By Rich Duprey
Publication Date: 2026-04-05 13:32:00
24/7 Wall St.
Quick Read
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Nvidia (NVDA) delivered $130.4B in operating income for fiscal 2026, a 30-fold increase from $4.2B in fiscal 2023, while maintaining a 71.3% gross margin on $215.9B in revenue. The company’s Vera Rubin platform, shipping in the second half of 2026, targets $1 trillion in cumulative lifetime sales for Blackwell and Vera Rubin chips combined through end of 2027.
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Nvidia’s forward valuation sits near 16x earnings despite record profitability and visible demand extending to 2027, as the stock trades under $200 after a three-year operational expansion unmatched in semiconductor history.
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The AI infrastructure buildout keeps accelerating. Hyperscalers and enterprises spent record sums on data-center chips last year, and spending shows no sign of peaking. Yet Nvidia (NASDAQ:NVDA) shares trade under $200, as they have since last November.
Yet, one number explains why this is not the top, but rather the entry point savvy investors should be waiting for. That number is Nvidia’s operating income. Let’s take a closer look at what it reveals about the company’s operational muscle, its runway ahead, and why the stock still looks cheap.
Nvidia’s Operating Income Explosion
Nvidia delivered $130.4 billion in operating income for…