(Bloomberg) -- Nvidia Corp.’s Jensen Huang headlines the 2025 edition of Asia’s biggest electronics conference, for years a showcase for his company’s cutting-edge AI chips and the companies lining up to buy them. This year, however, the spotlight may well be on another far bigger personality: US President Donald Trump.
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Computex kicks off Monday in Taipei, and as in years past will draw industry chieftains from Huang and Qualcomm Inc.’s Cristiano Amon to Young Liu of Foxconn, which makes the bulk of the world’s iPhones and Nvidia servers. But while last year’s event was a celebration of the post-ChatGPT AI boom, executives this time are likely grappling with the uncertainty of the Trump administration’s effort to reshape the global trade order — disrupting a decades-old model for tech manufacturing.
This year’s exhibition will of course feature the hardware required to bring artificial intelligence to life. Apart from Nvidia chips, that includes server racks assembled by Hon Hai Precision Industry Co., also known as Foxconn; power components from Delta Electronics Inc.; and datacenter cooling systems from Asia Vital Components Co. But while they tout new products onstage, these companies are also confronting profound questions about the US administration’s tariff regime.
Here are the key themes to watch out for this week.
The Shifting Geography of Chip Manufacturing
Trump wants manufacturing back home. To that end, the White House has secured major chipmaking commitments, most notably an additional $100 billion investment from Taiwan Semiconductor Manufacturing Co. As TSMC builds out its Arizona operations with more production lines, supply chain players are also joining it in the US — and accelerating those plans because of the new tariffs.
Asia’s biggest electronics companies may also find new opportunity in the Middle East. In the week before Computex, a US delegation led by the president — and including tech luminaries Huang, Elon Musk and OpenAI co-founder Sam Altman — visited Saudi Arabia’s Riyadh with lofty promises of new trade deals. Alongside a relaxation of AI chip export rules, the visit underlines the Middle East’s growing importance as a player in the AI field.
“The new focus on export rules around China and Huawei means more opportunity for Taiwan,” said Taipei-based industry analyst Dan Nystedt.
AI’s Questionable Payoff
From Advanced Micro Devices Inc. to Nvidia and Qualcomm, the development of generative artificial intelligence was heralded at Computex last year as comparable to the advent of the internet.
Consumers haven’t responded with the same enthusiasm. Smartphone shipments grew by only 2.4% and PCs by an even slimmer 1.8% over the holiday quarter, according to industry tracker IDC. The promises from the likes of Samsung Electronics Co. about how transformative AI would be in day-to-day life have not come to pass. Apple Inc. hasn’t even rolled out its full AI suite for iPhones yet. So executives at Computex will face questions about when the payoff is supposed to come.
They’ll also have to address concerns about an AI bubble. Investment from the biggest US internet firms remains elevated. Yet Microsoft Corp. has pulled back on some of its expansion plans, and Alibaba Group Holding Ltd.’s Joe Tsai warned against building vast data centers without knowing their purpose.
Intel’s New Man in Charge
Lip-Bu Tan, the newly appointed chief executive officer of Intel Corp., won’t be at Computex in a formal capacity as his company won’t conduct its traditional keynote address. But he’ll likely be doing more meetings than anyone at the show as he continues his survey of partners and customers. He’s said recently that he’s doing countless meetings each day and having two or three business dinners trying to get insight.
Tan is currently weighing options to reform the storied US chipmaker. Intel is still the biggest provider of PC and server processors, though it’s losing market share. He’ll work to persuade customers of TSMC that Intel’s factories are a viable alternative and that the US manufacturer — historically a rival — can be a trusted partner. The financial strain of predecessor Pat Gelsinger’s spending on a turnaround plan tanked Intel’s shares, particularly because it hasn’t deliver tangible benefits yet. Now, Tan is rebooting everything with a focus on better execution.
“Computex is historically such a PC-focused event, and yet Intel seems to be sitting it out quietly,” said IDC analyst Bryan Ma. “It’s understandable given everything else going on in the organization right now, but their absence is notable given all of their talk about AI PCs last year.”
Tan, who served as CEO of chip-design software maker Cadence Design Systems Inc. for 12 years, has decades of experience investing and making deals in the semiconductor industry. At and around Computex, he’ll work to reassure and recruit partners for the effort to close ground on Nvidia and TSMC.
Foxconn’s Debut
Foxconn is making an unusually prominent appearance. Chairman Liu will host a keynote presentation on Tuesday, likely underscoring its growing role as an AI server assembler. In previous iterations of the show, the company has been represented by subsidiaries like Ingrasys Technology Inc.
Foxconn is working to diversify its revenue away from assembling smartphones and other consumer electronics. It’s developed an automotive division and hopes to collect bigger orders for electric vehicles. That venture gained a significant customer this month, with Mitsubishi Motors Corp. ordering a made-in-Taiwan EV for Australia and New Zealand. The company is also keen on advancing robotics.
“Of course AI plus robots, AI plus robots,” Liu said about the focus at Computex.
What’s Next From Nvidia
“My first night in Taipei is always dinner with C.C.,” Jensen Huang said on Friday, emerging from a restaurant alongside TSMC CEO and Chairman C.C. Wei. The Nvidia boss remains a larger-than-life personality in Taiwan, with crowds following his every move. Investors will be keen to hear more about the chip designer’s strategy to expand its reach.
The company has been forthcoming with plans to upgrade its AI chips on a roughly annual basis, and Huang has also talked about the potential of AI in the robotics industry. Microsoft’s developer event, Build, is taking place the same week over in Seattle, and speculation has grown in recent times about Nvidia joining Qualcomm in building more AI-capable, Arm-based chips for PCs.
“I’m keeping my eyes and ears open for whatever Nvidia and MediaTek might confirm around their rumored Windows-on-Arm solution,” said IDC’s Ma. That might further challenge Intel’s traditional stronghold.
In the days leading up to Computex, Huang joined a US delegation to the Middle East led by the president, lauding the opening up of trade. The scrapping of Biden-era AI chip rules will help the United Arab Emirates and Saudi Arabia acquire more of Nvidia’s industry-leading technology and expand their capabilities in artificial intelligence.
“With proper forecasting, we would be able to build the necessary technologies for everyone,” Huang said to Bloomberg News on Saturday.
--With assistance from Ian King.
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