NVIDIA vs Microsoft — Operating Expenses Comparison

NVIDIA (NVDA) operating expenses was $23.1B in FY2026 (+41% YoY); Microsoft (MSFT) operating expenses was $65.4B in FY2025 (+6% 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	Microsoft
2026	$23.1B	—
2025	$16.4B	$65.4B
2024	$11.3B	$61.6B
2023	$11.1B	$57.5B
2022	$7.4B	$52.2B
2021	$5.9B	$45.9B
2020	$3.9B	$44.0B
2019	$3.4B	$40.0B
2018	$2.6B	$36.9B
2017	$2.1B	$33.0B
2016	$1.9B	$26.0B
2015	$1.8B	$40.3B
2014	$1.8B	$32.0B
2013	$1.6B	$30.7B
2012	$1.4B	$34.4B
2011	$1.2B	$27.2B
2010	$1.3B	$26.0B
2009	$1.2B	$25.9B
2008	$1.0B	$26.6B

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

Microsoft — Annual Operating Expenses

Fiscal Year	Operating Expenses	YoY
2025	$65.4B	+6%
2024	$61.6B	+7%
2023	$57.5B	+10%
2022	$52.2B	+14%
2021	$45.9B	+4%
2020	$44.0B	+10%
2019	$40.0B	+8%
2018	$36.9B	+12%
2017	$33.0B	+27%
2016	$26.0B	-36%
2015	$40.3B	+26%
2014	$32.0B	+4%
2013	$30.7B	-11%
2012	$34.4B	+27%
2011	$27.2B	+5%
2010	$26.0B	+0%
2009	$25.9B	-2%
2008	$26.6B

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