Another quarter, another year, another set of record-breaking financial results for Nvidia, thanks to its data centre revenue, but the brand’s gaming business has taken a hit. More concerningly for consumers, the company expects demand for its graphics cards to remain high, but for supply to remain constrained.
In Q4 2026 alone, running from 27 October to 25 January, Nvidia accrued a staggering $68.1B of revenue, up 20% from the previous quarter and 73% from Q4 2025. The majority of this income came from its data centre business, to the tune of $62.3B, similarly up 22% and 75% from the previous quarter and year, respectively.
However, the balance sheet is less rosy for Nvidia’s Gaming and AI PC ventures. While this sector of the company still enjoyed a handsome $3.7B of revenue this quarter, up 47% from the previous year, this amount marks a 14% decrease from Q3 2026, which was already down 1% from the quarter prior.
This downward trend will likely continue, as Nvidia and other GPU manufacturers struggle to contend with the ongoing memory shortage. Colette Kress, executive vice president and chief financial officer, hints as much. During the earnings call, she stated that the company expects supply for the gaming business to be “very tight” for the next couple of quarters.
While this situation will impact Nvidia’s bottom line to a degree, consumers will more keenly feel these consequences. In short, expect the market conditions we’re already suffering to stick around a while longer, including absurd graphics card prices and low GPU availability for several 16GB models.
Given Kress’ comments, I’m less confident we’ll see rumours of a GeForce RTX 5090 Ti materialise into an actual purchasable product. Then again, if MSI can sell out of GeForce RTX 5090 Lightning Z cards at £5,000 a pop, perhaps Nvidia would be foolish not to launch something almost (if not just as) expensive.
We’ll be regularly updating our best GPU recommendations throughout the year as availability ebbs and flows, so make sure to check out our shortlist if you’re thinking about a graphics card upgrade.
