Nvidia says networking revenue hit $11B in Q4 FY2026, not Q1

In short: Nvidia’s networking business reached $11 billion in revenue in Q4 FY2026, and the often-cited $11 billion figure does not apply to Q1.

What's going on

Nvidia is best known for selling AI chips, but it also sells the networking gear that helps rows of computers talk to each other inside data centers. Think of it like the roads and traffic lights that keep a busy city moving, except the “cars” are data.

Some reports and online posts have mixed up Nvidia’s quarterly numbers. Nvidia’s networking revenue was $5 billion in Q1 FY2026, which ended April 27, 2025. The $11 billion figure happened later, in Q4 FY2026, which ended January 25, 2026, and Nvidia said it was a record for the segment.

Nvidia said Q4 networking revenue was up 34% from the prior quarter and up 263% from the same quarter a year earlier. The company also said full-year FY2026 networking revenue was $31 billion, which it described as more than 10 times growth since it acquired Mellanox in FY2021.

The growth is tied to products like NVLink and Spectrum-X Ethernet. In simple terms, these are high-speed connections and switches (the boxes that direct data, like a postal sorting center) used to link many computers together for AI work.

What to watch

If AI data centers keep expanding, networking could keep taking a larger share of Nvidia’s business, even as the company faces limits on some sales to China. Watch whether big cloud buyers keep adopting Spectrum-X and related networking systems.

Source: TechCrunch AI