total operating expenses 2,508 3,563
Income from operations 2,140 1,868
Interest income 150 18
Interest expense (66) (68)
Other, net (15) (13)
Other income (expense), net 69 (63)
Income before income tax 2,209 1,805
Income tax expense 166 187
Net income $ 2,043 $ 1,618
Net income per share:    
Basic (in dollars per share) $ 0.83 $ 0.65
Diluted (in dollars per share) $ 0.82 $ 0.64
Weighted average shares used in per share computation:    
Basic (in shares) 2,470 2,506
Diluted (in shares) 2,490 2,537
v3.23.1
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Statement of Comprehensive Income [Abstract]    
Net income $ 2,043 $ 1,618
Available-for-sale securities:    
Net change in unrealized gain (loss) 17 (22)
Cash flow hedges:    
Net unrealized loss (13) (29)
Reclassification adjustments for net realized loss included in net income (11) (2)
Net change in unrealized loss (24) (31)
Other comprehensive loss, net of tax (7) (53)
Total comprehensive income $ 2,036 $ 1,565
v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Current assets:    
Cash and cash equivalents $ 5,079 $ 3,389
Marketable securities 10,241 9,907
Accounts receivable, net 4,080 3,827
Inventories 4,611 5,159
Prepaid expenses and other current assets 872 791
Total current assets 24,883 23,073
Property and equipment, net 3,740 3,807
Operating lease assets 1,094 1,038
Goodwill 4,430 4,372
Intangible assets, net 1,541 1,676
Deferred income tax assets 4,568 3,396
Other assets 4,204 3,820
Total assets 44,460 41,182
Current liabilities:    
Accounts payable 1,141 1,193
Accrued and other current liabilities 4,869 4,120
Short-term debt 1,250 1,250
Total current liabilities 7,260 6,563
Long-term debt 9,704 9,703
Long-term operating lease liabilities 939 902
Other long-term liabilities 2,037 1,913
Total liabilities 19,940 19,081
Commitments and contingencies - see Note 13
Shareholders’ equity:    
Preferred stock 0 0
Common stock 2 2
Additional paid-in capital 12,453 11,971
Accumulated other comprehensive loss (50) (43)
Retained earnings 12,115 10,171
Total shareholders' equity 24,520 22,101
Total liabilities and shareholders' equity $ 44,460 $ 41,182
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock Outstanding
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Retained Earnings
Beginning balance, common stock outstanding (in shares) at Jan. 30, 2022   2,506      
Beginning balances, shareholders' equity at Jan. 30, 2022 $ 26,612 $ 3 $ 10,385 $ (11) $ 16,235
Increase (Decrease) in Shareholders' Equity          
Net income 1,618       1,618
Other comprehensive loss (53)     (53)  
Issuance of common stock from stock plans (in shares)   9      
Issuance of common stock from stock plans  204   204    
Tax withholding related to vesting of restricted stock units (in shares)   (2)      
Tax withholding related to vesting of restricted stock units (538)   (538)    
Shares repurchased (in shares)   (9)      
Shares repurchased (1,996)   (1)   (1,995)
Cash dividends declared and paid (100)       (100)
Stock-based compensation 573   573    
Ending balance, common stock outstanding (in shares) at May. 01, 2022   2,504      
Ending balances, shareholders' equity at May. 01, 2022 26,320 $ 3 10,623 (64) 15,758
Beginning balance, common stock outstanding (in shares) at Jan. 29, 2023   2,466      
Beginning balances, shareholders' equity at Jan. 29, 2023 22,101 $ 2 11,971 (43) 10,171
Increase (Decrease) in Shareholders' Equity          
Net income 2,043       2,043
Other comprehensive loss (7)     (7)  
Issuance of common stock from stock plans (in shares)   9      
Issuance of common stock from stock plans  246   246    
Tax withholding related to vesting of restricted stock units (in shares)   (2)      
Tax withholding related to vesting of restricted stock units (507)   (507)    
Cash dividends declared and paid (99)       (99)
Stock-based compensation 743   743    
Ending balance, common stock outstanding (in shares) at Apr. 30, 2023   2,473      
Ending balances, shareholders' equity at Apr. 30, 2023 $ 24,520 $ 2 $ 12,453 $ (50) $ 12,115
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Statement of Stockholders' Equity [Abstract]    
Common stock, dividends per share, declared and paid (in dollars per share) $ 0.04 $ 0.04
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Cash flows from operating activities:    
Net income $ 2,043 $ 1,618
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 735 578
Depreciation and amortization 384 334
Losses on investments in non-affiliates 14 17
Deferred income taxes (1,135) (542)
Acquisition termination cost 0 1,353
Other (34) 23
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (252) (788)
Inventories 566 (560)
Prepaid expenses and other assets (215) (1,261)
Accounts payable 11 255
Accrued and other current liabilities 689 634
Other long-term liabilities 105 70
Net cash provided by operating activities 2,911 1,731
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 2,512 5,947
Proceeds from sales of marketable securities 0 1,029
Purchases of marketable securities (2,801) (3,932)
Purchases related to property and equipment and intangible assets (248) (361)
Acquisitions, net of cash acquired (83) (36)
Investments and other, net (221) (35)
Net cash provided by (used in) investing activities (841) 2,612
Cash flows from financing activities:    
Proceeds related to employee stock plans 246 204
Payments related to tax on restricted stock units (507) (532)
Dividends paid (99) (100)
Principal payments on property and equipment and intangible assets (20) (22)
Payments related to repurchases of common stock 0 (1,996)
Net cash used in financing activities (380) (2,446)
Change in cash and cash equivalents 1,690 1,897
Cash and cash equivalents at beginning of period 3,389 1,990
Cash and cash equivalents at end of period $ 5,079 $ 3,887
v3.23.1
Summary of Significant Accounting Policies
 3 Months Ended
Apr. 30, 2023
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 29, 2023 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 29, 2023, 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 29, 2023. 
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 29, 2023.
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2024 and 2023 are both 52-week years. The first quarters of fiscal years 2024 and 2023 were both 13-week quarters.
Reclassifications
Certain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation.
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, income taxes, goodwill, stock-based compensation, litigation, investigation and settlement costs, restructuring and other charges, property, plant, and equipment, and other contingencies. These estimates are based on historical facts and various other assumptions that we believe are reasonable.
In February 2023, we completed an assessment of the useful lives of our property, plant, and equipment. Based on advances in technology and usage rate, we increased the estimated useful life of a majority of our server, storage, and network equipment from three to a range of four to five years, and our assembly and test equipment from five to seven years. This change in accounting estimate became effective at the beginning of fiscal year 2024. Based on the carrying amounts of a majority of our server, storage, network, and assembly and test equipment, net, in use as of the end of fiscal year 2023, the effect of this change in estimate for the three months ended April 30, 2023, was a benefit of $2 million and $31 million for cost of revenue and operating expenses, respectively. This resulted in an increase in operating income of $33 million and net income of $28 million after tax, or $0.01 per both basic and diluted share.
v3.23.1
Business Combination
 3 Months Ended
Apr. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Business Combination Business CombinationTermination of the Arm Share Purchase AgreementIn February 2022, NVIDIA and SoftBank Group Corp, or SoftBank, announced the termination of the Share Purchase Agreement whereby NVIDIA would have acquired Arm Limited, or Arm, from SoftBank. The parties agreed to terminate due to significant regulatory challenges preventing the completion of the transaction. We recorded an acquisition termination cost of $1.35 billion in fiscal year 2023 reflecting the write-off of the prepayment provided at signing.
v3.23.1
Leases
 3 Months Ended
Apr. 30, 2023
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 2024 and 2035.
