Nvidia Says Three Customers Accounted for 44% of First-Half Sales

Nvidia's disclosed filings show that its sales have become increasingly dependent on a small number of customers. In the first half of the current fiscal year, through July 2026, three customers together accounted for 44% of its total sales. In the prior fiscal year, two customers together accounted for 36% of its total sales. In fiscal 2023, no Nvidia customer accounted for 10% or more of its sales.

The figures come from Nvidia's own disclosures, which list the number of customers representing more than 10% of its sales and their combined share of sales. Nvidia Chief Executive Jensen Huang has invested in several new cloud and artificial intelligence companies in order to develop new customers.