Nvidia CEO says national security takes priority over commercial opportunities
Jensen Huang's declaration at Nvidia's shareholder meeting comes amid Senate scrutiny over chip exports to China and reports of Chinese military procurement efforts.
+65.5% (FY ended 2026-01-25 vs FY ended 2025-01-26) 10-K
Annual net income
120,067,000,000 USD (FY ended 2026-01-25, attributable to the company) 10-K
Annual operating margin
60.4% (FY ended 2026-01-25)
Forward P/E
Unavailable: no dated forecast source
Gloria daily close for session Oct 28, 2026. Market cap and trailing P/E use this close with the SEC share total and trailing diluted earnings, each dated next to its figure. Annual revenue, revenue growth, net income and margin show their own fiscal period and link the 10-K. Current context may postdate this article.
4,335,000,000FY ended 2025-12-27, attributable to the company · 10-K
10.7%FY ended 2025-12-27
Missing figures stay unavailable. Forward P/E requires a dated source. Annual revenue, revenue growth, net income and margin come from each company's own 10-K, in US dollars, and each row shows that fiscal year. Revenue growth compares the fiscal year with the prior year stated in the same 10-K. Net income is the full year amount attributable to the company, or available to common stockholders where the filing states only that, or consolidated net income. Each row names its basis. Trailing P/E reads "Not meaningful" when the dated trailing diluted EPS is a loss or zero. An operating margin appears only when the filing states both the operating income and the revenue for the same year.
Sources: SEC filings, Gloria daily closes and CoinGecko. Oldest record refresh: Oct 28, 2026, 5:46 PM EDT. Refresh is not a price or filing date. Each row shows its price date and its annual fiscal period. Peers use industry code and company size, or editorial selection. Market cap multiplies that row price by the company share total the latest SEC filing states for every share class together. Trailing P/E divides it by trailing diluted earnings from SEC filings. Rolled earnings per share are approximate because share counts can change between periods. Both appear only when the SEC data carries its date, so they are estimates at one price date, not synchronized filing valuations. Not investment advice.
Token vs underlying stock
Current comparison for NVDA. Historical observations may postdate this article.
Split-adjusted regular-session stock closes from the existing Gloria shared history, paired only with an observed token price within 45 minutes of 16:00 New York time. Up to 60 matched sessions. No interpolation or missing-date fill. Weekends and known early closes are omitted. Token units are not adjusted for issuer multipliers or dividend treatment. This compares quoted prices, not fair value, executable premiums or arbitrage returns. Solid line: token. Dashed line: stock. Exact quote times and values appear below. Historical observations. Retrieval refers to the token source. Token quote times use UTC. The fixed cohort shows its oldest member fetch.
Nvidia token vs Nvidia stock: exact source values
Date (UTC)
Token (USD)
Stock close (USD)
Token quote (UTC)
2026-08-05
219.87
219.22
2026-08-05 20:00
2026-08-06
219.15
218.99
2026-08-06 20:00
2026-08-07
223.93
223.96
2026-08-07 20:00
2026-08-10
217.66
217.55
2026-08-10 20:00
2026-08-11
217.53
217.50
2026-08-11 20:00
2026-08-12
224.12
224.09
2026-08-12 20:00
2026-08-13
225.42
225.30
2026-08-13 20:00
2026-08-14
225.34
225.16
2026-08-14 20:00
2026-08-17
225.13
225.01
2026-08-17 20:00
2026-08-18
219.70
219.74
2026-08-18 20:00
2026-08-19
217.76
217.56
2026-08-19 20:00
2026-08-20
216.79
216.85
2026-08-20 20:00
2026-08-21
214.85
214.72
2026-08-21 20:00
2026-08-24
208.75
208.48
2026-08-24 20:00
2026-08-25
213.16
213.05
2026-08-25 20:00
2026-08-26
210.06
209.66
2026-08-26 20:00
2026-08-27
227.96
227.98
2026-08-27 20:00
2026-08-28
217.74
217.55
2026-08-28 20:00
2026-08-31
220.91
220.78
2026-08-31 20:00
2026-09-01
217.58
217.44
2026-09-01 20:00
2026-09-02
224.46
224.41
2026-09-02 20:00
2026-09-03
228.90
228.45
2026-09-03 20:00
2026-09-04
230.35
230.36
2026-09-04 20:00
