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Only 40.3% of net income arrived as operating cash

Operating cash flow of $24.1B was 40.3% of $59.7B net income, as extended payment terms moved profit into receivables rather than cash.

Q2 FY2027, the quarter to Jul 26, 2026 · 10-Q filed Aug 26, 2026

Q2 FY2027 · revenue
$96.2B+105.9% on the year
Operating margin
66.2%
Net income
$59.7B
Free cash flow, quarter
$21.4B

Largest source of revenue: Hyperscale, 50.6% of the total.

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Where NVIDIA's money goes

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Key insights · Q2 FY2027
  1. 01

    Only 40.3% of net income arrived as operating cash

    Operating cash flow of $24.1B was 40.3% of $59.7B net income, as extended payment terms moved profit into receivables rather than cash.

    Why it matters

    Operating cash flow was $24.1B this quarter against $50.3B the quarter before, while net income was $59.7B. Cash flow equalled 40.3% of net income, against 86.3% the prior quarter. A year earlier, operating cash flow was $15.4B against net income of $26.4B. Free cash flow of $21.4B was 22.2% of revenue, far below the 66.2% operating margin.1

    The filing names the cause: an increase in receivables from "extended payment terms on large multi-quarter agreements with certain investment-grade customers". It says these financing arrangements "will continue to affect the timing of our operating cash flows." Capital spending was small at $2.7B, 2.8% of revenue, so the gap comes from working capital, not investment.1

    AnalysisA gap like this is timing if the receivables convert to cash on schedule. If payment terms keep lengthening as deals grow, part of the growth is being funded from NVIDIA's own balance sheet. Operating cash flow relative to net income over the next few quarters is the line that separates the two readings.

  2. 02

    Supply commitments now exceed last year's revenue

    Commitments rose to $279B from $119B in one quarter, 129.2% of last fiscal year's $215.9B revenue, to secure memory and manufacturing capacity.

    Why it matters

    Supply and capacity commitments reached $279B at quarter end, up from $119B a quarter earlier. The filing says they are "primarily memory and manufacturing facilities" for current and future architectures, made "to meet future demand" while the company is "currently experiencing certain supply constraints". The total equals 129.2% of last fiscal year's revenue of $215.9B.1

    Some of the agreements "may be cancelable, rescheduled, or adjustable for our business needs prior to placing firm orders", and the filing adds that changes "may result in additional costs." It does not say how much of the total is flexible.1

    AnalysisThis is one decision seen from two sides. In a market limited by memory and manufacturing capacity, reserved supply lets NVIDIA ship while others wait. If demand estimates prove high, the commitments remain, and the filing itself records inventory and purchase-obligation charges taken when demand for earlier China products fell away.

  3. 03

    88.3% of gross profit reached operating income

    Operating expenses grew 55.3% against revenue growth of 105.9%, falling to 8.7% of revenue, so most of the added gross profit flowed through.

    Why it matters

    Gross profit was $72.1B and total operating expenses $8.4B, so 88.3% of gross profit reached operating income of $63.7B. Research and development of $7.05B made up 83.9% of operating expenses; sales, general and administrative costs were 1.4% of revenue. Operating expenses rose 55.3%, driven, the filing says, by "higher compute infrastructure and compensation and benefits costs".1

    The same structure cuts both ways in the history. Revenue of $27.0B produced operating income of only $4.2B, a 15.7% margin, the year after $26.9B of revenue had produced $10.0B. Last fiscal year, revenue of $215.9B produced operating income of $130.4B, a 60.4% margin.1

    By segment, Compute & Networking earned $62.7B on $88.3B of revenue, 71.0%, and Graphics $3.9B on $7.9B, 49.2%. The filing's segment measure leaves out stock-based compensation and some corporate costs, so the two segments add up to more than consolidated operating income.1

    AnalysisThe engineering budget is largely set by the product roadmap rather than by units sold, so a fall in revenue would reach operating income faster than revenue, as the earlier year shows. The leverage comes with scale and depends on keeping it.

  4. 04

    Equity gains supply a tenth of pre-tax profit

    Other income of $7.8B, mostly unrealized gains on stakes in other companies, was 10.9% of pre-tax income and moves with valuations, not shipments.