Future minimum lease payments under our non-cancelable operating leases as of April 30, 2023 are as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$178 
2025218 
2026196 
2027180 
2028159 
2029 and thereafter
357 
Total1,288 
Less imputed interest162 
Present value of net future minimum lease payments1,126 
Less short-term operating lease liabilities187 
Long-term operating lease liabilities$939 
In addition, we have operating leases, primarily for our data centers, that are expected to commence between the second quarter of fiscal year 2024 and fiscal year 2025 with lease terms of 2 to 8 years for $361 million.
Operating lease expenses were $59 million and $44 million for the first quarter of fiscal years 2024 and 2023, respectively. Short-term and variable lease expenses for the first quarter of fiscal years 2024 and 2023 were not significant.
Other information related to leases was as follows:
Three Months Ended
April 30, 2023May 1, 2022
 (In millions)
Supplemental cash flows information 
Operating cash flows used for operating leases$61 $45 
Operating lease assets obtained in exchange for lease obligations$106 $62 
As of April 30, 2023, our operating leases had a weighted average remaining lease term of 6.6 years and a weighted average discount rate of 3.33%. As of January 29, 2023, our operating leases had a weighted average remaining lease term of 6.8 years and a weighted average discount rate of 3.21%.
v3.23.1
Stock-Based Compensation
 3 Months Ended
Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]  
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 allocated to inventory, as follows:
 Three Months Ended
 April 30,
2023		May 1,
2022
(In millions)
Cost of revenue$27 $38 
Research and development524 384 
Sales, general and administrative184 156 
Total$735 $578 
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, January 29, 202345 $158.45 
Granted2 $226.08 
Vested restricted stock(6)$115.99 
Canceled and forfeited(1)$199.37 
Balances, April 30, 202340 $167.07 
As of April 30, 2023, there was $6.55 billion of aggregate unearned stock-based compensation expense. This amount is expected to be recognized over a weighted average period of 2.5 years for RSUs, PSUs, and market-based PSUs, and 1.1 years for ESPP.
v3.23.1
Net Income Per Share
 3 Months Ended
Apr. 30, 2023
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 Ended
April 30,May 1,
20232022
 (In millions, except per share data)
Numerator:  
Net income
$2,043 $1,618 
Denominator:
Basic weighted average shares
2,470 2,506 
Dilutive impact of outstanding equity awards20 31 
Diluted weighted average shares
2,490 2,537 
Net income per share:
Basic (1)
$0.83 $0.65 
Diluted (2)
$0.82 $0.64 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive4 3 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
v3.23.1
Income Taxes
 3 Months Ended
Apr. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense was $166 million and $187 million for the first quarter of fiscal years 2024 and 2023, respectively. The income tax expense as a percentage of income before income tax was 7.5% and 10.3% for the first quarter of fiscal years 2024 and 2023, respectively.
The decrease in the effective tax rate was primarily due to the tax impact of the Arm acquisition termination cost recorded in the first quarter of fiscal year 2023, which did not result in a tax benefit, and the increased impact of tax benefits from stock-based compensation, partially offset by decreased tax benefits impact from the foreign-derived intangible income deduction and the U.S. federal research tax credit.
Our effective tax rates for the first quarter of fiscal years 2024 and 2023 were lower than the U.S. federal statutory rate of 21% due to tax benefits from the foreign-derived intangible income deduction, stock-based compensation and the U.S. federal research tax credit.
For the first quarter of fiscal year 2024, there were no material changes to our tax years that remain subject to examination by major tax jurisdictions. We are currently under examination by the Internal Revenue Service for our fiscal years 2018 and 2019. Additionally, there have been no material changes to our unrecognized tax benefits and any related interest or penalties since the fiscal year ended January 29, 2023.
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 30, 2023, we do not believe that our estimates, as otherwise provided for, on such tax positions will significantly increase or decrease within the next 12 months.
v3.23.1
Cash Equivalents and Marketable Securities
 3 Months Ended
Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Marketable Securities Cash Equivalents and Marketable Securities 
Our cash equivalents and marketable securities related to debt securities are classified as “available-for-sale” debt securities.
The following is a summary of cash equivalents and marketable securities:
 April 30, 2023
Amortized
Cost		Unrealized
Gain		Unrealized
Loss		Estimated
Fair Value		Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$6,723 $4 $(11)$6,716 $2,535 $4,181 
Debt securities issued by the U.S. Treasury3,996 2 (31)3,967 421 3,546 
Debt securities issued by U.S. government agencies2,442 1 (1)2,442 199 2,243 
Money market funds1,502 — — 1,502 1,502 — 
Certificates of deposit395 — — 395 173 222 
Foreign government bonds49 — — 49 — 49 
Total$15,107 $7 $(43)$15,071 $4,830 $10,241 
 January 29, 2023
Amortized
Cost		Unrealized
Gain		Unrealized
Loss		Estimated
Fair Value		Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$4,809 $— $(12)$4,797 $1,087 $3,710 
Debt securities issued by the U.S. Treasury4,185 1 (44)4,142 — 4,142 
Debt securities issued by U.S. government agencies1,836 — (2)1,834 50 1,784 
Money market funds1,777 — — 1,777 1,777 — 
Certificates of deposit365 — — 365 134 231 
Foreign government bonds140 — — 140 100 40 
Total$13,112 $1 $(58)$13,055 $3,148 $9,907 
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:
April 30, 2023
 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$1,601 $(11)$1,106 $(20)$2,707 $(31)
Debt securities issued by U.S. government agencies1,259 (1)— — 1,259 (1)
Corporate debt securities945 (4)838 (7)1,783 (11)
Total$3,805 $(16)$1,944 $(27)$5,749 $(43)
January 29, 2023
 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$2,444 $(21)$1,172 $(23)$3,616 $(44)
Corporate debt securities1,188 (7)696 (5)1,884 (12)
Debt securities issued by U.S. government agencies1,307 (2)— — 1,307 (2)
Total$4,939 $(30)$1,868 $(28)$6,807 $(58)
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.
April 30, 2023January 29, 2023
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$12,654 $12,625 $9,738 $9,708 
Due in 1 - 5 years2,453 2,446 3,374 3,347 
Total$15,107 $15,071 $13,112 $13,055 
v3.23.1
Fair Value of Financial Assets and Liabilities
 3 Months Ended
Apr. 30, 2023
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Fair Value of Financial Assets and Liabilities
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.
Fair Value at
Pricing CategoryApril 30, 2023January 29, 2023
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$1,502 $1,777 
Corporate debt securitiesLevel 2$6,716 $4,797 
Debt securities issued by the U.S. TreasuryLevel 2$3,967 $4,142 
Debt securities issued by U.S. government agenciesLevel 2$2,442 $1,834 
Certificates of depositLevel 2$395 $365 
Foreign government bondsLevel 2$49 $140 
Other assets (Investment in non-affiliated entities):
Publicly-held equity securities (1)Level 1$9 $11 
Privately-held equity securitiesLevel 3$496 $288 
Liabilities (2)
0.309% Notes Due 2023
Level 2$1,243 $1,230 
0.584% Notes Due 2024
Level 2$1,197 $1,185 
3.20% Notes Due 2026
Level 2$976 $966 
1.55% Notes Due 2028
Level 2$1,112 $1,099 
2.85% Notes Due 2030
Level 2$1,375 $1,364 
2.00% Notes Due 2031
Level 2$1,062 $1,044 
3.50% Notes Due 2040
Level 2$862 $870 
3.50% Notes Due 2050
Level 2$1,633 $1,637 
3.70% Notes Due 2060
Level 2$403 $410 
(1)    Unrealized losses of $14 million and $24 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the first quarter of fiscal years 2024 and 2023, respectively.
