Balance Sheet Components (Tables)

12 Months Ended

Jan. 25, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventory

Certain balance sheet components are as follows:

	Jan 25, 2026		Jan 26, 2025
Inventories:	(In millions)
Raw materials	$	3,807	$	3,408
Work in process	8,822		3,399
Finished goods	8,774		3,273
Total inventories (1)	$	21,403	$	10,080

(1)    In fiscal years 2026 and 2025, we recorded inventory provisions of $4.0 billion and $1.6 billion, respectively, in cost of revenue.

Schedule of Property and Equipment

	Jan 25, 2026		Jan 26, 2025		Estimated Useful Life
Property and Equipment:	(In millions)				(In years)
Land	$	777	$	511	(A)
Buildings, leasehold improvements, and furniture	2,891		2,076		(B)
Equipment, compute hardware, and software	12,619		7,568		2-7
Construction in process	683		529		(C)
Total property and equipment, gross	16,970		10,684
Accumulated depreciation and amortization	(6,587)		(4,401)
Total property and equipment, net	$	10,383	$	6,283

(A)Land is a non-depreciable asset.

(B)The estimated useful lives of our buildings are up to thirty years. Leasehold improvements and finance leases are amortized based on the lesser of either the asset’s estimated useful life or the expected remaining lease term.

(C)Construction in process represents assets that are not available for their intended use.

Schedule of Accrued and Other Current Liabilities

	Jan 25, 2026		Jan 26, 2025
Accrued and Other Current Liabilities:	(In millions)
Customer program accruals	$	5,318	$	4,880
Accrued purchase consideration	3,921		9
Product warranty	2,807		1,290
Excess inventory purchase obligations (1)	2,739		2,095
Taxes payable	2,669		881
Deferred revenue (2)	1,379		837
Accrued payroll and related expenses	1,146		848
Other	1,373		897
Total accrued and other current liabilities	$	21,352	$	11,737

In fiscal years 2026 and 2025, we recorded an expense of approximately $3.2 billion and $2.0 billion, respectively, in cost of revenue.Includes customer advances and unearned revenue related to hardware and software support, cloud services, and license and development arrangements. The balance as of January 25, 2026 and January 26, 2025 included $160 million and $81 million of customer advances, respectively.

Schedule of Other Long-term Liabilities

	Jan 25, 2026		Jan 26, 2025
Other Long-Term Liabilities:	(In millions)
Income tax payable (1)	$	3,958	$	2,188
Deferred income tax	1,774		886
Deferred revenue (2)	1,193		976
Other	381		195
Total other long-term liabilities	$	7,306	$	4,245

(1)Primarily comprised of unrecognized tax benefits and related interest and penalties.

(2)Includes unearned revenue related to hardware and software support and cloud services.

Schedule of Changes in Deferred Revenue

The following table shows the changes in short- and long-term deferred revenue during fiscal years 2026 and 2025:

	Jan 25, 2026		Jan 26, 2025
	(In millions)
Balance at beginning of period	$	1,813	$	1,337
Deferred revenue additions (1)	11,137		5,083
Revenue recognized (2)	(10,378)		(4,607)
Balance at end of period	$	2,572	$	1,813

(1)    Includes $9.0 billion and $3.6 billion of customer advances for fiscal years 2026 and 2025, respectively.

(2)    Includes $8.9 billion and $3.7 billion related to customer advances for fiscal years 2026 and 2025, respectively.