The No 8 has struggled with a hip problem in recent days, which has led to back issues for the iconic forward.
Sam Whitelock will skipper the All Blacks in place of Read.
“Kieran hurt his back on Thursday, so he is unavailable. He is resting up in his bedroom,” said All Blacks head coach Steve Hansen.
“Kieran is like everyone else. If you are not available, it is an opportunity for someone else.
“While it is disappointing to lose your leader and a guy who has played 100-odd Test matches, you can’t do anything about it so there is no point getting all emotional.
“Sam is a successful captain. He has been a leader in our group for quite some time now.”
Whitelock’s brother Luke will pack down at No 8 with Read absent, while the All Blacks have wing Rieko Ioane available to start the game after a miraculous recovery from a shoulder injury.
Aaron Smith and Beauden Barrett are the half-back pairing in a dangerous back division which includes centres Sonny Bill Williams and Ryan Crotty.
Damian McKenzie starts at full-back with Waisake Naholo on the right wing.
“We did say at the beginning of the week that Rieko wasn’t going to be playing. I don’t know what the doctor has done, but he has fixed him and he is available,” Hansen said.
“He had a scan on his shoulder earlier in the week. There was no damage there and through the week it has got better and better. We tested him and he is fine.”
Kane Hames, Codie Taylor, Nepo Laulala and Patrick Tuipulotu all start in New Zealand’s front five.
Wales haven’t beaten the All Blacks since 1953 and are looking for a famous win in Cardiff.
“Wales have got a couple of injuries. Jonathan Davies is a big loss to them, but the team they’ve picked is pretty much the team they played against Australia,” said Hansen.
“History is a little bit like a drought. Every day you are one closer to it raining, so every year Wales will be one closer to winning against New Zealand.
“We don’t talk about winning and losing, we talk about preparing and having a process that allows to go out and play the best we can.”
New Zealand XV to face Wales: Damian McKenzie; Waisake Naholo, Ryan Crotty, Sonny Bill Williams, Rieko Ioane; Beauden Barrett, Aaron Smith; Kane Hames, Codie Taylor, Nepo Laulala, Patrick Tuipulotu, Samuel Whitelock (capt), Liam Squire, Sam Cane, Luke Whitelock
Replacements: Nathan Harris, Wyatt Crockett, Ofa Tu’ungafasi, Scott Barrett, Matt Todd, TJ Perenara, Lima Sopoaga, Anton Lienert-Brown
