Groq vs NVIDIA: Revenue, Profit and Business Model
Groq does not publish annual revenue. NVIDIA reported $215.9B of revenue in FY2026 and $120.1B of net income.
Latest financial snapshot
Financial summary
Groq
Groq is private and does not report revenue or profit. What is public is its funding: a $300 million Series C in 2021, a $640 million Series D in August 2024 at a $2.8 billion valuation led by BlackRock, a $750 million round in September 2025 at a $6.9 billion post-money valuation led by Disruptive, and a $650 million round in June 2026 led by Disruptive and Infinitum at an undisclosed valuation. Separately, Nvidia's December 2025 non-exclusive license was reported at about $20 billion, Nvidia's largest deal to date. Revenue figures circulating online are estimates, not company disclosures.
NVIDIA
NVIDIA's revenue rose from $27.0B in fiscal 2023 to $60.9B in FY2024, $130.5B in FY2025 and $215.9B in FY2026, which ended January 25, 2026. FY2026 net income was $120.1B. Growth sped up again in fiscal 2027: Q1 revenue was $81.6B and Q2 (ended July 26, 2026) was $96.2B, up 106% year over year, with a 75.0% gross margin and $59.7B GAAP net income. Guidance for Q3 FY2027 is $108.0B, plus or minus 2%, and assumes no Data Center compute revenue from China. NVIDIA returned about $26.0B to shareholders in Q2. In May 2026 it raised the quarterly dividend to $0.25 from $0.01, and on September 28, 2026 it added $150B to its buyback authorization.
Revenue and profit by year
Groq
Groq does not publish annual revenue. What is known about its finances is in the summary above.
Full Groq financialsNVIDIA
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $215.9B | $120.1B | 55.6% | +65.5% | Source |
| FY2025 | $130.5B | $72.9B | 55.8% | +114.2% | Source |
| FY2024 | $60.9B | $29.8B | 48.8% | +125.9% | Source |
| FY2023 | $27B | $4.4B | 16.2% | +0.2% | Source |
| FY2022 | $26.9B | $9.8B | 36.2% | +61.4% | Source |
| FY2021 | $16.7B | $4.3B | 26.0% | +52.7% | Source |
| FY2020 | $10.9B | $2.8B | 25.6% | -6.8% | Source |
| FY2019 | $11.7B | $4.1B | 35.3% | +20.6% | Source |
| FY2018 | $9.7B | $3B | 31.4% | +40.6% | Source |
| FY2017 | $6.9B | $1.7B | 24.1% | — | Source |
Where the revenue comes from
Groq
- GroqCloud token usage
Pay-per-token fees from developers and companies running models on GroqCloud.
- Dedicated and on-premises capacity
Enterprise and sovereign contracts for reserved capacity or GroqRack systems.
- Technology licensing
One-time non-exclusive license to Nvidia in December 2025, reported at about $20 billion.
NVIDIA
- Data CenterDominant
GPU accelerators, AI systems, networking, and software for cloud, enterprise, and supercomputing customers.
- GamingMaterial
GeForce GPUs and gaming-platform products for PC gamers, creators, and consumer AI PCs.
- Professional Visualization
Complementary
Workstation GPUs, visualization, simulation, and Omniverse-related products.
- AutomotiveGrowth
Automotive compute, software, and autonomous-driving platforms.
- Software And ServicesGrowth
Enterprise AI software, cloud services, libraries, and platform subscriptions layered on hardware.
Business model and strategy
Groq
How it makes money
Groq makes money by selling AI inference. Most customers pay per million tokens to run open-weight models (such as Llama, Qwen, Kimi and Whisper) through GroqCloud, an OpenAI-compatible API with a free tier and paid developer and enterprise plans. Larger customers buy dedicated capacity or on-premises GroqRack clusters.
Growth strategy
Since the Nvidia deal, Groq's strategy is to grow GroqCloud as a neocloud: add data center capacity across regions, sell dedicated and sovereign capacity to large customers, and run a mix of its own LPUs and Nvidia systems.
Competitive advantage
Groq's edge was speed. Because the LPU keeps model weights in on-chip SRAM and its compiler schedules every operation ahead of time, GroqCloud consistently ranked among the fastest providers in independent token-per-second benchmarks.
NVIDIA
How it makes money
NVIDIA is a fabless chip and systems company: it designs GPUs, CPUs, networking and software, and outsources manufacturing mainly to TSMC. Data Center is the core business, at $193.7B of FY2026 revenue (about 90%) and $89.0B of the $96.2B earned in Q2 FY2027.
Growth strategy
NVIDIA wants to sell the whole AI factory, not just accelerators. It ships a new architecture roughly every year: Blackwell, then Blackwell Ultra, then Vera Rubin, which reached full production in mid-2026. Each rack combines GPUs, Vera CPUs, NVLink, Spectrum-6 switches and BlueField DPUs.
Competitive advantage
NVIDIA's lead comes from three things working together. CUDA has been in use since 2006 and much of the AI software stack is tuned for it. NVIDIA sells full systems that tie compute, NVLink and networking into one rack. Its scale also gets it priority access to TSMC wafers and high-bandwidth memory.
Questions about Groq vs NVIDIA
Which company has higher revenue — Groq, Inc. or NVIDIA Corporation?
NVIDIA Corporation reported $215.9B (FY2026). A verified revenue figure for Groq, Inc. was not available at the time of this comparison.
What is the market cap of Groq, Inc. vs NVIDIA Corporation?
NVIDIA Corporation has a market capitalisation of $5.45T. A public market cap figure for Groq, Inc. was not available (it may be privately held).
Which is more financially efficient — Groq, Inc. or NVIDIA Corporation?
NVIDIA Corporation generates $5.14M / employee in revenue per employee. A comparable figure for Groq, Inc. requires matching employee and revenue data from the same reporting period.
How do Groq, Inc. and NVIDIA Corporation make money?
Groq, Inc. and NVIDIA Corporation generate revenue in fundamentally different ways. Groq, Inc.: Groq makes money by selling AI inference. NVIDIA Corporation: NVIDIA is a fabless chip and systems company: it designs GPUs, CPUs, networking and software, and outsources manufacturing mainly to TSMC.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Groq vs NVIDIA overview