    Why it matters

    Other income, net, rose to $7.8B from $2.8B a year earlier, up 181.0%. The filing says the gains were "primarily driven by unrealized gains in equity securities". The line was 10.9% of income before tax. Income tax took 16.5% of pre-tax income, and net income of $59.7B was 93.7% of operating income of $63.7B.1

    The quarter before shows how large the line can get: net income of $58.3B exceeded operating income of $53.5B, at 108.9% of it. This quarter operating income rose to $63.7B from $53.5B, yet net income moved only to $59.7B from $58.3B. The filing's six-month figures show most of the period's equity gains fell in the earlier quarter.1

    AnalysisThe filing describes these stakes as ecosystem investments, including AI model makers and infrastructure financiers, some of which buy or build on NVIDIA's products. Their value moves with private and public valuations rather than with shipments, so operating income is the cleaner read of the business, and the distance between it and net income is worth tracking.

Sources

  1. 1.NVIDIA 10-Q for the period to 2026-07-26 (the filing), Aug 26, 2026, read Nov 1, 2026

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Business performance

Growth, profit and margin

Revenue went from $4.1B in FY2008 to $215.9B in FY2026, the operating margin from 20.4% to 60.4%, over 18 years.

  • Revenue$215.9B
  • Operating income$130.4B
  • Operating margin60.4%
Period
Q2 FY2027
Revenue
$96.2B
Operating income
$63.7B
Operating margin
66.2%
Net income
$59.7B
Free cash flow
$21.4B
Business performance

Does the profit turn into cash?

Q2 FY2027: free cash flow of $21.4B against net income of $59.7B in the quarter.

  • Operating cash flow$102.7B
  • Capital expenditure$6.0B
  • Free cash flow$96.7B
  • Net income$120.1B

Capital expenditure is drawn below the axis as cash out. Cash conversion is operating cash flow over net income, shown in the tooltip for years with a profit.

Financial data and sources

How the revenue mix has shifted

Each breakdown the filing reports, as shares of revenue, for every period it restates.

Segment Information - Schedule of Revenue by Market Platform (Details). The filing restates this breakdown for 1 period.

Click a member to isolate it across the years shown.

The figures

Margins, cash and growth for the period, each with what it was computed from.

Gross margin
75.0%
Source10-Q, Derived from Gross profit and Revenue in the 10-Q filed 2026-08-26
Operating margin
66.2%
Source10-Q, Derived from Operating income and Revenue in the 10-Q filed 2026-08-26
Net margin
62.0%
Source10-Q, Derived from Net income and Revenue in the 10-Q filed 2026-08-26
Free cash flow, quarter
$21.4B
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-08-26
Free cash flow margin, quarter
22.2%
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-08-26
Cash conversion, quarter
0.40x
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-08-26
Capital spending, quarter
2.8%
Source10-Q, Derived from the prior period in the history in the 10-Q filed 2026-08-26
Revenue growth
+105.9%
From the record's own history, against the prior year.

Where revenue comes from

Every breakdown the filing reports for the period, with each item's share.

Revenue streams

Hyperscale$48.7B50.6%
AI Clouds, Industrial, & Enterprise$40.3B41.9%
Edge Computing$7.2B7.5%

Source10-Q, us-gaap:Revenues, as reported in the 10-Q filed 2026-08-26

Segments

Compute & Networking$88.3B91.8%
Graphics$7.9B8.2%

Source10-Q, us-gaap:Revenues, as reported in the 10-Q filed 2026-08-26

Geographic markets

China (including Hong Kong)$7.9B8.2%
Other$1.3B1.3%

These items do not sum to total revenue; the filing states them beside it. Source10-Q, us-gaap:Revenues, as reported in the 10-Q filed 2026-08-26

What it costs

The cost lines beneath operating income, each as a share of revenue, then the operating result.

Costs are reported by function: what it cost to make what was sold, then the expenses of selling, developing and administering.

Cost lineQ2 FY2027Of revenueSource
Cost of revenue$24.1B25.0%Source10-Q, us-gaap:CostOfRevenue, as reported in the 10-Q filed 2026-08-26
Operating income$63.7B66.2%Source10-Q, us-gaap:OperatingIncomeLoss, as reported in the 10-Q filed 2026-08-26

Operating income by segment

Where the operating profit is earned, as the filing reports it.

