Nvidia just delivered the earnings report Wall Street's been holding its breath for. The chipmaker posted record fourth-quarter revenue of $68.1 billion, up 73% year-over-year and 20% from the previous quarter, according to results released Wednesday. The numbers prove what the market's been betting on - that enterprise AI spending isn't slowing down anytime soon. It's the clearest signal yet that the generative AI infrastructure buildout is accelerating, not plateauing.
Nvidia just put to rest any lingering doubts about AI demand. The company's fourth-quarter results for fiscal 2026, ending January 25, show revenue hitting $68.1 billion - a staggering 73% jump from the same period last year and a 20% climb from Q3, according to the company's official announcement.
The sequential growth is what really matters here. While year-over-year comparisons can mask momentum shifts, that 20% quarter-over-quarter surge tells you everything about where enterprise AI spending is headed. Companies aren't just maintaining their GPU orders - they're accelerating them.
This isn't just about Nvidia anymore. These numbers are a referendum on the entire AI infrastructure buildout that's reshaping enterprise tech. Every hyperscaler from Microsoft to Amazon has been pouring billions into datacenters packed with Nvidia's H100 and newer Blackwell GPUs. The question hanging over the market has been whether that spending can sustain its pace or if we're approaching peak AI investment.
Nvidia's Q4 answers that emphatically. The momentum is building, not fading.
The context matters. Just six months ago, analysts were debating whether AI capital expenditure would plateau as companies waited to see returns on their massive investments. Some pointed to longer deployment cycles for large language models as a potential brake on GPU demand. Others worried that competition from AMD and custom chips from hyperscalers would start eating into Nvidia's dominance.
