The embodiments of this application provide a graph data processing method and apparatus, a computer device, a storage medium, and a computer program product. This application falls within the field of computer technology and is applicable to various scenarios such as cloud technology, artificial intelligence, and intelligent transportation. The method includes: acquiring, based on object data, a target graph; and performing, based on the M nodes and oriented edges between the M nodes, multiple iterations to obtain initiation embedding features and reception embedding features corresponding to the M nodes, a z th iteration including the following steps: acquiring N nodes from the M nodes; determining, based on oriented edges associated with the N nodes, a plurality of first neighborhood nodes of the N nodes and a plurality of second neighborhood nodes of the N nodes; and determining, based on first embedding features of the N nodes, second embedding features of the plurality of first neighborhood nodes, and third embedding features of the plurality of second neighborhood nodes, fourth embedding features of the N nodes.