(2)    These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
v3.23.1
Amortizable Intangible Assets and Goodwill
 3 Months Ended
Apr. 30, 2023
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:
 April 30, 2023January 29, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets$3,112 $(1,780)$1,332 $3,093 $(1,614)$1,479 
Patents and licensed technology460 (251)209 446 (249)197 
Total intangible assets$3,572 $(2,031)$1,541 $3,539 $(1,863)$1,676 

Amortization expense associated with intangible assets was $181 million and $155 million for the first quarter of fiscal years 2024 and 2023, respectively.
The following table outlines the estimated future amortization expense related to the net carrying amount of intangible assets as of April 30, 2023:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$433 
2025554 
2026259 
2027149 
202837 
2029 and thereafter109 
Total$1,541 
In the first quarter of fiscal year 2024, goodwill increased by $58 million from an acquisition, and was assigned to our Compute & Networking segment.
v3.23.1
Balance Sheet Components
 3 Months Ended
Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components 
Certain balance sheet components are as follows:
April 30,January 29,
 20232023
Inventories:(In millions)
Raw materials$1,809 $2,430 
Work in-process930 466 
Finished goods1,872 2,263 
Total inventories$4,611 $5,159 
April 30,January 29,
 20232023
Other Assets:(In millions)
Prepaid supply and capacity agreements$3,002 $2,989 
Investment in non-affiliated entities505 299 
Prepaid royalties381 387 
Prepaid cloud services171 23 
Other145 122 
Total other assets$4,204 $3,820 

April 30,January 29,
 20232023
Accrued and Other Current Liabilities:(In millions)
Taxes payable$1,544 $467 
Customer program accruals1,245 1,196 
Excess inventory purchase obligations786 954 
Deferred revenue (1)367 354 
Accrued payroll and related expenses320 530 
Operating leases187 176 
Licenses and royalties143 149 
Product warranty and return provisions112 108 
Other165 186 
Total accrued and other current liabilities$4,869 $4,120 
(1)    Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements, support for hardware and software, and cloud services.
April 30,January 29,
 20232023
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,300 $1,204 
Deferred income tax290 247 
Deferred revenue (2)230 218 
Licenses payable155 181 
Other62 63 
Total other long-term liabilities$2,037 $1,913 
(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 support for hardware and software.
Deferred Revenue
The following table shows the changes in deferred revenue during the first quarter of fiscal years 2024 and 2023:
April 30,May 1,
 20232022
(In millions)
Balance at beginning of period$572 $502 
Deferred revenue additions during the period287 212 
Revenue recognized during the period(262)(177)
Balance at end of period$597 $537 
Revenue allocated to remaining performance obligations, which includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods, was $639 million as of April 30, 2023. We expect to recognize approximately 46% 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.
v3.23.1
Derivative Financial Instruments
 3 Months Ended
Apr. 30, 2023
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 that are denominated in currencies other than the U.S. dollar. These forward contracts were not designated for hedge accounting treatment. Therefore, the change in fair value of these 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 forward contracts outstanding:
 April 30,
2023		January 29,
2023
(In millions)
Designated as cash flow hedges$1,142 $1,128 
Non-designated hedges$350 $366 
The unrealized gains and losses or fair value of our foreign currency forward contracts was not significant as of April 30, 2023 and January 29, 2023.
As of April 30, 2023, all designated foreign currency forward contracts mature within 18 months. The expected realized gains and losses deferred into accumulated other comprehensive income or loss related to foreign currency forward contracts within the next twelve months was not significant.
During the first quarter of fiscal years 2024 and 2023, the impact of derivative financial instruments designated for hedge accounting treatment on other comprehensive income or loss was not significant and all such instruments were determined to be highly effective.
v3.23.1
Debt
 3 Months Ended
Apr. 30, 2023
Debt Disclosure [Abstract]  
Debt Debt
Long-Term Debt
The carrying value of our outstanding notes, the calendar year of maturity, and the associated interest rates were as follows:
Carrying Value at
Expected
Remaining Term (years)		Effective
Interest Rate		April 30, 2023January 29, 2023
(In millions)
0.309% Notes Due 2023
0.10.41%$1,250 $1,250 
0.584% Notes Due 2024
1.10.66%1,250 1,250 
3.20% Notes Due 2026
3.43.31%1,000 1,000 
1.55% Notes Due 2028
5.11.64%1,250 1,250 
2.85% Notes Due 2030
6.92.93%1,500 1,500 
2.00% Notes Due 2031
8.12.09%1,250 1,250 
3.50% Notes Due 2040
16.93.54%1,000 1,000 
3.50% Notes Due 2050
26.93.54%2,000 2,000 
3.70% Notes Due 2060
36.93.73%500 500 
Unamortized debt discount and issuance costs(46)(47)
Net carrying amount10,954 10,953 
Less short-term portion(1,250)(1,250)
Total long-term portion$9,704 $9,703 
All our notes are unsecured senior obligations. All existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium as defined in the applicable form of note.
As of April 30, 2023, 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 30, 2023, we had not issued any commercial paper.
v3.23.1
Commitments and Contingencies
 3 Months Ended
Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Purchase Obligations
Our purchase obligations reflect our commitments 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 30, 2023, we had outstanding inventory purchase and long-term supply and capacity obligations totaling $7.27 billion. During the normal course of business, to manage manufacturing lead times and help ensure adequate supply, we enter into agreements with contract manufacturers that allow them to procure inventory based upon criteria as defined by us, and in certain instances, these agreements allow us the option to cancel, reschedule, and adjust our requirements based on our business needs prior to firm orders being placed, but these changes may result in the payment of costs incurred through the date of cancellation.
Other non-inventory purchase obligations of $3.26 billion include $2.43 billion of multi-year cloud service agreements.
Total future purchase commitments as of April 30, 2023 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$6,667 
20251,816 
2026753 
2027704 
2028332 
2029 and thereafter
255 
Total$10,527 
Accrual for Product Warranty Liabilities
The estimated amount of product warranty liabilities was $77 million and $82 million as of April 30, 2023 and January 29, 2023, respectively. The estimated product returns and estimated product warranty activity consisted of the following:
Three Months Ended
April 30, 2023May 1, 2022
(In millions)
Balance at beginning of period
$82 $46 
Additions
1316
Utilization
(18)(7)
Balance at end of period
$77 $55 
In connection with certain agreements that we have entered in the past, 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. Oral argument on the appeal was held on May 10, 2022.
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 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.
Accounting for Loss Contingencies
As of April 30, 2023, we have not recorded any accrual for contingent liabilities associated with the legal proceedings described above based on our belief that liabilities, while possible, are not probable. Further, except as specifically 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.
v3.23.1
Shareholders' Equity
 3 Months Ended
Apr. 30, 2023
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity 
Capital Return Program 
Since the inception of our share repurchase program through April 30, 2023, we have repurchased an aggregate of 1.10 billion shares for a total cost of $17.12 billion. As of April 30, 2023, we were authorized, subject to certain specifications, to repurchase an additional $7.23 billion of shares through December 2023. We did not repurchase any shares during the first quarter of fiscal year 2024.
