Nvidia’s $15.6 billion in customer advances show demand, and a growing financing tab

Nvidia’s customers are paying for GPUs before they even arrive. In the first half of fiscal 2027, which ended July 26, 2026, the chipmaker recorded $15.6 billion in customer advances, up from $7.5 billion in the same stretch a year earlier. Nvidia is also extending more credit, carrying bigger receivables, and backstopping a massive data-center project for an OpenAI affiliate. The prepayment boom, by the numbers Of the $15.6 billion in advances, Nvidia recognized $13.0 billion as revenue during the period. The prepayments cover hardware, software support and other arrangements tied to large data-center buildouts. Nvidia’s supply and commitment backlog reached $279 billion as of July 26, 2026, compared with $119 billion one quarter earlier. Most of that is expected to land between fiscal 2027 and fiscal 2029. The other side of the ledger Accounts receivable climbed to $63.1 billion. Days Sales Outstanding, which measures how long it takes to collect after a sale, stretched to roughly 60 days from 45 days. Nvidia has started offering investment-grade customers extended payment terms of 90 days to one year on large data-center purchases. Five direct customers accounted for 70% of the ...