Nvidia spent $18.5 billion on research and development in its 2026 financial year — three times its $6.04 billion of capital expenditure
Nvidia reported these figures in its Form 10-K for the fiscal year ending January 25, 2026. Research and development expenses were $18.5 billion for the year. The cash flow statement lists $6.04 billion of purchases related to property and equipment and intangible assets, which the company describes in the text as about $6.1 billion of capital expenditures, and it says it expects capital expenditures to increase in fiscal 2027.
Verified 2026-08-03
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Nvidia spends far more on designing chips than on factories, because others manufacture its products.
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