For the past two years, the narrative around inflated GPU and RAM prices has been the insatiable AI demand eating up wafer at TSMC and every module on Earth must go to AI data centers. However, the narrative is cracking ever since reports of channel stuffing and over commitments came out.

Now with Nvidia’s former CEO Jensen Huang gone, more details are out that corroborate our earlier reports on inflated demand on AI. According to Wall Street Journal, Huang admitted in August that major cloud providers are moving away from Nvidia in favor of in-house chips, leaving Nvidia staring down a massive oversupply of prepaid TSMC silicon and memory that was “coming at him like an ‘avalanche'”.

The WSJ report details a heated clash in August 2026 between Huang and Nvidia’s longtime Chief Financial Officer, Colette Kress, the executive who has now taken over as Nvidia’s interim CEO.