Segments

Compute & Networking$62.7B98.4%
Graphics$3.9B6.1%

Shares of operating income. The segments do not sum to the total; the filing states them beside it. Source10-Q, us-gaap:OperatingIncomeLoss, as reported in the 10-Q filed 2026-08-26

Operating figures the company states

From the text of the filing rather than its statements, each with the sentence that states it.

Employees in Israel operations
6,200 employees
As of Jul 26, 2026
View source
Our global supply chain for networking products, including our Israel operations, with approximately 6,200 employees, supporting research and development, operations, and sales and marketing, has not been significantly impacted by the conflict in the Middle East.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, 10-Q filed Aug 26, 2026
Largest direct customer, share of revenue
16.0%
As of Jul 26, 2026
View source
For the second quarter of fiscal year 2027, one direct customer represented 16% of total revenue, which was primarily attributable to the Compute & Networking segment.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, 10-Q filed Aug 26, 2026
Revenue from customers headquartered outside the U.S., share
38.0%
As of Jul 26, 2026
View source
Revenue from sales to customers headquartered outside of the United States accounted for 38% and 30% of total revenue for the second quarter and first half of fiscal year 2027, respectively, and 30% and 35% of total revenue for the second quarter and first half of fiscal year 2026, respectively.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, 10-Q filed Aug 26, 2026
Supply and capacity commitments
$279.0B
As of Jul 26, 2026
View source
We have significantly increased our supply and capacity commitments from $119 billion last quarter to $279 billion as of July 26, 2026 to meet future demand.
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, 10-Q filed Aug 26, 2026

The statements, as filed

The income statement, cash flow statement and balance sheet in the company's own order and words. Every line links to the filing.

Income statement15 lines, as presented in the 10-Q
LineQ2 FY2027A year earlierChangeOf revenueSource
Income Statement
Revenue$96.22B$46.74B+106%100%Source10-Q, us-gaap:Revenues, as reported in the 10-Q filed 2026-08-26
Cost of revenue$24.08B$12.89B+87%25.0%Source10-Q, us-gaap:CostOfRevenue, as reported in the 10-Q filed 2026-08-26
Gross profit$72.14B$33.85B+113%75.0%Source10-Q, us-gaap:GrossProfit, as reported in the 10-Q filed 2026-08-26
Operating expenses
Research and development$7.05B$4.29B+64%7.3%Source10-Q, us-gaap:ResearchAndDevelopmentExpense, as reported in the 10-Q filed 2026-08-26
Sales, general and administrative$1.35B$1.12B+21%1.4%Source10-Q, us-gaap:SellingGeneralAndAdministrativeExpense, as reported in the 10-Q filed 2026-08-26
Total operating expenses$8.41B$5.41B+55%8.7%Source10-Q, us-gaap:OperatingExpenses, as reported in the 10-Q filed 2026-08-26
Income Statement
Operating income$63.73B$28.44B+124%66.2%Source10-Q, us-gaap:OperatingIncomeLoss, as reported in the 10-Q filed 2026-08-26
Other income, net$7.77B$2.77B+181%8.1%Source10-Q, us-gaap:NonoperatingIncomeExpense, as reported in the 10-Q filed 2026-08-26
Income before income tax$71.51B$31.21B+129%74.3%Source10-Q, us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest, as reported in the 10-Q filed 2026-08-26
Income tax expense$11.80B$4.80B+146%12.3%Source10-Q, us-gaap:IncomeTaxExpenseBenefit, as reported in the 10-Q filed 2026-08-26
Net income$59.69B$26.42B+126%62.0%Source10-Q, us-gaap:NetIncomeLoss, as reported in the 10-Q filed 2026-08-26
Net income per share:
Basic (in dollars per share)$2$1+129%0.0%Source10-Q, us-gaap:EarningsPerShareBasic, as reported in the 10-Q filed 2026-08-26
Diluted (in dollars per share)$2$1+128%0.0%Source10-Q, us-gaap:EarningsPerShareDiluted, as reported in the 10-Q filed 2026-08-26
Weighted average shares used in per share computation:
Basic (in shares)24,190,000,00024,366,000,000-0.7%Source10-Q, us-gaap:WeightedAverageNumberOfSharesOutstandingBasic, as reported in the 10-Q filed 2026-08-26
Diluted (in shares)24,285,000,00024,532,000,000-1.0%Source10-Q, us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding, as reported in the 10-Q filed 2026-08-26
Cash flow statement4 lines, as presented in the 10-Q

Year to date, as a quarterly filing reports it.

