[News] NVIDIA without Huang: New Tests Ahead as AMD Eyes Gains, TSMC Finds a Cushion and Memory Giants Weigh Risks

What happened

According to Reuters and other reports, NVIDIA CEO Jensen Huang's departure amid controversy over alleged extramarital affairs has sent shockwaves through the industry; the report notes the bigger concern may not be NVIDIA's technology roadmap (largely mapped out for years ahead) but its ability to execute without Huang. CFO Colette Kress's appointment as interim CEO may reflect a preference for continuity and financial discipline; TechNews notes the trade-off could be a sharper focus on financial metrics at the expense of bold innovation, citing Intel's 2018 example when former CFO Bob Swan took over as CEO. US President Donald Trump has publicly pitched former Apple CEO Tim Cook as Huang's replacement; analyst Ming-Chi Kuo argued cost management could be where Cook's strengths would matter most. NVIDIA is set to report earnings and provide its business outlook on the 17th. Key risks to watch: a potential slowdown in capacity expansion (Taiwanese suppliers may reassess expansion plans involving TSMC's advanced processes and CoWoS packaging and the broader server supply chain), how transitions between GPU platforms could affect end-market demand, and the possibility of tighter US AI chip export controls (further restrictions on high-end chips reaching China through third countries could weigh on part of NVIDIA's market demand and complicate shipment plans — a possibility, not an implemented measure). TrendForce notes it has yet to observe any significant order cuts across the supply chain, but had already expected AMD-based AI servers and CSPs' in-house ASIC solutions (particularly North American providers such as Google) to erode NVIDIA's market share in 2027, projecting AMD's share to reach around 10% and ASIC-based servers approximately 30%, and expects AMD- and ASIC-based AI servers to gain share even faster amid current headwinds and geopolitical uncertainties. The Economic Daily News adds that TSMC may better weather any NVIDIA order cuts triggered by export controls thanks to demand from AMD, Google, Broadcom and other customers, but a broader pullback in global AI capital spending would inevitably hit the foundry and its supply chain. On HBM: Samsung Electronics and SK hynix supply HBM for NVIDIA's AI accelerators (NVIDIA is the largest customer of both), and the Vera Rubin platform, launched in the second half of this year, uses sixth-generation HBM4; industry observers say the near-term impact is expected to be limited because both suppliers have signed long-term supply agreements (LTAs), NVIDIA still needs steady HBM3E and HBM4 volumes, and few alternative suppliers exist in the short run. The real uncertainty lies in NVIDIA's roadmap from 2027 onward: if new management alters product schedules or production plans, additional HBM orders could fall and existing LTAs could be revised; if NVIDIA moves to lower procurement costs, SK hynix could face pressure on follow-on orders and next-generation HBM pricing, while Samsung could gain if NVIDIA diversifies suppliers.

Impact and signal

Affected components and suppliers

Source and time

Source: TrendForce · 11/12/2026 · View original source