Nvidia Vs. AMD: No, Neither is Getting Choked Out By Congress Come January Alex Sirois Wed, November 11, 2026 at 12:45 PM EST 4 min read NVDA +4.85% AMD +9.56% ANTH.PVT META -0.13% MSFT -2.17% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
NVIDIA doubled revenue to $96 billion while AMD's data center sales jumped 97%, so tougher export oversight would mostly slow foreign growth.
Anthropic, Meta, Microsoft, OpenAI and Oracle brought AMD's first Helios racks online, even as free cash flow fell 71% on inventory buildup.
NVIDIA already stripped China from its outlook, leaving new rules less to take away, while AMD lists export regulations among its risks.
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Two chipmakers just reported record AI quarters: NVIDIA (NASDAQ:NVDA) and AMD (NASDAQ:AMD). Both also face a Washington that wants to control where advanced chips go. Today, Democratic Senate Leader Schumer called the White House defense of NVIDIA CEO Jensen Huang "troubling." The earnings suggest a tougher Congress can limit foreign growth while both core businesses keep growing.
NVIDIA reported revenue of $96.22B, up 105.8% year over year. Revenue doubled at a scale no other chipmaker has reached. Data Center networking rose 138%, which shows customers are buying complete AI factories. Vera Rubin production shipments began in August, and Huang summed it up simply: "Now, compute is revenue."
AMD's revenue of $13.38B beat the $13.08B consensus, and Data Center sales of $8.55B rose 97%. That segment now makes up 64% of revenue, so AMD's results depend more and more on AI infrastructure (the same expansion is lifting suppliers of power, cooling and networking gear we profiled in a free report, here). Anthropic, Meta Platforms (NASDAQ:META), Microsoft (NASDAQ:MSFT), OpenAI and Oracle (NYSE:ORCL) brought their first Helios racks online. Gaming fell 40% late in the console cycle, a drag that looks cyclical.
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NVIDIA has invested nearly $50 billion in frontier AI labs. It also provides take-or-pay commitments that set a revenue floor for NeoCloud facilities. Huang acknowledged that critics call this circular financing. I think the model is smart, but I want more disclosure on who takes the credit risk.
AMD competes on total cost of ownership, and it paired Helios with ROCm 10 to narrow the software gap. Lisa Su cited "very strong performance with the initial deployments." That push is costing cash. Free cash flow fell 71% to $554M as inventory reached $11.46B. AMD is building ahead of demand that it says tops supply.
NVIDIA's outlook already left out China Data Center compute. China Hopper shipments were
