AMD and Nvidia revenue by country and geography
Nvidia and AMD revenue by country and geography over time
Both Nvidia and AMD have seen their respective revenues jump in recent years, but the countries where their sales have come from have diverged. Here’s how their revenue breaks down by country over time:
United States
- Nvidia’s share of revenue from the U.S. rose from less than 15% through 2019 and 2022 to 47% – about $21 billion – in the first quarter of 2025.
- AMD increased its share of sales revenue from the U.S. from 26% in 2019 to 34%, roughly $8.7 billion, in 2024.
- U.S. reliance can provide chipmakers with stability but can increase dependence on domestic demand cycles.
China
- Nvidia’s share of revenue from China fell from around 25% through much of 2019 to 2022 to 6% in Q2 2025, hit by AI chip export controls and Chinese hesitancy in purchasing Nvidia chips.
- AMD’s share of revenue from China has held steady at around 25%, suggesting it's less sensitive to export controls than Nvidia is.
- China exposure offers growth potential but carries geopolitical and regulatory risk.
Taiwan
- Nvidia’s share of revenue from Taiwan dropped from more than 30% through much of 2019 to 2022 to 19% in the second quarter of 2025.
- AMD’s share of revenue from Taiwan has held steady between 8% and 13% since 2019.
- Shifts in revenue share from Taiwan might reflect supply chain diversification or changes in customer mix.
Singapore
- Singapore is a key and growing market for both companies, with revenue share growing from 9% to 14% for AMD since 2019 and 11% to 23% for Nvidia from the first quarter of 2023 to the second quarter of 2025.
- Growing revenue share for Singapore reflects its role as a semiconductor trade and logistics hub for the Asia-Pacific region.
Why investors need to know where Nvidia and AMD earn their revenue
Where a chipmaker makes its money can be almost as important as how much it earns. Nvidia’s and AMD’s geographic revenue split tells two stories of growth and risk in a time of shifting trade policies.
Nvidia’s rising U.S. concentration and falling China exposure contrast with AMD’s steady balance. That underscores the importance of tracking geopolitical and regulatory developments amid heightened trade uncertainty and supply chain shifts.
Investors should keep in mind not just financials and technological edge when thinking about which chipmaker to invest in but also geographic exposure and revenue risk. Consider diversifying across multiple chipmakers.
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