NVIDIA is much larger by reported company-wide revenue in the latest cited results, while Broadcom has a clearly reported AI-semiconductor revenue figure: $16.7 billion in Q3 FY2026. Those numbers do not establish which company had more AI revenue, because NVIDIA’s cited results report Data Center revenue rather than a standalone AI revenue line. NVIDIA’s latest cited gross margin was 75.0%; the Broadcom margin figure available here is a 67% non-GAAP operating-margin forecast, a different measure. At the October 6, 2026 market close, a Stock Analysis snapshot put Broadcom’s forward P/E somewhat higher than NVIDIA’s.
Can you compare NVIDIA and Broadcom’s AI revenue directly?
Not from these reported figures. Broadcom explicitly reported AI semiconductor revenue; NVIDIA’s cited releases report Data Center revenue but do not provide a standalone AI revenue figure. Data Center revenue should not be relabeled as AI revenue, and the two companies’ reported categories are not standardized equivalents.
The latest cited figures also cover different fiscal periods: NVIDIA’s Q2 FY2027 results were released August 26, 2026, while Broadcom’s Q3 FY2026 results were released September 2, 2026. Broadcom’s quarter ended August 2, 2026. The available figures do not establish the end date for NVIDIA’s Q2 FY2027 period.
| Company and period | Reported figure | What it represents |
|---|---|---|
| NVIDIA, Q2 FY2027 | $96.2 billion revenue | Company-wide revenue; not a standalone AI revenue figure |
| Broadcom, Q3 FY2026 | $16.7 billion AI semiconductor revenue, up 221% year over year | Company-reported AI semiconductor category |
| Broadcom, Q3 FY2026 | $29.6 billion revenue | Company-wide revenue |
These are useful measures of scale and reported growth, but they answer different questions. Broadcom’s $16.7 billion figure is an AI semiconductor category, whereas its $29.6 billion figure includes the company’s broader business. NVIDIA’s $96.2 billion is also company-wide. The available data therefore support a comparison of company-wide revenue and a separate look at Broadcom’s AI semiconductor growth—not a like-for-like ranking of AI revenue.
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How do revenue scale and growth compare?
NVIDIA: company-wide scale and annual results
NVIDIA reported $96.2 billion in company-wide revenue and a 75.0% gross margin for Q2 FY2027 (NVIDIA, 2026). Its FY2026 annual filing reported $215.9 billion in revenue, a 71.1% gross margin, and $130.4 billion in operating income. NVIDIA FY2026 ended January 25, 2026. The annual and quarterly figures describe different periods and should not be treated as interchangeable growth rates.
Broadcom: a separately identified AI semiconductor line
Broadcom reported $16.7 billion of AI semiconductor revenue in Q3 FY2026, up 221% year over year, alongside $29.6 billion in consolidated revenue (Broadcom, 2026). The 221% comparison is year over year for Broadcom’s reported AI semiconductor revenue; it is not a comparison with NVIDIA’s Data Center revenue or total revenue.
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Broadcom combines semiconductor and infrastructure software businesses. That mix matters when interpreting company-wide revenue and margins: consolidated results reflect more than AI semiconductors alone. NVIDIA’s cited company-wide results also include multiple segments, so total-company figures do not isolate AI activity for either issuer.
Which company has stronger margins?
NVIDIA’s cited figures include reported gross margins: 75.0% for Q2 FY2027 and 71.1% for FY2026. Gross margin measures revenue remaining after cost of revenue, before operating expenses. The quarterly and annual percentages cover different periods.
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Broadcom’s cited Q2 FY2026 release gave guidance for a 67% non-GAAP operating margin in Q3 FY2026. That was a forecast, not the subsequent reported Q3 result, and it is operating margin rather than gross margin. Operating margin reflects operating expenses as well as the cost of revenue; “non-GAAP” also means the company’s adjusted measure rather than its GAAP measure. It is not valid to compare that 67% guidance directly with NVIDIA’s reported gross margins and call the larger percentage the more profitable company.
Broadcom’s Q2 FY2026 release also forecast Q3 consolidated revenue of $29.4 billion. Broadcom later reported $29.6 billion in Q3 consolidated revenue. Keeping forecast and actual figures distinct avoids treating guidance as a result.
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What do the valuation figures say?
Stock Analysis market-data snapshots show the following figures as of the October 6, 2026 close. Forward P/E uses estimated future earnings, so it can change as share prices or earnings estimates change, and providers may calculate it differently.
| Company | Market capitalization at October 6, 2026 close | Forward P/E at October 6, 2026 close |
|---|---|---|
| NVIDIA | $5.78 trillion | 19.78 |
| Broadcom | $1.79 trillion | 21.69 |
In that snapshot, Broadcom’s forward P/E was higher, while NVIDIA’s market capitalization was larger. Neither observation alone establishes which stock is cheaper or the better investment. A forward multiple depends on forecasts as well as price, so it is most useful alongside the company’s expected earnings, growth, business mix, and the uncertainty in those estimates. The cited figures are secondary market-data snapshots, not a company-reported valuation metric.
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How should an investor use this comparison?
- For reported AI-category growth: Broadcom provides a distinct AI semiconductor revenue figure and its year-over-year change. The cited NVIDIA figures do not provide a matching standalone AI line.
- For company-wide scale: Compare revenue only when the periods and scope are clear. The cited NVIDIA Q2 FY2027 and Broadcom Q3 FY2026 results are from different fiscal quarters.
- For margins: Match the same kind of measure and basis—gross with gross, or operating with operating, and GAAP with GAAP or non-GAAP with non-GAAP. The available Broadcom operating-margin figure is guidance, not a reported gross-margin result.
- For valuation: Treat forward P/E as an estimate-dependent snapshot, not a verdict. Changes in share price, earnings forecasts, or data-provider methodology can alter the comparison.
Revenue growth, margins, and valuation do not by themselves determine whether either stock suits an investor. These figures do not provide a price target, a forecast of future returns, or a recommendation to buy or sell.
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