The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Optionality

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 mixed — FCF-generative and self-funding, but a rising slice is locked to the forced …
  • Samsung constrained — chaebol Lee-family voting control; HBM-vs-foundry capital tug; national …
  • Intel locked/constrained — turnaround leaves little free cash; the US golden-share warrant ties …
  • Globalfoundries mixed — self-funded and FCF-positive (real freedom at its scale), but Mubadala's 82% …

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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.