---
title: "Nvidia: Business Model & Revenue Engine"
description: "NVIDIA revenue by business segment and geography from its fiscal 2026 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/nvidia/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# NVIDIA Business Model & Revenue Engine

## Direct Answer

NVIDIA reports revenue across 2 business segments in its fiscal 2026 Form 10-K. Compute and Networking is the largest, with $193 billion of revenue (90% of the total), followed by Graphics at $22.5 billion (10%). 69% of revenue came from the United States.

## How Does NVIDIA Make Money?

Compute and Networking supplies 90% of revenue, so NVIDIA's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2025 and 2026, Compute and Networking grew fastest (+66.5%) and Graphics slowest (+57.0%), so the revenue mix tilts toward Compute and Networking while that gap lasts.

| Segment | FY2026 revenue | FY2025 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Compute and Networking | $193 billion | $116 billion | 89.6% | 66.5% |
| Graphics | $22.5 billion | $14.3 billion | 10.4% | 57.0% |

![Bar chart of NVIDIA revenue by segment for fiscal 2026: Compute and Networking 89.6%, Graphics 10.4%.](https://www.getswoopr.com/images/charts/nvidia-business-model-segment-mix.webp)
*NVIDIA revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which NVIDIA Segments Earn the Most?

| Segment | FY2026 segment operating income | Segment margin |
| --- | --- | --- |
| Compute and Networking | $130 billion | 67.3% |
| Graphics | $9.2 billion | 40.8% |

Segment operating income is the profit measure NVIDIA reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within NVIDIA more safely than against another company.

## What Does NVIDIA Sell?

NVIDIA also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2026 revenue | FY2025 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Compute | $162 billion | $102 billion | 75.2% | 58.9% |
| Networking | $31.4 billion | $13.0 billion | 14.5% | 141.5% |
| Gaming | $16.0 billion | $11.3 billion | 7.4% | 41.3% |
| Professional Visualization | $3.2 billion | $1.9 billion | 1.5% | 69.9% |
| Automotive | $2.3 billion | $1.7 billion | 1.1% | 38.7% |
| OEM and Other | $619 million | $389 million | 0.3% | 59.1% |

## Where Does NVIDIA's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2026 revenue | FY2025 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| United States | $150 billion | $77.5 billion | 69.3% | 93.1% |
| Taiwan | $42.3 billion | $23.6 billion | 19.6% | 79.4% |
| China Including Hong Kong | $19.7 billion | $25.0 billion | 9.1% | -21.4% |
| Other countries | $4.3 billion | $4.4 billion | 2.0% | -1.6% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of NVIDIA's reported revenue for fiscal 2026; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value NVIDIA reported in the segment note and revenue disclosures of its Form 10-K filed February 25, 2026 (accession 0001045810-26-000021), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2026; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are NVIDIA's business segments?

In its fiscal 2026 Form 10-K, NVIDIA reports revenue for Compute and Networking and Graphics.

### Which part of NVIDIA brings in the most revenue?

Compute and Networking, with $193 billion of revenue in fiscal 2026, or 90% of the total.

### How much of NVIDIA's revenue comes from outside the United States?

31% in fiscal 2026, by the geographic breakdown NVIDIA reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: NVIDIA CORP Form 10-K filed February 25, 2026](https://www.sec.gov/Archives/edgar/data/1045810/000104581026000021/nvda-20260125.htm)
- [SEC EDGAR: NVIDIA CORP annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1045810&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [NVIDIA company dossier](https://www.getswoopr.com/stocks/companies/nvidia/)
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- [NVIDIA peer comparison](https://www.getswoopr.com/stocks/companies/nvidia/competitors/)
- [NVIDIA business model and revenue mix](https://www.getswoopr.com/stocks/companies/nvidia/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).