LineQ2 FY2027A year earlierChangeSource
Cash flows from operating activities:
Net income$59.69B$26.42B+126%Source10-Q, us-gaap:NetIncomeLoss, as reported in the 10-Q filed 2026-08-26
Adjustments to reconcile net income to net cash provided by operating activities:
Gains from equity securities, net (shown as a deduction)($7.77B)$2.25B+246%Source10-Q, us-gaap:GainLossOnInvestments, as reported in the 10-Q filed 2026-08-26
Cash flows from financing activities:
Dividends paid (shown as a deduction)($6.00B)$244.0M+2,359%Source10-Q, us-gaap:PaymentsOfDividends, as reported in the 10-Q filed 2026-08-26
Statement of Cash Flows
Cash and cash equivalents at end of period$22.44B$11.64B+93%Source10-Q, us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents, as reported in the 10-Q filed 2026-08-26
Balance sheet30 lines, as presented in the 10-Q
LineQ2 FY2027A year earlierChangeSource
Current assets:
Cash and cash equivalents$22.44BSource10-Q, us-gaap:CashAndCashEquivalentsAtCarryingValue, as reported in the 10-Q filed 2026-08-26
Marketable debt securities$34.14BSource10-Q, us-gaap:DebtSecuritiesCurrent, as reported in the 10-Q filed 2026-08-26
Marketable equity securities$42.78BSource10-Q, us-gaap:EquitySecuritiesFvNi, as reported in the 10-Q filed 2026-08-26
Accounts receivable, net$63.06BSource10-Q, us-gaap:AccountsReceivableNetCurrent, as reported in the 10-Q filed 2026-08-26
Inventories$31.58BSource10-Q, us-gaap:InventoryNet, as reported in the 10-Q filed 2026-08-26
Prepaid expenses and other current assets$3.41BSource10-Q, us-gaap:PrepaidExpenseAndOtherAssetsCurrent, as reported in the 10-Q filed 2026-08-26
Total current assets$197.41BSource10-Q, us-gaap:AssetsCurrent, as reported in the 10-Q filed 2026-08-26
Assets
Property and equipment, net$14.29BSource10-Q, us-gaap:PropertyPlantAndEquipmentNet, as reported in the 10-Q filed 2026-08-26
Operating lease assets$5.39BSource10-Q, us-gaap:OperatingLeaseRightOfUseAsset, as reported in the 10-Q filed 2026-08-26
Goodwill$21.13BSource10-Q, us-gaap:Goodwill, as reported in the 10-Q filed 2026-08-26
Intangible assets, net$3.00BSource10-Q, us-gaap:IntangibleAssetsNetExcludingGoodwill, as reported in the 10-Q filed 2026-08-26
Deferred income tax assets$12.16BSource10-Q, us-gaap:DeferredIncomeTaxAssetsNet, as reported in the 10-Q filed 2026-08-26
Non-marketable securities$51.16BSource10-Q, nvda:NonMarketableSecurities, as reported in the 10-Q filed 2026-08-26
Other assets$15.75BSource10-Q, us-gaap:OtherAssetsNoncurrent, as reported in the 10-Q filed 2026-08-26
Total assets$320.27BSource10-Q, us-gaap:Assets, as reported in the 10-Q filed 2026-08-26
Current liabilities:
Accounts payable$15.06BSource10-Q, us-gaap:AccountsPayableCurrent, as reported in the 10-Q filed 2026-08-26
Accrued and other current liabilities$26.96BSource10-Q, us-gaap:AccruedLiabilitiesCurrent, as reported in the 10-Q filed 2026-08-26
Short-term debt$1.00BSource10-Q, us-gaap:DebtCurrent, as reported in the 10-Q filed 2026-08-26
Total current liabilities$43.02BSource10-Q, us-gaap:LiabilitiesCurrent, as reported in the 10-Q filed 2026-08-26
Liabilities and Shareholders’ Equity
Long-term debt$32.37BSource10-Q, us-gaap:LongTermDebtNoncurrent, as reported in the 10-Q filed 2026-08-26
Long-term operating lease liabilities$4.99BSource10-Q, us-gaap:OperatingLeaseLiabilityNoncurrent, as reported in the 10-Q filed 2026-08-26
Other long-term liabilities$10.92BSource10-Q, us-gaap:OtherLiabilitiesNoncurrent, as reported in the 10-Q filed 2026-08-26
Total liabilities$91.29BSource10-Q, us-gaap:Liabilities, as reported in the 10-Q filed 2026-08-26
Shareholders’ equity:
Preferred stock$0Source10-Q, us-gaap:PreferredStockValueOutstanding, as reported in the 10-Q filed 2026-08-26
Common stock$24.0MSource10-Q, us-gaap:CommonStockValue, as reported in the 10-Q filed 2026-08-26
Additional paid-in capital$9.83BSource10-Q, us-gaap:AdditionalPaidInCapital, as reported in the 10-Q filed 2026-08-26
Accumulated other comprehensive income (loss)-$25.0MSource10-Q, us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax, as reported in the 10-Q filed 2026-08-26
Retained earnings$219.16BSource10-Q, us-gaap:RetainedEarningsAccumulatedDeficit, as reported in the 10-Q filed 2026-08-26
Total shareholders’ equity$228.98B$100.13B+129%Source10-Q, us-gaap:StockholdersEquity, as reported in the 10-Q filed 2026-08-26
Liabilities and Shareholders’ Equity
Total liabilities and shareholders’ equity$320.27BSource10-Q, us-gaap:LiabilitiesAndStockholdersEquity, as reported in the 10-Q filed 2026-08-26