2026-09-08
225.69
225.73
2026-09-08 20:00
2026-09-09
223.89
223.67
2026-09-09 20:00
2026-09-10
218.70
218.36
2026-09-10 20:00
2026-09-11
218.92
218.29
2026-09-11 20:00
2026-09-14
211.47
210.96
2026-09-14 20:00
2026-09-15
212.34
212.17
2026-09-15 20:00
2026-09-16
214.25
213.90
2026-09-16 20:00
2026-09-17
219.68
219.34
2026-09-17 20:00
2026-09-18
222.24
222.27
2026-09-18 20:00
2026-09-21
227.69
227.38
2026-09-21 20:00
2026-09-22
229.20
228.87
2026-09-22 20:00
2026-09-23
225.44
225.51
2026-09-23 20:00
2026-09-24
224.87
224.58
2026-09-24 20:00
2026-09-25
225.29
225.07
2026-09-25 20:00
2026-09-28
228.97
228.86
2026-09-28 20:00
2026-09-29
227.95
227.21
2026-09-29 20:00
2026-09-30
229.85
228.38
2026-09-30 20:00
2026-10-01
231.18
230.86
2026-10-01 20:00
2026-10-02
234.38
233.95
2026-10-02 20:00
2026-10-05
239.30
238.90
2026-10-05 20:00
2026-10-06
239.71
239.24
2026-10-06 20:00
2026-10-07
237.80
237.47
2026-10-07 20:00
2026-10-08
230.81
230.48
2026-10-08 20:00
2026-10-09
229.70
229.28
2026-10-09 20:00
2026-10-12
226.87
226.32
2026-10-12 20:00
2026-10-13
228.73
228.52
2026-10-13 20:00
2026-10-14
221.56
221.30
2026-10-14 20:00
2026-10-15
217.48
217.23
2026-10-15 20:00
2026-10-16
214.56
214.13
2026-10-16 20:00
2026-10-19
217.41
217.09
2026-10-19 20:00
2026-10-20
216.69
216.47
2026-10-20 20:00
2026-10-21
222.20
221.97
2026-10-21 20:00
2026-10-22
212.42
212.21
2026-10-22 20:00
2026-10-23
211.27
210.96
2026-10-23 20:00
2026-10-26
216.15
216.00
2026-10-26 20:00
2026-10-27
218.06
217.94
2026-10-27 20:00
2026-10-28
215.40
215.38
2026-10-28 20:00
Stock history: Gloria · Retrieved Oct 29, 00:31 UTC. Token history: CoinGecko NVDAx.
Quoted token and share units can have different rights, multipliers and dividend treatment. This is not an executable premium or arbitrage signal.
Jensen Huang stood before Nvidia shareholders on June 24 and said the quiet part out loud: “National security comes first.”
It’s a notable admission from the CEO of a company that has spent months lobbying Washington to let it sell advanced AI chips to China. The statement, made during a Q&A session at Nvidia’s annual shareholder meeting, captures the impossible tightrope the world’s most valuable chipmaker is walking between its balance sheet and its government.
The Senate wants answers
Huang’s declaration didn’t happen in a vacuum. It came weeks after a very public chain of events that put Nvidia’s China business under a microscope.
On June 1, a report surfaced detailing Chinese military efforts to procure Nvidia chips. That’s a problem when your CEO has previously claimed the Chinese military doesn’t depend on your hardware.
Senator Elizabeth Warren noticed. On June 4, she invited Huang to testify before the Senate Banking Committee regarding Nvidia’s sales to China and the potential military applications of its chips. A week later, on June 11, Huang appeared before the committee.
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The timeline tells a story: military procurement report, Senate invitation, testimony, then a shareholder meeting where the CEO suddenly leads with national security talking points.
Nvidia has been aggressively lobbying the US government for months to secure approvals for selling advanced AI chips to China. But the framing has shifted from “let us sell” to “we’ll sell responsibly, and only if Washington says it’s okay.”
What this means for Nvidia’s China revenue
China has historically been one of Nvidia’s most lucrative markets. But US export restrictions have been tightening in waves, each round cutting deeper into what Nvidia can actually ship across the Pacific.
Huang has been consistent in one argument throughout June: he wants export controls that are “clear and specific” rather than broad and ambiguous. In a series of media interviews during the month, he’s advocated for targeted restrictions rather than blanket bans. The logic is straightforward. Overly broad restrictions, Nvidia argues, don’t just hurt its revenue. They push Chinese companies to develop their own alternatives faster, potentially making US chips irrelevant in that market entirely.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
