The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Capital · out

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 outflows: ~$50B/yr fab capex (rising to $60-64B) + dividends; FCF TTM TWD 1,143,557M …
  • Samsung outflows: ~$36B/yr capex + dividends; foundry runs at a loss (subsidized by memory …
  • Intel outflows: ~$12B/yr fab capex + debt service (on ~$50.5B debt); dividend was cut/suspended …
  • Globalfoundries outflows: ~$0.9B/yr fab capex; no meaningful dividend; FCF TTM ~$1.07B (positive) — …

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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.