diff --git a/platform/mellanox/hw-management.mk b/platform/mellanox/hw-management.mk
index 9664435a146d..cab5e2ecf7df 100644
--- a/platform/mellanox/hw-management.mk
+++ b/platform/mellanox/hw-management.mk
@@ -16,7 +16,7 @@
 #
 # Mellanox HW Management
 
-MLNX_HW_MANAGEMENT_VERSION = 7.0030.4003
+MLNX_HW_MANAGEMENT_VERSION = 7.0040.1008
 
 export MLNX_HW_MANAGEMENT_VERSION
 
diff --git a/platform/mellanox/hw-management/hw-mgmt b/platform/mellanox/hw-management/hw-mgmt
index 6cf13ac6000a..cc3c0e00e8e0 160000
--- a/platform/mellanox/hw-management/hw-mgmt
+++ b/platform/mellanox/hw-management/hw-mgmt
@@ -1 +1 @@
-Subproject commit 6cf13ac6000ad7be68ef9b6b25261bbb0fd5d5a5
+Subproject commit cc3c0e00e8e03bf2edcffaaf356777292ad8d22b
diff --git a/platform/mellanox/non-upstream-patches/external-changes.patch b/platform/mellanox/non-upstream-patches/external-changes.patch
index ffc749cfc05a..cde69e93e127 100644
--- a/platform/mellanox/non-upstream-patches/external-changes.patch
+++ b/platform/mellanox/non-upstream-patches/external-changes.patch
@@ -1,13 +1,14 @@
 
 --- a/patch/kconfig-inclusions
 +++ b/patch/kconfig-inclusions
-@@ -117,6 +117,9 @@
+@@ -124,6 +124,10 @@
  CONFIG_PINCTRL_AMD=y
  CONFIG_EDAC_AMD64=m
  CONFIG_AMD_XGBE_DCB=y
 +CONFIG_USB_NET_DRIVERS=m
 +CONFIG_USB_USBNET=m
 +CONFIG_USB_NET_CDCETHER=m
++CONFIG_HOTPLUG_PCI_PCIE=n
  ###-> mellanox_amd64-end
  # For Cisco 8000
  CONFIG_PHYLIB=m