The 12VHPWR spec was adopted by PCI-SIG. Many companies are a part of it. Including Nvidia, Intel, AMD, Apple, even video card AIB partners like Asus, MSI, and Gigabyte. We don't know which companies worked on or voted in favor of 12VHPWR. Nvidia was the one to implement it into their video cards AND mandate it for the high end products. AMD capatalized on it in their marketing with their not using it. If you watch the video linked below from Actual Hardcore Overclocking, you'll see another reason why people blame Nvidia for the hardware failures versus AIB partners. They intentionally did not have the per wire protections that could hamper the issues. Companies like EVGA left the business due to disagreements with Nvidia. We can only speculate as to who truly is at fault with the 12VHPWR connector.
People have commented to me that Intel was the head developer of the spec, but again who knows. My personal head canon is that Nvidia didn't want to continue with the 8-pin connectors because it would require 4 plus on a card per it's spec (safety factor) to achieve 500+ watts of power.
View: https://www.youtube.com/watch?v=kb5YzMoVQyw