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This article looks at Nvidia’s revenue by country. For your information, Nvidia derives the majority of its revenue from only two countries: the U.S. and China, with Taiwan and Hong Kong included.
The U.S. and China made up over 76% of Nvidia’s total revenue in fiscal year 2025. Excluding the U.S., Nvidia’s revenue from Asia, with Singapore included, contributed as much as 47% of the total in fiscal year 2025.
Let’s proceed to the details!
Investors looking for other statistics of Nvidia may find more resources on these pages:
Revenue
- Nvidia data center revenue: compute & networking,
- Nvidia revenue by market and product segment, and
- Nvidia revenue streams and profit margin by segment,
Profit margin
R&D Expenditures
Other Statistics
- Nvidia inventory levels, days sales, and turnover ratio,
- Nvidia financial health: debt, payment due, and liquidity,
Please use the table of contents to navigate this page.
Table Of Contents
Definitions And Overview
- Revenue By Country (based on customer headquarters location)
- Revenue By Country (based on customer billing location)
O2. Why does Nvidia get the majority of its revenue from the U.S.?
Insight & Summary of Observed Trends
Z1. Insight & Summary of Nvidia Revenue By Country
Nvidia Revenue (Based On Customer Headquarters Location)
A1. Revenue By Country
A2. Revenue Mix By Country
A3. Revenue YoY Growth By Country
Nvidia Revenue (Based On Customer Billing Location)
B1. Revenue By Country
B2. Revenue Mix By Country
B3. Revenue YoY Growth By Country
Reference, Credits, and Disclosure
S1. References and Credits
S2. Disclosure
Definitions
To help readers understand the content better, the following terms and glossaries have been provided.
Revenue By Country (By Headquarters Location): According to the fiscal year 2026 annual report, Nvidia defines its revenue by geographic areas as sales designated based upon the headquarters location of the customer.
However, the end customer and shipping location may be different from customers’ headquarters location.
In the third quarter of fiscal year 2026, Nvidia changed to revenue based upon the location of customers’ headquarters as it believes it provides a better representation of the geographic profile of revenue.
In fiscal year 2026, Nvidia estimate 76% of Data Center revenue from Taiwan-headquartered customers was attributed to end customers based in the United States and Europe.
Revenue By Country (By Billing Location): According to the fiscal year 2025 annual report, Nvidia defines its revenue by geographic areas as sales designated based upon the billing location of the customer.
However, the end customer and shipping location may be different from customer’s billing location.
In addition, Nvidia has stated that the end customer location may be different than its customer’s billing location.
Why does Nvidia get the majority of its revenue from the U.S.?
Nvidia’s significant revenue from the U.S. can be attributed to several factors:
- Market Demand: The U.S. has a high demand for Nvidia’s products, particularly in sectors like gaming, data centers, and artificial intelligence (AI). The U.S. is home to many tech companies and data centers that rely on Nvidia’s GPUs and AI solutions.
- Strategic Partnerships: Nvidia has established strong partnerships with major U.S. companies, including tech giants like Amazon, Google, and Microsoft. These collaborations often involve large-scale purchases of Nvidia’s products for data centers and AI applications.
- Innovation and R&D: The U.S. is a global leader in technology and innovation, providing a fertile ground for Nvidia’s cutting-edge products. The presence of numerous tech startups and established companies in Silicon Valley and other tech hubs contributes to Nvidia’s revenue.
- Consumer Electronics: The U.S. has a large consumer base for high-end electronics, including gaming consoles and PCs, which rely heavily on Nvidia’s GPUs.
- Government Contracts: Nvidia also benefits from government contracts and investments in AI and high-performance computing, further boosting their revenue from the U.S.
These factors collectively contribute to Nvidia’s strong revenue generation from the U.S. market.
Insight & Summary of Nvidia Revenue By Country
The following analysis consolidates the trends observed for Nvidia’s revenue by country for the 2018–2026 period.
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Nvidia’s geographic revenue profile has shifted decisively toward the United States, which expanded from just 13% of billing-based revenue in 2018 to nearly half by 2025, and further to almost 70% of headquarters-based revenue by 2026.
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This reflects the company’s deepening reliance on U.S. hyperscalers and enterprise clients driving AI infrastructure demand.
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Taiwan maintained a significant but declining share, while China’s contribution contracted sharply after 2025, dropping from nearly one-fifth of revenue to just 9% by 2026, underscoring geopolitical and regulatory headwinds.
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Growth trends highlight the U.S. as the primary engine of expansion, with triple-digit YoY growth in both 2025 and 2026.
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Taiwan delivered strong growth in 2025 but moderated thereafter, while China swung into contraction in 2026. Other regions, including Singapore and Asia Pacific, showed bursts of growth but remain relatively small contributors in the overall mix.
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In summary, Nvidia’s revenue base has become increasingly concentrated in the U.S., reflecting both strategic alignment with domestic AI leaders and reduced exposure to China.
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This concentration signals resilience through U.S. enterprise demand but also heightened dependency on a single geography, with implications for diversification and geopolitical risk management.
The table below combines all key revenue metrics into a single view for the latest three fiscal years.
