Intel is expanding fab capital in a pretty significant way right now, without funding from either Dell or the US government. Intel capex continues at a $15B/year pace, while TSMC has been around $17B/year, but projected to increase to almost $30B/year.
2 new AZ foundries: $20B
New Mexico Foveros factory: $3.5B
Ireland expansion: $22B (TSMC 5nm equivalent process)
Israel expansion: $10B (TSMC 5nm equivalent process)
D1X in Oregon: about $5B spent for leading edge process development
Intel generally needs 3 large factories to meet x86 demand, and with fab 42 in AZ ready to go, Ireland nearly ready, and Israel starting construction they should be in good shape for EUV capacity. Now that their 7nm (TSMC 5nm equivalent) process uses 10 EUV layers, 5nm (TSMC 3nm) should easily run in those factories.
Alan
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