About this data

Source
NVIDIA 10-Q, accession 0001045810-26-000075, filed Aug 26, 2026, read on Nov 1, 2026.
History
From the SEC's XBRL company facts, the value from the latest filing that stated each period.
Reading
Paragraphs marked Analysis are CXProWealth's reading; everything else is the filing's own numbers and words, or a cited source.
Version
methodology business-lens-1.0 · schema 1.2.0 · run business-lens-2026-11-01
Edge and risks

What holds NVIDIA's model up, and what could bend it

Competitive edge

  • Prices set by system value, not by parts cost

    Gross margin rose 2.55 points to 75.0% on Blackwell Ultra mix, and the filing says pricing does not move with short-term cost changes.

    The detail

    The filing states that "product and solution pricing generally does not fluctuate with short-term changes in our costs." Cost of revenue, which includes memory and components, was 25.0% of revenue, down 2.55 points. The company credits the margin gain to "improved mix from Blackwell Ultra", its newest full data center system.1

    The contrast sits in the same filing. Edge Computing, which includes consumer PCs, grew 27.5% and fell 4.6 points to 7.5% of revenue, with consumer PC sales "tempered by elevated memory and systems prices". Higher memory prices slowed the consumer line while the data center margin rose.1

    AnalysisA buyer of a full system of processors, networking and software pays for the computing it delivers, so the parts bill is a minor input to the price. That holds while the integrated system is hard to match; the margin through the move to the next architecture would test it.

  • Growth is spreading beyond the largest cloud buyers

    AI Clouds, Industrial, & Enterprise grew 138.1% to 41.9% of revenue, while the largest direct customer fell to 16% from 23%.

    The detail

    Hyperscale revenue was $48.7B, up 101.6%, and 50.6% of revenue. AI Clouds, Industrial, & Enterprise was $40.3B, up 138.1%, which the filing credits to "end-demand from AI natives, enterprises, and sovereign customers, as well as hyperscalers utilizing AI clouds". Customers headquartered outside the U.S. were 38% of revenue, against 30% a year earlier.1

    This quarter NVIDIA introduced a model in which AI clouds buy its systems and it commits to cloud service agreements, taking capacity they cannot sell and possibly sharing in revenue from capacity they do sell. The filing says these partners have "strong customer demand and robust sales pipelines" but are constrained by the infrastructure required.1

    Breadth among direct buyers is not the whole picture. The filing estimates that "one AI research and deployment company contributed a meaningful amount of our revenue by purchasing cloud services from our customers", and one direct customer still accounted for 16% of revenue.1

What to watch

  • Commitments and guarantees turn customer risk into NVIDIA's cost

    NVIDIA backs some customers' data center leases and agrees to buy AI cloud capacity they cannot sell, so a buyer's distress could reach its results.