During the first quarter of fiscal years 2024 and 2023, we paid $99 million and $100 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.
v3.23.1
Segment Information
 3 Months Ended
Apr. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
Our Chief Executive Officer, who is considered to be our chief operating decision maker, or CODM, 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 cryptocurrency mining processors, or CMP.
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 metaverse and 3D internet applications.
Operating results by segment include costs or expenses that are 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, acquisition-related and other costs, corporate infrastructure and support costs, acquisition termination cost, intellectual property related, or IP-related and legal settlement 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 expense directly attributable to each reportable segment is included in operating results for each segment. However, the CODM does not evaluate depreciation and amortization expense by operating segment and, therefore, it is not separately presented. There is no intersegment revenue. 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 April 30, 2023
    
Revenue$4,460 $2,732 $— $7,192 
Operating income (loss)$2,160 $1,046 $(1,066)$2,140 
Three Months Ended May 1, 2022
    
Revenue$3,672 $4,616 $— $8,288 
Operating income (loss)$1,606 $2,476 $(2,214)$1,868 
Three Months Ended
April 30,
2023		May 1,
2022
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(735)$(578)
Acquisition-related and other costs(173)(149)
Unallocated cost of revenue and operating expenses (154)(127)
IP-related and legal settlement costs(8)(7)
Acquisition termination cost— (1,353)
Other4 — 
Total$(1,066)$(2,214)
Revenue by geographic region is allocated to individual countries based on the billing location of the customer. End customer location may be different than our customer’s billing location. The following table summarizes information pertaining to our revenue from customers based on the invoicing address by geographic regions:
 Three Months Ended
April 30,May 1,
 20232022
 (In millions)
Revenue:  
United States$2,385 $1,932 
Taiwan1,796 2,777 
China (including Hong Kong)1,590 2,081 
Singapore762454
Other countries659 1,044 
Total revenue$7,192 $8,288 
No customer represented 10% or more of total revenue for the first quarter of fiscal years 2024 and 2023.
Two customers accounted for 12% and 10% of our accounts receivable balance as of April 30, 2023. Two customers accounted for 14% and 11% of our accounts receivable balance as of January 29, 2023.
The following table summarizes information pertaining to our revenue by each of the specialized markets we serve:
 Three Months Ended
April 30,May 1,
 20232022
 (In millions)
Revenue:  
Data Center$4,284 $3,750 
Gaming2,240 3,620 
Professional Visualization295 622 
Automotive296 138 
OEM and Other77 158 
Total revenue$7,192 $8,288 
v3.23.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Apr. 30, 2023
Accounting Policies [Abstract]  
Basis of Presentation Basis of PresentationThe 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 29, 2023 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 29, 2023, 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 29, 2023.
Fiscal Year
Fiscal Year
We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2024 and 2023 are both 52-week years. The first quarters of fiscal years 2024 and 2023 were both 13-week quarters.
Reclassifications ReclassificationsCertain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation.
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 revenue recognition, cash equivalents and marketable securities, accounts receivable, inventories, income taxes, goodwill, stock-based compensation, litigation, investigation and settlement costs, restructuring and other charges, property, plant, and equipment, and other contingencies. These estimates are based on historical facts and various other assumptions that we believe are reasonable.
In February 2023, we completed an assessment of the useful lives of our property, plant, and equipment. Based on advances in technology and usage rate, we increased the estimated useful life of a majority of our server, storage, and network equipment from three to a range of four to five years, and our assembly and test equipment from five to seven years. This change in accounting estimate became effective at the beginning of fiscal year 2024.
v3.23.1
Leases (Tables)
 3 Months Ended
Apr. 30, 2023
Leases [Abstract]  
Schedule of future minimum lease payments
Future minimum lease payments under our non-cancelable operating leases as of April 30, 2023 are as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$178 
2025218 
2026196 
2027180 
2028159 
2029 and thereafter
357 
Total1,288 
Less imputed interest162 
Present value of net future minimum lease payments1,126 
Less short-term operating lease liabilities187 
Long-term operating lease liabilities$939 
Schedule of other information related to leases
Other information related to leases was as follows:
Three Months Ended
April 30, 2023May 1, 2022
 (In millions)
Supplemental cash flows information 
Operating cash flows used for operating leases$61 $45 
Operating lease assets obtained in exchange for lease obligations$106 $62 
v3.23.1
Stock-Based Compensation (Tables)
 3 Months Ended
Apr. 30, 2023
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 allocated to inventory, as follows:
 Three Months Ended
 April 30,
2023		May 1,
2022
(In millions)
Cost of revenue$27 $38 
Research and development524 384 
Sales, general and administrative184 156 
Total$735 $578 
Schedule of equity award
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, January 29, 202345 $158.45 
Granted2 $226.08 
Vested restricted stock(6)$115.99 
Canceled and forfeited(1)$199.37 
Balances, April 30, 202340 $167.07 
v3.23.1
Net Income Per Share (Tables)
 3 Months Ended
Apr. 30, 2023
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 Ended
April 30,May 1,
20232022
 (In millions, except per share data)
Numerator:  
Net income
$2,043 $1,618 
Denominator:
Basic weighted average shares
2,470 2,506 
Dilutive impact of outstanding equity awards20 31 
Diluted weighted average shares
2,490 2,537 
Net income per share:
Basic (1)
$0.83 $0.65 
Diluted (2)
$0.82 $0.64 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive4 3 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
v3.23.1
Cash Equivalents and Marketable Securities (Tables)
 3 Months Ended
Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of cash equivalents and marketable securities
The following is a summary of cash equivalents and marketable securities:
 April 30, 2023
Amortized
Cost		Unrealized
Gain		Unrealized
Loss		Estimated
Fair Value		Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$6,723 $4 $(11)$6,716 $2,535 $4,181 
Debt securities issued by the U.S. Treasury3,996 2 (31)3,967 421 3,546 
Debt securities issued by U.S. government agencies2,442 1 (1)2,442 199 2,243 
Money market funds1,502 — — 1,502 1,502 — 
Certificates of deposit395 — — 395 173 222 
Foreign government bonds49 — — 49 — 49 
Total$15,107 $7 $(43)$15,071 $4,830 $10,241 
 January 29, 2023
Amortized
Cost		Unrealized
Gain		Unrealized
Loss		Estimated
Fair Value		Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$4,809 $— $(12)$4,797 $1,087 $3,710 
Debt securities issued by the U.S. Treasury4,185 1 (44)4,142 — 4,142 
Debt securities issued by U.S. government agencies1,836 — (2)1,834 50 1,784 
Money market funds1,777 — — 1,777 1,777 — 
Certificates of deposit365 — — 365 134 231 
Foreign government bonds140 — — 140 100 40 
Total$13,112 $1 $(58)$13,055 $3,148 $9,907 
The amortized cost and estimated fair value of cash equivalents and marketable securities are shown below by contractual maturity.
