Nvidia and Alphabet: Two Paths to AI Dominance in Earnings
Nvidia closed its fiscal year with $68.13B in Q4 revenue, up 73.2% YoY, while Alphabet reported $109.9B in Q1 revenue and a $460B cloud backlog. The earnings highlight two distinct approaches to AI: Nvidia sells the hardware, Alphabet builds the services.
Key Numbers
NVIDIA (NASDAQ: NVDA) closed its fiscal year on Feb. 25, 2026 with $68.13 billion in Q4 revenue, up 73.2% YoY. Alphabet (NASDAQ: GOOGL) followed in late April with $109.90 billion in Q1 revenue and a $460 billion Cloud backlog. Both earnings reports frame the same AI build-out from opposite ends: NVIDIA sells the shovels, Alphabet digs the mine.
Key Financial Results
| Company | Revenue | YoY Growth | Net Income (not disclosed) |
|---|---|---|---|
| Nvidia (Q4 FY2026) | $68.13B | 73.2% | Not disclosed |
| Alphabet (Q1 2026) | $109.90B | Not disclosed | Not disclosed |
Note: Net income and EPS were not disclosed in the available report.
Highlights from the Reports
- Nvidia: Record revenue driven by surging demand for AI GPUs.
- Alphabet: Cloud backlog of $460 billion, indicating long-term customer commitments.
Guidance
Neither company provided formal guidance for upcoming quarters in the published report.
Stock Impact
Specific stock reactions were not mentioned, but strong numbers are expected to boost investor confidence.
What This Means for Investors
Nvidia and Alphabet represent two complementary AI strategies: hardware vs. cloud services. Investors seeking pure-play AI infrastructure may favor Nvidia, while Alphabet offers diversification through advertising and cloud businesses.
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