Segment Information

12 Months Ended

Nov. 02, 2025

Segment Reporting [Abstract]

Segment Information

Segment Information

Reportable Segments

We have two reportable segments: semiconductor solutions and infrastructure software. Each segment has separate financial information. The CODM considers actual and expected results of regularly provided net revenue and operating income by segment during the budgeting and forecasting processes to support strategic decision-making and to evaluate the performance of and allocate resources to each of the segments. Operating income by segment includes items that are directly attributable to each segment and shared expenses such as marketing, general and administrative activities, facilities and IT expenses. Shared expenses are primarily allocated based on revenue and headcount. The CODM does not evaluate each segment using discrete asset information. The reportable segments are also determined based on several factors including, but not limited to, customer base, homogeneity of products, technology, delivery channels and similar economic characteristics.

Semiconductor solutions. Our semiconductor solutions are used in a wide array of environments, end products and applications such as enterprise and AI data centers, servers and networking and connectivity equipment, as well as storage systems, home connectivity devices, set-top boxes, broadband access, telecommunication equipment, wireless devices and base stations, factory automation, power generation and alternative energy systems, and electronic displays. Our semiconductor solutions segment also includes our IP licensing.

Infrastructure software. Our infrastructure software solutions include revenues from software arrangements, related support, and professional services that help enterprises simplify their IT environments. Our customers rely on our infrastructure and security software solutions to modernize, optimize, and secure the most complex private cloud, hybrid cloud and edge environments. This enables scalability, agility, automation, insights, resiliency and security, making it easy for customers to run their mission-critical workloads. We also offer mission-critical FC SAN products and related software.

Depreciation expense directly attributable to each reportable segment is included in the operating results of each segment. However, the CODM does not evaluate depreciation expense by segment and, therefore, it is not separately presented. Amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, and acquisition-related costs are not used in evaluating the results of, or in allocating resources to, our segments and therefore are not allocated to each segment. There was no inter-segment revenue for any of the periods presented. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

	Fiscal Year
	2025		2024		2023
	(In millions)
Semiconductor solutions:
Net revenue	$	36,858	$	30,096	$	28,182
Cost of revenue	11,740		9,809		8,447
Research and development	3,407		3,140		2,896
Selling, general and administrative	479		388		353
Operating income	$	21,232	$	16,759	$	16,486
Infrastructure software:
Net revenue	$	27,029	$	21,478	$	7,637
Cost of revenue	1,902		2,306		615
Research and development	2,550		2,707		844
Selling, general and administrative	1,812		2,488		539
Operating income	$	20,765	$	13,977	$	5,639
Total:
Net revenue	$	63,887	$	51,574	$	35,819
Cost of revenue	13,642		12,115		9,062
Research and development	5,957		5,847		3,740
Selling, general and administrative	2,291		2,876		892
Unallocated expenses:
Amortization of acquisition-related intangible assets	8,062		9,267		3,247
Stock-based compensation	7,568		5,670		2,171
Restructuring and other charges	667		1,787		248
Acquisition-related costs	216		549		252
Operating income	$	25,484	$	13,463	$	16,207

Geographic Information

Net revenue by country is based primarily on the geographic shipment or delivery location as specified by the distributors, OEMs, contract manufacturers, channel partners, or software customers who purchased our products or services. For the majority of our products, title and control transfer to our customers in Penang, Malaysia. The products are then transported to the customer specific locations. Net revenue from the United States for fiscal years 2025, 2024 and 2023 was $16,506 million, $12,887 million and $6,975 million, respectively. Net revenue from China (including Hong Kong) for fiscal years 2025, 2024 and 2023 was $11,155 million, $10,483 million and $11,533 million, respectively. Net revenue from Singapore for fiscal years 2025, 2024 and 2023 was $10,796 million, $9,559 million and $4,479 million, respectively. Net revenue from Taiwan for fiscal year 2025 was $6,451 million (the amount was less than 10% for fiscal years 2024 and 2023). Net revenue from other foreign countries for fiscal years 2025, 2024 and 2023 was $18,979 million, $18,645 million and $12,832 million, respectively. These geographic delivery locations are not necessarily indicative of the geographic location of our end customers or the country in which our end customers sell devices containing our products. For example, we believe a substantial portion of our products shipped or delivered to China (including Hong Kong) is included in devices sold by our end customers in the United States and Europe.

Long-lived assets include property, plant and equipment and are based on the physical location of the assets.

	November 2, 2025		November 3, 2024
	(In millions)
Long-lived assets:
United States	$	1,697	$	1,685
Taiwan	446		365
Other	387		471
Total long-lived assets	$	2,530	$	2,521

Significant Customer Information

We sell our products through our direct sales force and a select network of distributors and channel partners globally. During fiscal years 2025, 2024 and 2023, one customer accounted for 32%, 28% and 21% of our net revenue, respectively. Revenue from this customer was included in our semiconductor solutions segment. One customer accounted for 44% and 18% of our net accounts receivable balance as of November 2, 2025 and November 3, 2024, respectively.