NVIDIA vs AMD — Operating Expenses Comparison

NVIDIA (NVDA) operating expenses was $23.1B in FY2026 (+41% YoY); AMD (AMD) operating expenses was $13.5B in FY2025 (+24% YoY). The tables below show the complete quarterly and annual operating expenses history, sourced from SEC EDGAR 10-K and 10-Q filings.

Fiscal Year	NVIDIA	AMD
2026	$23.1B	—
2025	$16.4B	$13.5B
2024	$11.3B	$10.8B
2023	$11.1B	$10.1B
2022	$7.4B	$9.3B
2021	$5.9B	$4.3B
2020	$3.9B	$3.0B
2019	$3.4B	$2.2B
2018	$2.6B	$2.0B
2017	$2.1B	$1.7B
2016	$1.9B	$1.4B
2015	$1.8B	$1.6B
2014	$1.8B	$2.0B
2013	$1.6B	$1.9B
2012	$1.4B	$2.3B
2011	$1.2B	$2.6B
2010	$1.3B	$2.1B
2009	$1.2B	$1.6B
2008	$1.0B	$4.3B

NVIDIA — Annual Operating Expenses

Fiscal Year	Operating Expenses	YoY
2026	$23.1B	+41%
2025	$16.4B	+45%
2024	$11.3B	+2%
2023	$11.1B	+50%
2022	$7.4B	+27%
2021	$5.9B	+50%
2020	$3.9B	+16%
2019	$3.4B	+29%
2018	$2.6B	+23%
2017	$2.1B	+10%
2016	$1.9B	+5%
2015	$1.8B	+4%
2014	$1.8B	+12%
2013	$1.6B	+12%
2012	$1.4B	+22%
2011	$1.2B	-10%
2010	$1.3B	+2%
2009	$1.2B	+21%
2008	$1.0B

AMD — Annual Operating Expenses

Fiscal Year	Operating Expenses	YoY
2025	$13.5B	+24%
2024	$10.8B	+8%
2023	$10.1B	+8%
2022	$9.3B	+118%
2021	$4.3B	+44%
2020	$3.0B	+33%
2019	$2.2B	+12%
2018	$2.0B	+20%
2017	$1.7B	+21%
2016	$1.4B	-12%
2015	$1.6B	-22%
2014	$2.0B	+6%
2013	$1.9B	-18%
2012	$2.3B	-11%
2011	$2.6B	+22%
2010	$2.1B	+31%
2009	$1.6B	-62%
2008	$4.3B

Source: NVDA on EDGAR · AMD on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.