    The detail

    The newest risk factor covers commitments made years ahead for supply, cloud services and data center leases: "If future demand, our needs or plans differ from our expectations, we may be unable to reduce these commitments." Supply and capacity commitments alone were $279B at quarter end.1

    NVIDIA also guarantees parts of customers' data center leases, including, after quarter end, a campus in Ohio leased to OpenAI. Under its AI cloud agreements, "if AI clouds do not successfully sell committed capacity to third-party customers, we have agreed to purchase that capacity." The filing warns customers or partners may "experience financial distress or insolvency".1

    AnalysisNone of these has cost money yet; they are exposures, not events. They share one dependency: AI builders raising capital and selling compute, the same group whose spending drives revenue. If that group came under strain, these risks would tend to arrive together rather than one at a time.

  • Shut out of China's data center market

    China, including Hong Kong, was 8.2% of revenue by customer headquarters, and the filing says NVIDIA is effectively foreclosed from its data center market.

    The detail

    China, including Hong Kong, brought in $7.9B of the quarter's $96.2B revenue, measured by where direct customers are headquartered. The filing says NVIDIA can still ship uncontrolled products there, such as gaming and workstation GPUs, but was "effectively foreclosed from competing in China's data center computing/compute market", which "helped our competitors build larger developer and customer ecosystems to challenge us worldwide."1

    Licensed sales to China were restricted by the Chinese government, licensed shipments carry a U.S. tariff the company says it has been unable to pass on, China's antitrust regulators have made a preliminary finding against it over the Mellanox acquisition, and further U.S. rules, including possible chip-tracking mandates, are named as risks.1

    AnalysisThe direct revenue at stake is now modest. The wider risk the filing names is that controls lead customers elsewhere to "design-out" U.S. chips and help rivals' ecosystems grow, an effect that would appear outside China rather than in its revenue line.

  • Demand depends on customers finding power, land and capital

    Data center sales need sites with land, power and financing, and the filing warns its demand estimates can be inaccurate and swing revenue.

    The detail

    The filing says "the availability of land, power, shell, and capital is crucial" to customers' buildouts, that less-capitalized buyers may struggle to secure financing, and that customers may postpone new architectures. It adds: "Demand estimates for our products can be inaccurate and create volatility in our revenue or supply levels."1

    Supply is concentrated too. NVIDIA depends on suppliers "especially in Taiwan and South Korea", and its networking supply chain includes Israel operations with approximately 6,200 employees, which the company says a wider Middle East conflict could disrupt. On the demand side, one direct customer was 16% of revenue.1

    AnalysisThe new financing programs and lease guarantees are NVIDIA's response to this constraint. They widen the set of buyers able to deploy its systems, and they also tie more of its results to how those buyers fare.

Sources

  1. 1.NVIDIA 10-Q for the period to 2026-07-26 (the filing), Aug 26, 2026, read Nov 1, 2026
Go deeper

NVIDIA, further in

Member research, then your own questions on ChatGPT.

What could change the outlook

What NVIDIA's numbers depend on from here, read from the filing: the conditions behind this period's margins and growth, and where a change would show first.

  • Will the cash catch up with the profit?

    What separates a timing gap from customer financing, which lines in the coming filings would show the difference, and how the payment terms connect to the commitment book.

  • How much room the commitment book leaves

    What the supply commitments and guarantees require of demand from here, which parts can bend, and where the exposures are concentrated.

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Explore its profit drivers, competitive edge, risks, or your own investment and business questions with CXProWealth on ChatGPT.

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Questions to start with
  • How would NVIDIA's operating cash flow compare with net income if extended payment terms on large agreements keep growing?
  • How much of NVIDIA's $279B in supply commitments could be cancelled or rescheduled if data center demand slowed?
  • What would NVIDIA's net income look like without the unrealized gains on its stakes in AI companies?

Business Lens describes NVIDIA from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing, the dates and the version are under the financial data above.