Given that TSMC's 20nm process has been hugely delayed and is very expensive, without huge gains in density from 28nm (albeit with power draw reductions), this is hardly a surprise. It's much more economic for both AMD and NVIDIA to wait. This has been known for ages. All the bullshit about 20nm cards (mainly NVIDIA) this year had been completely fabricated, either just idle speculation or made up to promote page views. Add to the above that NVIDIA simply can't use the low power process (they have to use the high power process) and there's enormous competition for wafers on the 20nm low power process from ARM SoCs, and it makes absolutely no sense for either to use it this year (or perhaps at all). AMD's next cards will either be TSMC 28nm or GF 28nm (the latter is looking increasingly likely), with the next generation definitely moving to GF on either FD-SOI and / or a smaller process. NVIDIA's next cards will be 28nm, ones after may well skip 20nm entirely if 14nm isn't hugely delayed.