April 30, 2023January 29, 2023
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$12,654 $12,625 $9,738 $9,708 
Due in 1 - 5 years2,453 2,446 3,374 3,347 
Total$15,107 $15,071 $13,112 $13,055 
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:
April 30, 2023
 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$1,601 $(11)$1,106 $(20)$2,707 $(31)
Debt securities issued by U.S. government agencies1,259 (1)— — 1,259 (1)
Corporate debt securities945 (4)838 (7)1,783 (11)
Total$3,805 $(16)$1,944 $(27)$5,749 $(43)
January 29, 2023
 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$2,444 $(21)$1,172 $(23)$3,616 $(44)
Corporate debt securities1,188 (7)696 (5)1,884 (12)
Debt securities issued by U.S. government agencies1,307 (2)— — 1,307 (2)
Total$4,939 $(30)$1,868 $(28)$6,807 $(58)
v3.23.1
Fair Value of Financial Assets and Liabilities (Tables)
 3 Months Ended
Apr. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements, recurring and nonrecurring
Fair Value at
Pricing CategoryApril 30, 2023January 29, 2023
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$1,502 $1,777 
Corporate debt securitiesLevel 2$6,716 $4,797 
Debt securities issued by the U.S. TreasuryLevel 2$3,967 $4,142 
Debt securities issued by U.S. government agenciesLevel 2$2,442 $1,834 
Certificates of depositLevel 2$395 $365 
Foreign government bondsLevel 2$49 $140 
Other assets (Investment in non-affiliated entities):
Publicly-held equity securities (1)Level 1$9 $11 
Privately-held equity securitiesLevel 3$496 $288 
Liabilities (2)
0.309% Notes Due 2023
Level 2$1,243 $1,230 
0.584% Notes Due 2024
Level 2$1,197 $1,185 
3.20% Notes Due 2026
Level 2$976 $966 
1.55% Notes Due 2028
Level 2$1,112 $1,099 
2.85% Notes Due 2030
Level 2$1,375 $1,364 
2.00% Notes Due 2031
Level 2$1,062 $1,044 
3.50% Notes Due 2040
Level 2$862 $870 
3.50% Notes Due 2050
Level 2$1,633 $1,637 
3.70% Notes Due 2060
Level 2$403 $410 
(1)    Unrealized losses of $14 million and $24 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the first quarter of fiscal years 2024 and 2023, respectively.
(2)    These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
v3.23.1
Amortizable Intangible Assets and Goodwill (Tables)
 3 Months Ended
Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of components of our amortizable intangible assets
The components of our amortizable intangible assets are as follows:
 April 30, 2023January 29, 2023
 Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets$3,112 $(1,780)$1,332 $3,093 $(1,614)$1,479 
Patents and licensed technology460 (251)209 446 (249)197 
Total intangible assets$3,572 $(2,031)$1,541 $3,539 $(1,863)$1,676 
Amortization expense associated with intangible assets was $181 million and $155 million for the first quarter of fiscal years 2024 and 2023, respectively.
The following table outlines the estimated future amortization expense related to the net carrying amount of intangible assets as of April 30, 2023:
Future Amortization Expense
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$433 
2025554 
2026259 
2027149 
202837 
2029 and thereafter109 
Total$1,541 
v3.23.1
Balance Sheet Components (Tables)
 3 Months Ended
Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of inventory
Certain balance sheet components are as follows:
April 30,January 29,
 20232023
Inventories:(In millions)
Raw materials$1,809 $2,430 
Work in-process930 466 
Finished goods1,872 2,263 
Total inventories$4,611 $5,159 
Schedule of other assets
April 30,January 29,
 20232023
Other Assets:(In millions)
Prepaid supply and capacity agreements$3,002 $2,989 
Investment in non-affiliated entities505 299 
Prepaid royalties381 387 
Prepaid cloud services171 23 
Other145 122 
Total other assets$4,204 $3,820 
Schedule of accrued and other current liabilities
April 30,January 29,
 20232023
Accrued and Other Current Liabilities:(In millions)
Taxes payable$1,544 $467 
Customer program accruals1,245 1,196 
Excess inventory purchase obligations786 954 
Deferred revenue (1)367 354 
Accrued payroll and related expenses320 530 
Operating leases187 176 
Licenses and royalties143 149 
Product warranty and return provisions112 108 
Other165 186 
Total accrued and other current liabilities$4,869 $4,120 
(1)    Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements, support for hardware and software, and cloud services.
Schedule of other long-term liabilities
April 30,January 29,
 20232023
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,300 $1,204 
Deferred income tax290 247 
Deferred revenue (2)230 218 
Licenses payable155 181 
Other62 63 
Total other long-term liabilities$2,037 $1,913 
(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 support for hardware and software.
Schedule of changes in deferred revenue The following table shows the changes in deferred revenue during the first quarter of fiscal years 2024 and 2023:
April 30,May 1,
 20232022
(In millions)
Balance at beginning of period$572 $502 
Deferred revenue additions during the period287 212 
Revenue recognized during the period(262)(177)
Balance at end of period$597 $537 
v3.23.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Apr. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional value of our foreign currency forward contracts outstanding
The table below presents the notional value of our foreign currency forward contracts outstanding:
 April 30,
2023		January 29,
2023
(In millions)
Designated as cash flow hedges$1,142 $1,128 
Non-designated hedges$350 $366 
v3.23.1
Debt (Tables)
 3 Months Ended
Apr. 30, 2023
Debt Disclosure [Abstract]  
Schedule of long-term debt
The carrying value of our outstanding notes, the calendar year of maturity, and the associated interest rates were as follows:
Carrying Value at
Expected
Remaining Term (years)		Effective
Interest Rate		April 30, 2023January 29, 2023
(In millions)
0.309% Notes Due 2023
0.10.41%$1,250 $1,250 
0.584% Notes Due 2024
1.10.66%1,250 1,250 
3.20% Notes Due 2026
3.43.31%1,000 1,000 
1.55% Notes Due 2028
5.11.64%1,250 1,250 
2.85% Notes Due 2030
6.92.93%1,500 1,500 
2.00% Notes Due 2031
8.12.09%1,250 1,250 
3.50% Notes Due 2040
16.93.54%1,000 1,000 
3.50% Notes Due 2050
26.93.54%2,000 2,000 
3.70% Notes Due 2060
36.93.73%500 500 
Unamortized debt discount and issuance costs(46)(47)
Net carrying amount10,954 10,953 
Less short-term portion(1,250)(1,250)
Total long-term portion$9,704 $9,703 
v3.23.1
Commitments and Contingencies (Tables)
 3 Months Ended
Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Unconditional Purchase Commitments
Total future purchase commitments as of April 30, 2023 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2024 (excluding first quarter)
$6,667 
20251,816 
2026753 
2027704 
2028332 
2029 and thereafter
255 
Total$10,527 
Schedule of Product Warranty Activity The estimated product returns and estimated product warranty activity consisted of the following:
Three Months Ended
April 30, 2023May 1, 2022
(In millions)
Balance at beginning of period
$82 $46 
Additions
1316
Utilization
(18)(7)
Balance at end of period
$77 $55 
v3.23.1
Segment Information (Tables)
 3 Months Ended
Apr. 30, 2023
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 April 30, 2023
    
Revenue$4,460 $2,732 $— $7,192 
Operating income (loss)$2,160 $1,046 $(1,066)$2,140 
Three Months Ended May 1, 2022
    
Revenue$3,672 $4,616 $— $8,288 
Operating income (loss)$1,606 $2,476 $(2,214)$1,868 
Three Months Ended
April 30,
2023		May 1,
2022
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(735)$(578)
