If you were wondering why Nvidia isn’t releasing any consumer gaming graphics cards this year, just take a look at its latest earnings report. In the last quarter, Nvidia earned over $68 billion in revenue, but just 5.5% of that came from gaming. That’s $3.8 billion from GPUs, gaming laptop integrations, GeForce Now—all of it—while data centers raked in over $62 billion.
It’s easy to forget that Nvidia’s status as the world’s most valuable company is a relatively new phenomenon. In fiscal year 2020, revenue was just $10.9 billion. By 2022, it had more than doubled to $26 billion and then exploded to $131 billion last year. It’s now at $216 billion for the fiscal year that ended on Jan. 25, 2026.
Gaming used to account for a much larger share of…