Nvidia beats AMD: $215.9 billion revenue seals the pick

The comparison rests on two very different businesses. AMD designs high-performance computing products for data centers and gaming consoles, and its AI presence is growing through an MI450 GPU deal with OpenAI and chips for Microsoft. Nvidia, by contrast, provides accelerated computing platforms used by major cloud service providers and AI model developers, and also has an automotive arm through its DRIVE platform.

The financial gap is stark. AMD's fiscal year ended Dec. 27, 2025 brought nearly $34.6 billion in revenue, roughly 34.3% growth, with net income of about $4.3 billion and a net margin near 12.5%. Nvidia's fiscal year ended Jan. 25, 2026 brought approximately $215.9 billion in revenue, up 65.5%, with net income of roughly $120.1 billion and a net margin close to 55.6%.

Both face regulatory and competitive pressures. AMD contends with Intel and Nvidia, relies on TSMC for manufacturing, and has absorbed inventory charges tied to U.S. export controls on advanced chips to China, plus ongoing securities litigation. Nvidia is also exposed to tightening export controls that have restricted its China data center sales, and faces in-house AI chip efforts from Amazon, Microsoft, and Alphabet, along with antitrust scrutiny. The writer's call appears to hinge on whether Nvidia's data center demand keeps accelerating rather than plateauing, and whether AMD's cheaper price point and improving margins can close a scale gap the writer describes as enormous and widening.