Acquisition-related and other costs(173)(149)
Unallocated cost of revenue and operating expenses (154)(127)
IP-related and legal settlement costs(8)(7)
Acquisition termination cost— (1,353)
Other4 — 
Total$(1,066)$(2,214)
Schedule of revenue by geographic regions The following table summarizes information pertaining to our revenue from customers based on the invoicing address by geographic regions:
 Three Months Ended
April 30,May 1,
 20232022
 (In millions)
Revenue:  
United States$2,385 $1,932 
Taiwan1,796 2,777 
China (including Hong Kong)1,590 2,081 
Singapore762454
Other countries659 1,044 
Total revenue$7,192 $8,288 
Schedule of revenue by specialized markets
The following table summarizes information pertaining to our revenue by each of the specialized markets we serve:
 Three Months Ended
April 30,May 1,
 20232022
 (In millions)
Revenue:  
Data Center$4,284 $3,750 
Gaming2,240 3,620 
Professional Visualization295 622 
Automotive296 138 
OEM and Other77 158 
Total revenue$7,192 $8,288 
v3.23.1
Summary of Significant Accounting Policies (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Feb. 28, 2023
Jan. 31, 2023
Property, Plant and Equipment [Line Items]        
Cost of revenue $ (2,544) $ (2,857)    
Operating expenses (2,508) (3,563)    
Operating income (loss) 2,140 1,868    
Net income $ 2,043 $ 1,618    
Basic (in dollars per share) $ 0.83 $ 0.65    
Diluted (in dollars per share) $ 0.82 $ 0.64    
Service Life        
Property, Plant and Equipment [Line Items]        
Cost of revenue $ 2      
Operating expenses 31      
Operating income (loss) 33      
Net income $ 28      
Basic (in dollars per share) $ 0.01      
Diluted (in dollars per share) $ 0.01      
Storage and Network Equipment        
Property, Plant and Equipment [Line Items]        
Useful life       3 years
Storage and Network Equipment | Minimum        
Property, Plant and Equipment [Line Items]        
Useful life     4 years  
Storage and Network Equipment | Maximum        
Property, Plant and Equipment [Line Items]        
Useful life     5 years  
Assembling and Testing Equipment        
Property, Plant and Equipment [Line Items]        
Useful life     7 years 5 years
v3.23.1
Business Combination (Details)
$ in Millions
 12 Months Ended
Jan. 29, 2023
USD ($)
Arm Limited  
Business Acquisition [Line Items]  
Acquisition termination cost $ 1,350
v3.23.1
Leases - Schedule of Future Minimum Payments (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Leases [Abstract]    
2024 (excluding first quarter) $ 178  
2025 218  
2026 196  
2027 180  
2028 159  
2029 and thereafter 357  
Total 1,288  
Less imputed interest 162  
Present value of net future minimum lease payments 1,126  
Less short-term operating lease liabilities 187 $ 176
Long-term operating lease liabilities $ 939 $ 902
v3.23.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Jan. 29, 2023
Lessee, Lease, Description [Line Items]      
Operating lease, not yet commenced, amount $ 361    
Operating lease expense $ 59 $ 44  
Weighted average remaining lease term - operating leases 6 years 7 months 6 days   6 years 9 months 18 days
Weighted average discount rate - operating leases 3.33%   3.21%
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 8 years    
v3.23.1
Leases - Schedule of Other Lease Information (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Supplemental Cash Flow Information [Abstract]    
Operating cash flows used for operating leases $ 61 $ 45
Operating lease assets obtained in exchange for lease obligations $ 106 $ 62
v3.23.1
Stock-Based Compensation - Allocation of Expense (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Share-based Compensation    
Stock-based compensation expense $ 735 $ 578
Cost of revenue    
Share-based Compensation    
Stock-based compensation expense 27 38
Research and development    
Share-based Compensation    
Stock-based compensation expense 524 384
Sales, general and administrative    
Share-based Compensation    
Stock-based compensation expense $ 184 $ 156
v3.23.1
Stock-Based Compensation - Summary of Equity Award Transactions (Details) - RSUs, PSUs, and Market-based PSUs
shares in Millions
 3 Months Ended
Apr. 30, 2023
$ / shares
shares
Number of Shares  
RSUs, PSUs and Market-based PSUs, outstanding, beginning balance (in shares) | shares 45
RSUs, PSUs and Market-based PSUs, granted (in shares) | shares 2
RSUs, PSUs and Market-based PSUs, Vested restricted stock (in shares) | shares (6)
RSUs, PSUs and Market-based PSUs, canceled and forfeited (in shares) | shares (1)
RSUs, PSUs and Market-based PSUs, outstanding, ending balance (in shares) | shares 40
Weighted Average Grant-Date Fair Value Per Share  
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares $ 158.45
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, granted (in dollars per share) | $ / shares 226.08
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, Vested restricted stock (in dollars per share) | $ / shares 115.99
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, canceled and forfeited (in dollars per share) | $ / shares 199.37
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares $ 167.07
v3.23.1
Stock-Based Compensation - Narrative (Details)
$ in Millions
 3 Months Ended
Apr. 30, 2023
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unearned stock-based compensation expense $ 6,550
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 1 year 1 month 6 days
v3.23.1
Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Numerator:    
Net income $ 2,043 $ 1,618
Denominator:    
Basic weighted average shares (in shares) 2,470 2,506
Dilutive impact of outstanding equity awards (in shares) 20 31
Diluted weighted average shares (in shares) 2,490 2,537
Net income per share:    
Basic (in dollars per share) $ 0.83 $ 0.65
Diluted (in dollars per share) $ 0.82 $ 0.64
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive (in shares) 4 3
v3.23.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Income Tax Disclosure [Abstract]    
Income tax expense $ 166 $ 187
Tax expense as a percentage of income before income tax 7.50% 10.30%
v3.23.1
Cash Equivalents and Marketable Securities - Summary of Securities (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Summary of cash equivalents and marketable securities:    
Amortized Cost $ 15,107 $ 13,112
Unrealized Gain 7 1
Unrealized Loss (43) (58)
Estimated Fair Value 15,071 13,055
Cash Equivalents 4,830 3,148
Marketable Securities 10,241 9,907
Corporate debt securities    
Summary of cash equivalents and marketable securities:    
Amortized Cost 6,723 4,809
Unrealized Gain 4 0
Unrealized Loss (11) (12)
Estimated Fair Value 6,716 4,797
Cash Equivalents 2,535 1,087
Marketable Securities 4,181 3,710
Debt securities issued by the U.S. Treasury    
Summary of cash equivalents and marketable securities:    
Amortized Cost 3,996 4,185
Unrealized Gain 2 1
Unrealized Loss (31) (44)
Estimated Fair Value 3,967 4,142
Cash Equivalents 421 0
Marketable Securities 3,546 4,142
Debt securities issued by U.S. government agencies    
Summary of cash equivalents and marketable securities:    
Amortized Cost 2,442 1,836
Unrealized Gain 1 0
Unrealized Loss (1) (2)
Estimated Fair Value 2,442 1,834
Cash Equivalents 199 50
Marketable Securities 2,243 1,784
Money market funds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 1,502 1,777
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 1,502 1,777
Cash Equivalents 1,502 1,777
Marketable Securities 0 0
