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Goldman Sachs' latest report has significantly raised its global wafer fab equipment spending forecasts for 2026 to 2028 to $150 billion, $218 billion, and $281 billion respectively, with projected growth far exceeding previous estimates. With TSMC’s N2 process expansion, Samsung and SK Hynix betting on HBM4, and the $16.8 billion commitments from SpaceX and Tesla’s Terafab project, multiple growth drivers are resonating. The semiconductor capital expenditure boom cycle is now expected to continue through 2028.