Tim Beyers

Also in the fourth quarter, shipment of three nanometer chipsets accounted for 28% of total wafer revenue.

Five nanometer was 35% in seven nanometer.

was 14%.

This is important because the most advanced chips, so nanometer being really small.

At three nanometer, these are the most advanced chips.

The most advanced chips are accounting for 77% of total wafer revenue.

There is a lot of AI being built, in other words, at Taiwan semiconductor factories.

Management now expects between $52 billion and $56 billion in capital spending

in this year.

On a run rate basis, I'm going to go to you first on this, Travis.

I think, I'm going to estimate that about 40% of Taiwan Semi revenue is going to be spent on capital spending.

This is crazy.

How long can this go on?

What's your reaction to those Taiwan Semi numbers?

Okay, Jason.

Travis just laid down some knowledge there that is important.

I'm going to take the question to you.

He said that this is a conservative number, $52 billion to $56 billion in capital spending.

That's conservative.

You tell me, is this the floor of capital spending here right now?