The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Capital · deployed

across 4 members — open each for the figure + sources

about Foundry

aggregate of member nodes

Aggregate of 4 member claims — each member's sourced figures are below.

the working

Basis

aggregate of member nodes

Member claims 4

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

  • TSMC ~$50B/yr capex actually spent (TTM TWD 1,491,123M at 30) climbing toward $60-64B FY2026 …
  • Samsung ~$36B/yr group capex (TTM KRW 52,521,248M at 1460) — mostly memory/HBM lines; foundry …
  • Intel ~$12.1B/yr capex (TTM, trimmed from FY2025 $14.6B as fabs cancelled); US-govt equity is …
  • Globalfoundries ~$0.9B/yr capex (TTM $868M, well under OCF); CHIPS $1.5B (first major award, Feb-2024) + …

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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 Foundry.