Who does it compete with for the same buyer, and how do they differ?
Arista's share of the datacenter switching segment is close to NVIDIA's, placing the two in direct competition for data center buyers. In 1Q26, Arista's Ethernet switch revenue grew 37.3% year over year to $2.2 billion, with 92% of that revenue in the datacenter segment, giving Arista a 20.7% share of that segment. NVIDIA's Ethernet switch revenue grew 192.7% year over year in 1Q26 to $2.1 billion, a 21.5% share of the datacenter segment.
In Ethernet AI back-end switch sales, Celestica led, NVIDIA followed, Arista ranked third, and Cisco ranked fourth.
2Memo
What is the investment case, and what must be true for it to hold?
Arista Networks is positioned to grow its data center switching operations alongside rising revenue, contingent on supply remaining available, as its Ethernet switch revenue climbed 37.3% year over year in 1Q26 to $2.2 billion, 92% of which came from the datacenter segment, while the data center switch market is forecast to stay supply-constrained for at least the next one-to-two years.
NVIDIA's Ethernet switch revenue surged 192.7% year over year, reaching $2.1 billion in 1Q26, and it held a 21.5% share of the datacenter segment.
