The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Chips

Capital · deployed

across 8 members — open each for the figure + sources

about Chips

aggregate of member nodes

Aggregate of 8 member claims — each member's sourced figures are below.


the working

Basis

aggregate of member nodes

Member claims 8

This is an aggregate — its evidence is the members' own claims.

  • Nvidia $80B buyback authorization; ~$30.2B strategic equity stakes in its own buyers …
  • Broadcom TTM dividends $11.8B; buybacks $0 in TTM (paused — deleveraging VMware); capex only ~$0.9B …
  • SK Hynix ~$21B/yr capex (TTM 28.89T KRW ~$20.9B) — HBM/DRAM capacity (M15X, Yongin); FY2025 capex …
  • Micron TTM capex ~$25.3B (Idaho/NY megafabs + HBM); buybacks ~$1.4B TTM; dividend ~$0.57B/yr
  • CXMT IPO proceeds earmarked to domestic DRAM/HBM capacity expansion (specific capex figure not …
  • AMD TTM buybacks ~$1.5B (FY25 $1.9B); capex ~$1.2B; AI-GPU R&D + ZT Systems / Xilinx …
  • Qualcomm TTM buybacks ~$11.8B + dividends ~$3.8B (>$15B/yr returned to shareholders); capex ~$1.8B; …
  • Arm capex ~$0.55B (FY26); R&D-led up-stack push (CSS / compute subsystems, own-chiplet …

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A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Chips.