On February 26, according to "Business Insider", Nvidia released its annual report for fiscal year 2026 on Wednesday.Compared with fiscal year 2025, Nvidia's latest annual report is more streamlined, deleting topics that US President Trump does not like, and focusing on the impact of export controls on the Chinese market.
Nvidia CEO Jensen Huang
Compared with last year,Nvidia cut chapters on climate change and diversity, equity and inclusion (DEI).Nvidia's fiscal year 2025 annual report had a section called "Sustainability and Governance" detailing clean energy and emission reduction commitments, but these contents have disappeared from the fiscal year 2026 annual report released on Wednesday. Although this year's report mentions sustainable development, it is only expressed from the perspective of business sustainability or compliance with sustainability-related regulations.
Nvidia wrote in last year's annual report: "These topics are critical to our continued business success and reflect the areas of greatest concern to Nvidia and its stakeholders."
Second, the chapter on human capital has been significantly cut. In its annual report for fiscal year 2025, NVIDIA had subtitles such as "Salary, Benefits and Wellbeing" and "NVIDIA's Diversity, Inclusion and Sense of Belonging". Neither section appeared this year, nor was the word “diversity” mentioned.
This year’s work on diversity, equity and inclusion can be summed up in just one sentence:“We also utilize employee feedback systems to gather input and maintain an inclusive culture where hiring and promotions are based on employees’ actual performance.”
Last year, President Trump signed an executive order aimed at ending diversity programs within the federal government, suspending all federal staff responsible for DEI and disbanding their departments.
The move caused considerable repercussions in the private sector. Technology companies such as Microsoft, Meta and Salesforce have cut back on their DEI projects. However, some companies have publicly defended their diversity initiatives, including Costco.
Focus on China
Nvidia's latest annual report is shorter than last year's. Despite this, the number of references to China in the report has increased.
In addition to restating the chip export restrictions imposed by the U.S. government on China, Nvidia wrote in the report,Under current regulations, the company is unable to provide competitive products to the Chinese data center market.It added that this allowed its competitors to build a larger customer base globally.
"Our missed business opportunities and the resulting benefits to our competitors will have a material adverse effect on our business, results of operations and financial condition." Nvidia said.
NVIDIA released its fourth quarter and full-year financial report for fiscal year 2026 on Wednesday. Its performance outlook for the first quarter of fiscal year 2027 does not include data center chip sales revenue from China.