炸裂，全年营收1.3万亿元！黄仁勋：AI已到拐点，算力即营收

Core Insights - Nvidia reported record revenue for Q4 and the full fiscal year 2026, driven by strong growth in its data center business, with Q4 revenue reaching $68.1 billion, a 20% quarter-over-quarter increase and a 73% year-over-year increase [2] - The company emphasized that the demand for AI-driven computing power is experiencing explosive growth, equating computing power directly with revenue [4] Financial Performance - For Q4 2026, Nvidia achieved a net profit of $42.96 billion, a year-over-year increase of over 90%, with diluted earnings per share of $1.76 [2] - The full fiscal year 2026 saw Nvidia generate $215.9 billion in revenue, a 65% year-over-year increase, with a gross margin of 71.1% and a net profit of $120.067 billion, translating to diluted earnings per share of $4.90 [2] Data Center Business - The data center segment generated $62.3 billion in revenue for Q4, marking a historical high with a 22% quarter-over-quarter increase and a 75% year-over-year increase [2][3] - Over 50% of the data center revenue is attributed to the top five global cloud service providers and large-scale cloud enterprises, raising concerns about concentrated demand [3] AI and Computing Power - Nvidia's CEO highlighted that the transition of traditional data center workloads to GPU-accelerated computing, along with AI's enhancement of existing cloud workloads, will contribute significantly to long-term growth opportunities [3] - The company is currently deploying its Blackwell architecture with a computing power of 90 billion watts, fully operational [5] Product Developments - Nvidia has begun delivering the first samples of its Vera Rubin chip, with mass production expected to ramp up in the second half of 2026 [5] - The previous generation H200 chip has not yet generated revenue from exports to Chinese customers, and its future in the Chinese market remains uncertain [5] Market Dynamics - Nvidia's CEO expressed confidence in customer cash flow growth, citing the widespread validation of AI's utility across global enterprises [4] - The company is facing challenges related to storage chip shortages and power supply constraints, which are impacting data center operations [6]