Nvidia's latest fiscal fourth-quarter results published on February 25 beat market expectations, with record revenue of $68.13 billion.
This marked an increase of 73.21 per cent, compared with the previous year, and a rise of 19.51 per cent from the previous quarter.
The figures came as a relief for investors, only months after stock markets fell in mid-December 2025 amid uncertainty about an AI bubble.
But they also told a story of a continuing shift in demand for the company that was once known more for its gaming computers, as once again data centres led revenue to a new high.
Data centres accounted for 91.45 per cent of total revenue, an increase of 75 per cent year-on-year and up 21.62 per cent from the last quarter.
Not so long ago, Nvidia's gaming and data divisions used to share close to 90 per cent of total revenue, with a split of 43.68 per cent and 45.25 per cent, respectively, in the company's fiscal first quarter of 2023.
However, data centres broke the 75 per cent mark one year later, in the second quarter of the 2024 fiscal year. That same year the company hit a market capitalisation of $1 trillion, and data centre contributions have only grown since then.
For the next quarter, the first of its 2027 fiscal year, the company expects revenue of $78 billion, plus or minus 2 per cent, assuming no data centre compute revenue from China.