Certificates of deposit    
Summary of cash equivalents and marketable securities:    
Amortized Cost 395 365
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 395 365
Cash Equivalents 173 134
Marketable Securities 222 231
Foreign government bonds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 49 140
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 49 140
Cash Equivalents 0 100
Marketable Securities $ 49 $ 40
v3.23.1
Cash Equivalents and Marketable Securities - Unrealized Losses Aggregated by Investment Category (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Estimated Fair Value    
Less than 12 Months $ 3,805 $ 4,939
12 Months or Greater 1,944 1,868
Total 5,749 6,807
Gross Unrealized Loss    
Less than 12 Months (16) (30)
12 Months or Greater (27) (28)
Total (43) (58)
Debt securities issued by the U.S. Treasury    
Estimated Fair Value    
Less than 12 Months 1,601 2,444
12 Months or Greater 1,106 1,172
Total 2,707 3,616
Gross Unrealized Loss    
Less than 12 Months (11) (21)
12 Months or Greater (20) (23)
Total (31) (44)
Debt securities issued by U.S. government agencies    
Estimated Fair Value    
Less than 12 Months 1,259 1,307
12 Months or Greater 0 0
Total 1,259 1,307
Gross Unrealized Loss    
Less than 12 Months (1) (2)
12 Months or Greater 0 0
Total (1) (2)
Corporate debt securities    
Estimated Fair Value    
Less than 12 Months 945 1,188
12 Months or Greater 838 696
Total 1,783 1,884
Gross Unrealized Loss    
Less than 12 Months (4) (7)
12 Months or Greater (7) (5)
Total $ (11) $ (12)
v3.23.1
Cash Equivalents and Marketable Securities - Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Amortized Cost    
Less than one year $ 12,654 $ 9,738
Due in 1 - 5 years 2,453 3,374
Amortized Cost 15,107 13,112
Estimated Fair Value    
Less than one year 12,625 9,708
Due in 1 - 5 years 2,446 3,347
Estimated Fair Value $ 15,071 $ 13,055
v3.23.1
Fair Value of Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Jan. 29, 2023
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities $ 15,071   $ 13,055
Other assets (Investment in non-affiliated entities):      
Investment in non-affiliated entities 505   299
Liabilities      
Unrealized loss recognized during the period $ 14 $ 24  
0.309% Notes Due 2023      
Liabilities      
Stated interest rate 0.309%    
0.584% Notes Due 2024      
Liabilities      
Stated interest rate 0.584%    
3.20% Notes Due 2026      
Liabilities      
Stated interest rate 3.20%    
1.55% Notes Due 2028      
Liabilities      
Stated interest rate 1.55%    
2.85% Notes Due 2030      
Liabilities      
Stated interest rate 2.85%    
2.00% Notes Due 2031      
Liabilities      
Stated interest rate 2.00%    
3.50% Notes Due 2040      
Liabilities      
Stated interest rate 3.50%    
3.50% Notes Due 2050      
Liabilities      
Stated interest rate 3.50%    
3.70% Notes Due 2060      
Liabilities      
Stated interest rate 3.70%    
Money market funds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities $ 1,502   1,777
Corporate debt securities      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 6,716   4,797
Debt securities issued by the U.S. Treasury      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 3,967   4,142
Debt securities issued by U.S. government agencies      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 2,442   1,834
Certificates of deposit      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 395   365
Foreign government bonds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 49   140
Level 1 | Money market funds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 1,502   1,777
Level 1 | Publicly-held equity securities      
Other assets (Investment in non-affiliated entities):      
Investment in non-affiliated entities 9   11
Level 2 | 0.309% Notes Due 2023      
Liabilities      
Notes 1,243   1,230
Level 2 | 0.584% Notes Due 2024      
Liabilities      
Notes 1,197   1,185
Level 2 | 3.20% Notes Due 2026      
Liabilities      
Notes 976   966
Level 2 | 1.55% Notes Due 2028      
Liabilities      
Notes 1,112   1,099
Level 2 | 2.85% Notes Due 2030      
Liabilities      
Notes 1,375   1,364
Level 2 | 2.00% Notes Due 2031      
Liabilities      
Notes 1,062   1,044
Level 2 | 3.50% Notes Due 2040      
Liabilities      
Notes 862   870
Level 2 | 3.50% Notes Due 2050      
Liabilities      
Notes 1,633   1,637
Level 2 | 3.70% Notes Due 2060      
Liabilities      
Notes 403   410
Level 2 | Corporate debt securities      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 6,716   4,797
Level 2 | Debt securities issued by the U.S. Treasury      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 3,967   4,142
Level 2 | Debt securities issued by U.S. government agencies      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 2,442   1,834
Level 2 | Certificates of deposit      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 395   365
Level 2 | Foreign government bonds      
Cash equivalents and marketable securities:      
Cash equivalents and marketable securities 49   140
Level 3 | Privately-held equity securities      
Other assets (Investment in non-affiliated entities):      
Investment in non-affiliated entities $ 496   $ 288
v3.23.1
Amortizable Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Jan. 29, 2023
Amortizable intangible assets components      
Gross Carrying Amount $ 3,572   $ 3,539
Accumulated Amortization (2,031)   (1,863)
Net Carrying Amount 1,541   1,676
Amortization expense 181 $ 155  
Increase in carrying amount of goodwill 58    
Future amortization expense associated with intangible assets      
2024 (excluding first quarter) 433    
2025 554    
2026 259    
2027 149    
2028 37    
2029 and thereafter 109    
Net Carrying Amount 1,541   1,676
Acquisition-related intangible assets      
Amortizable intangible assets components      
Gross Carrying Amount 3,112   3,093
Accumulated Amortization (1,780)   (1,614)
Net Carrying Amount 1,332   1,479
Future amortization expense associated with intangible assets      
Net Carrying Amount 1,332   1,479
Patents and licensed technology      
Amortizable intangible assets components      
Gross Carrying Amount 460   446
Accumulated Amortization (251)   (249)
Net Carrying Amount 209   197
Future amortization expense associated with intangible assets      
Net Carrying Amount $ 209   $ 197
v3.23.1
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Inventories:    
Raw materials $ 1,809 $ 2,430
Work in-process 930 466
Finished goods 1,872 2,263
Total inventories $ 4,611 $ 5,159
v3.23.1
Balance Sheet Components - Other Assets (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Other Assets:    
Prepaid supply and capacity agreements $ 3,002 $ 2,989
Investment in non-affiliated entities 505 299
Prepaid royalties 381 387
Prepaid cloud services 171 23
Other 145 122
Total other assets $ 4,204 $ 3,820
v3.23.1
Balance Sheet Components - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Accrued and Other Current Liabilities:    
Taxes payable $ 1,544 $ 467
Customer program accruals 1,245 1,196
Excess inventory purchase obligations 786 954
Deferred revenue 367 354
Accrued payroll and related expenses 320 530
Operating leases 187 176
Licenses and royalties 143 149
Product warranty and return provisions 112 108
Other 165 186
Total accrued and other current liabilities $ 4,869 $ 4,120
v3.23.1
Balance Sheet Components - Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Other Long-Term Liabilities:    
Income taxes payable $ 1,300 $ 1,204
