Without Huang Renxun, the Dharma teaching conference will be held on the 17th. Huida may not be able to escape 7 major tortures.

Huida will announce its third quarter financial report for fiscal year 2027 after the U.S. stock market closes on the 17th Eastern Time (approximately early morning on the 18th Taipei time). With founder Huang Jen-Hsun lightning, national security suspicions involving China and chip export control disputes continue to spread. The market focus is not only whether revenue can hit new highs, but also legal investigations, corporate governance, AI demand and future growth prospects. Seven acute issues have become the focus of this legal meeting.

1. Can Huida maintain its dominance in AI?

Huida recently announced that Jen-Hsun Huang has resigned as CEO and director, with Chief Financial Officer Colette Kress acting as CEO on an interim basis. This major personnel change has drawn attention to Huida's succession arrangements and operational stability.

Huang Renxun has long led Huida’s product strategy, AI technology development and global customer relations. Now that this soul figure is missing, the outside world will pay attention to whether the new management team can continue Huida's leading position in the AI ​​chip market, and whether important customers, supply chain and product development will be affected.

2. How will the legal and national security suspicions end?

The controversy caused by Huang Renxun's departure has made this financial reporting law more sensitive. Foreign media reported that Jen-Hsun Huang had a personal relationship with Huang Le, a woman suspected by U.S. officials of having a Chinese intelligence background. Relevant news triggered concern in the U.S. political circles about Huida's information security and corporate governance.

Huida's board of directors has previously launched an independent investigation to review relevant national security risks. The outside world will pay attention to the progress of the investigation, corporate governance mechanisms, and how the new management team handles possible legal and regulatory issues.

However, the relevant accusations still need to be clarified, and the investigation or intelligence concerns cannot currently be directly regarded as evidence that Huang Renxun violated the law.

3. Will Huida face strict export controls?

The United States’ export control of AI chips from China is another major uncertainty for Huida.

Reuters reported on the 13th that there were more than 150 procurement announcements, investment plans and engineering documents in China, involving computing projects with a total value of more than 3.2 billion US dollars, using or planning to use Huida chips subject to US restrictions.

On the other hand, the U.S. Congress continues to discuss strengthening export supervision of advanced AI chips, including tracking the flow of chips, reviewing export licenses, and restricting Chinese companies from obtaining U.S. AI computing power through overseas data centers. The outside world will pay attention to whether Huida faces more stringent compliance requirements and whether the U.S.-China technology rivalry further affects the company's business.

4. Can Q3 revenue meet market expectations?

Huida previously estimated third-quarter revenue of approximately US$108 billion, and the market consensus estimate was approximately US$109.3 billion, with the data center business still being the most important growth engine.

As demand for AI chips continues to be strong, investors are not only concerned about whether revenue is better than expected, but also about the extent of the excess and the outlook for the next quarter. If Huida fails to provide strong enough guidance for future growth despite delivering impressive results, it may still cause market disappointment.

5. How long can the AI ​​investment boom last?

Technology giants such as Microsoft, Google, Amazon and Meta continue to expand AI data centers, driving the rapid growth of Huida GPU demand. As the amount of investment in AI infrastructure continues to rise, the outside world has begun to pay attention to whether huge capital expenditures can be converted into actual revenue and profits.

If large cloud players slow down their investment pace in the future, Huida's order growth may be affected. Therefore, how the new management team evaluates customer demand, AI investment return and future order visibility will become the focus of market observation.

6. Rubin mass production progress?

Huida is actively promoting the new generation of Vera Rubin AI platform, and the market is paying attention to product mass production, shipment progress and customer introduction. Among them, the coordination of supply chains such as high-bandwidth memory (HBM), advanced packaging, power and cooling is also an important factor affecting the delivery of new platforms.

On the other hand, Huida estimates that the gross profit margin in the third quarter will be about 74%, which is lower than the 75% in the previous quarter. As memory costs rise, new products are introduced and supply chain investments increase, the outside world will focus on Huida's ability to maintain high profitability.

7. What is the financial forecast for next quarter?

For the market, the most important message in this financial report may not be the revenue that has been achieved, but the new management team's outlook for the future. The outside world will focus on fourth-quarter revenue forecasts, data center business growth, Rubin platform shipments, and whether U.S. restrictions on Chinese chip exports will affect future performance.

In addition, how interim CEO Colette Kress explains succession arrangements, corporate governance and major customer relationships may also affect the market's confidence in Huida's long-term growth.

Overall, the significance of this conference is not just to announce an AI chip sales report card. From Huang Renxun’s business direction after his departure, legal and national security doubts, to the control of lost chips, AI demand and next-generation product layout, the outside world is waiting for clearer answers from the new management team.