Nvidia Consolidated Revenue 3-Period Averages
| Metric | Avg. Value |
|---|---|
| Revenue by Country (HQ Location) – $ Millions (FY24-26) | |
| United States | $86,210.67 |
| Taiwan | $26,952.33 |
| China (Include HK) | $19,018.33 |
| Other | $3,604.33 |
| Total Revenue | $135,785.67 |
| Revenue Mix by Country (HQ Location) – % (FY24-26) | |
| United States | 60.17% |
| Taiwan | 20.73% |
| China (Include HK) | 16.17% |
| Other | 2.93% |
| Revenue YoY Growth by Country (HQ Location) – % (FY25-26) | |
| United States | 119.40% |
| Taiwan | 68.85% |
| China (Include HK) | 40.85% |
| Other | 50.90% |
| Total Revenue Growth | 89.85% |
| Revenue by Country (Billing Location) – $ Millions (FY23-25) | |
| United States | $32,171.67 |
| Singapore | $10,934.33 |
| Taiwan | $13,654.67 |
| China (Including HK) | $11,066.33 |
| Europe (FY19-21)* | $1,008.00 |
| Other | $4,970.67 |
| Total Revenue | $72,797.67 |
| Revenue Mix by Country (Billing Location) – % (FY23-25) | |
| United States | 40.63% |
| Singapore | 12.60% |
| Taiwan | 21.23% |
| China (Including HK) | 17.13% |
| Europe (FY19-21)* | 7.87% |
| Other | 8.33% |
| Revenue YoY Growth by Country (Billing Location) – % (FY23-25) | |
| United States | 147.70% |
| Singapore | 222.65% |
| Taiwan | 42.40% |
| China (Including HK) | 41.87% |
| Europe (FY19-21)* | 13.40% |
| Other | 25.77% |
| Total Revenue Growth | 80.10% |
*Note: Europe averages strictly represent the 3 latest available periods for that region (FY2019-2021) due to structural absence in recent reporting datasets.
Revenue By Country (Based On HQ Location)
You may find more information about the definition of Nvidia’s revenue by country (based on hq location) here: revenue by country (based on hq location).
Revenue by Country (Customer HQ) 3-Year Avg. ($ Millions)
| Metric | FY24-26 Avg. Value |
|---|---|
| United States | $86,210.67 |
| Taiwan | $26,952.33 |
| China (Include HK) | $19,018.33 |
| Other | $3,604.33 |
| Total Revenue | $135,785.67 |
Revenue Mix By Country (Based On HQ Location)
You may find more information about the definition of Nvidia’s revenue by country (based on hq location) here: revenue by country (based on hq location).
Revenue Mix by Country (Customer HQ) 3-Year Avg. (%)
| Metric | FY24-26 Avg. Value |
|---|---|
| United States | 60.17% |
| Taiwan | 20.73% |
| China (Include HK) | 16.17% |
| Other | 2.93% |
Revenue YoY Growth By Country (Based On HQ Location)
You may find more information about the definition of Nvidia’s revenue by country (based on hq location) here: revenue by country (based on hq location).
Revenue YoY Growth by Country (Customer HQ) 2-Period Avg. (%)
| Metric | FY25-26 Avg. Value |
|---|---|
| United States | 119.40% |
| Taiwan | 68.85% |
| China (Include HK) | 40.85% |
| Other | 50.90% |
| Total Revenue Growth | 89.85% |
Revenue By Country (Based On Billing Location)
You may find more information about the definition of Nvidia’s revenue by country (based on billing location) here: revenue by country (based on billing location).
Starting in fiscal year 2022, Nvidia no longer provides a detailed breakdown of its revenue from Europe and the Asia Pacific regions. Instead, the company has consolidated these figures under the “Other Countries” segment.
Also, Nvidia has shifted its regional reporting from “by billing location” to “by headquarters location” starting in fiscal year 2026.
Revenue by Country (Customer Billing) 3-Year Avg. ($ Millions)
| Metric | Avg. Value |
|---|---|
| United States (FY23-25) | $32,171.67 |
| Singapore (FY23-25) | $10,934.33 |
| Taiwan (FY23-25) | $13,654.67 |
| China (Including HK) (FY23-25) | $11,066.33 |
| Europe (FY19-21)* | $1,008.00 |
| Other (FY23-25) | $4,970.67 |
| Total Revenue (FY23-25) | $72,797.67 |
*Note: Europe averages explicitly represent the 3 latest available reporting periods (FY2019-2021) for this region.
Revenue Mix By Country (Based On Billing Location)
You may find more information about the definition of Nvidia’s revenue by country (based on billing location) here: revenue by country (based on billing location).
Also, Nvidia has shifted its regional reporting from “by billing location” to “by headquarters location” starting in fiscal year 2026.
Revenue Mix by Country (Customer Billing) 3-Year Avg. (%)
| Metric | Avg. Value |
|---|---|
| United States (FY23-25) | 40.63% |
| Singapore (FY23-25) | 12.60% |
| Taiwan (FY23-25) | 21.23% |
| China (Including HK) (FY23-25) | 17.13% |
| Europe (FY19-21)* | 7.87% |
| Other (FY23-25) | 8.33% |
*Note: Europe averages explicitly represent the 3 latest available reporting periods (FY2019-2021) for this region.
Revenue YoY Growth By Country (Based On Billing Location)
You may find more information about the definition of Nvidia’s revenue by country (based on billing location) here: revenue by country (based on billing location).
Also, Nvidia has shifted its regional reporting from “by billing location” to “by headquarters location” starting in fiscal year 2026.
Revenue YoY Growth by Country (Customer Billing) 3-Year Avg. (%)
| Metric | Avg. Value |
|---|---|
| United States (FY23-25) | 147.70% |
| Singapore (FY23-25) | 222.65% |
| Taiwan (FY23-25) | 42.40% |
| China (Including HK) (FY23-25) | 41.87% |
| Europe (FY19-21)* | 13.40% |
| Other (FY23-25) | 25.77% |
| Total Revenue Growth (FY23-25) | 80.10% |
*Note: Europe averages explicitly represent the 3 latest available reporting periods (FY2019-2021) for this region.
References and Credits
1. All financial figures presented were obtained and referenced from Nvidia’s quarterly and annual reports published on the company’s investor relations page: Nvidia Financial Reports.
2. Pexels Images.
Disclosure
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