Deferred income tax 290 247
Deferred revenue 230 218
Licenses payable 155 181
Other 62 63
Total other long-term liabilities $ 2,037 $ 1,913
v3.23.1
Balance Sheet Components - Change in Deferred Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Change in Deferred Revenue    
Balance at beginning of period $ 572 $ 502
Deferred revenue additions during the period 287 212
Revenue recognized during the period (262) (177)
Balance at end of period $ 597 $ 537
v3.23.1
Balance Sheet Components - Revenue Remaining Performance Obligation (Details)
$ in Millions
Apr. 30, 2023
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 639
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-05-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation (as a percent) 46.00%
Expected performance period 12 months
v3.23.1
Derivative Financial Instruments - Notional Values (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Designated as cash flow hedges $ 1,142 $ 1,128
Non-designated hedges $ 350 $ 366
v3.23.1
Derivative Financial Instruments - Narrative (Details)
 3 Months Ended
Apr. 30, 2023
Foreign currency forward contracts  
Derivative [Line Items]  
Maximum maturity period 18 months
v3.23.1
Debt - Schedule of Instruments (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
Jan. 29, 2023
Debt Instrument [Line Items]    
Unamortized debt discount and issuance costs $ (46) $ (47)
Net carrying amount 10,954 10,953
Less short-term portion (1,250) (1,250)
Total long-term portion $ 9,704 9,703
0.309% Notes Due 2023    
Debt Instrument [Line Items]    
Interest rate (as percent) 0.309%  
Expected Remaining Term (years) 1 month 6 days  
Effective Interest Rate (as percent) 0.41%  
Gross carrying amount $ 1,250 1,250
0.584% Notes Due 2024    
Debt Instrument [Line Items]    
Interest rate (as percent) 0.584%  
Expected Remaining Term (years) 1 year 1 month 6 days  
Effective Interest Rate (as percent) 0.66%  
Gross carrying amount $ 1,250 1,250
3.20% Notes Due 2026    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.20%  
Expected Remaining Term (years) 3 years 4 months 24 days  
Effective Interest Rate (as percent) 3.31%  
Gross carrying amount $ 1,000 1,000
1.55% Notes Due 2028    
Debt Instrument [Line Items]    
Interest rate (as percent) 1.55%  
Expected Remaining Term (years) 5 years 1 month 6 days  
Effective Interest Rate (as percent) 1.64%  
Gross carrying amount $ 1,250 1,250
2.85% Notes Due 2030    
Debt Instrument [Line Items]    
Interest rate (as percent) 2.85%  
Expected Remaining Term (years) 6 years 10 months 24 days  
Effective Interest Rate (as percent) 2.93%  
Gross carrying amount $ 1,500 1,500
2.00% Notes Due 2031    
Debt Instrument [Line Items]    
Interest rate (as percent) 2.00%  
Expected Remaining Term (years) 8 years 1 month 6 days  
Effective Interest Rate (as percent) 2.09%  
Gross carrying amount $ 1,250 1,250
3.50% Notes Due 2040    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.50%  
Expected Remaining Term (years) 16 years 10 months 24 days  
Effective Interest Rate (as percent) 3.54%  
Gross carrying amount $ 1,000 1,000
3.50% Notes Due 2050    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.50%  
Expected Remaining Term (years) 26 years 10 months 24 days  
Effective Interest Rate (as percent) 3.54%  
Gross carrying amount $ 2,000 2,000
3.70% Notes Due 2060    
Debt Instrument [Line Items]    
Interest rate (as percent) 3.70%  
Expected Remaining Term (years) 36 years 10 months 24 days  
Effective Interest Rate (as percent) 3.73%  
Gross carrying amount $ 500 $ 500
v3.23.1
Debt - Narrative (Details)
Apr. 30, 2023
USD ($)
Debt Instrument [Line Items]  
Outstanding commercial paper $ 0
Commercial Paper  
Debt Instrument [Line Items]  
Current borrowing capacity $ 575,000,000
v3.23.1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 29, 2023
May 01, 2022
Jan. 30, 2022
Loss Contingencies [Line Items]        
Inventory purchase and long-term supply agreements $ 7,270      
Other purchase obligations 3,260      
Warranty accrual 77 $ 82 $ 55 $ 46
Cloud service agreement        
Loss Contingencies [Line Items]        
Other purchase obligations $ 2,430      
v3.23.1
Commitments and Contingencies - Summary of Future Commitments Due by Year (Details)
$ in Millions
Apr. 30, 2023
USD ($)
Fiscal Year:  
2024 (excluding first quarter) $ 6,667
2025 1,816
2026 753
2027 704
2028 332
2029 and thereafter 255
Total $ 10,527
v3.23.1
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]    
Beginning Balance $ 82 $ 46
Additions 13 16
Utilization (18) (7)
Ending Balance $ 77 $ 55
v3.23.1
Shareholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Equity [Abstract]    
Aggregated number of shares repurchased under stock repurchase program (in shares) 1,100  
Aggregated cost of shares repurchased $ 17,120  
Remaining authorized repurchase amount 7,230  
Dividends paid $ 99 $ 100
v3.23.1
Segment Information - Schedule of Segments (Details)
$ in Millions
 3 Months Ended
Apr. 30, 2023
USD ($)
segment
May 01, 2022
USD ($)
Segment Reporting [Abstract]    
Number of reportable segments | segment 2  
Segment Reporting Information [Line Items]    
Revenue $ 7,192 $ 8,288
Operating income (loss) 2,140 1,868
Operating Segments | Compute & Networking    
Segment Reporting Information [Line Items]    
Revenue 4,460 3,672
Operating income (loss) 2,160 1,606
Operating Segments | Graphics    
Segment Reporting Information [Line Items]    
Revenue 2,732 4,616
Operating income (loss) 1,046 2,476
All Other    
Segment Reporting Information [Line Items]    
Revenue 0 0
Operating income (loss) $ (1,066) $ (2,214)
v3.23.1
Segment Information - Reconciling Items (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Segment Reporting Information [Line Items]    
Income from operations $ 2,140 $ 1,868
All Other    
Segment Reporting Information [Line Items]    
Stock-based compensation expense (735) (578)
Acquisition-related and other costs (173) (149)
Unallocated cost of revenue and operating expenses (154) (127)
IP-related and legal settlement costs (8) (7)
Acquisition termination cost 0 (1,353)
Other 4 0
Income from operations $ (1,066) $ (2,214)
v3.23.1
Segment Information - Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Revenues    
Revenue $ 7,192 $ 8,288
United States    
Revenues    
Revenue 2,385 1,932
Taiwan    
Revenues    
Revenue 1,796 2,777
China (including Hong Kong)    
Revenues    
Revenue 1,590 2,081
Singapore    
Revenues    
Revenue 762 454
Other countries    
Revenues    
Revenue $ 659 $ 1,044
v3.23.1
Segment Information - Schedule of Revenue by Market (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
May 01, 2022
Revenue from External Customer [Line Items]    
Revenue $ 7,192 $ 8,288
Data Center    
Revenue from External Customer [Line Items]    
Revenue 4,284 3,750
Gaming    
Revenue from External Customer [Line Items]    
Revenue 2,240 3,620
Professional Visualization    
Revenue from External Customer [Line Items]    
Revenue 295 622
Automotive    
Revenue from External Customer [Line Items]    
Revenue 296 138
OEM and Other    
Revenue from External Customer [Line Items]    
Revenue $ 77 $ 158
v3.23.1
Segment Information - Concentration Risk (Details) - Accounts Receivable - Customer Concentration Risk
 3 Months Ended 12 Months Ended
Apr. 30, 2023
Jan. 29, 2023
Customer One    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent) 12.00% 14.00%
Customers Two    
Revenue, Major Customer [Line Items]    
Concentration risk (as percent) 10.00% 11.00%