➀ Global semiconductor equipment spending reached $33.07 billion in Q2 2025, up 23% YoY, with China ($11.36B) leading but declining 7%, while Taiwan ($8.77B, +125%) surged driven by TSMC;

➁ U.S. fab projects face delays (Intel, Micron, Samsung), contributing to North America's 41% QoQ spending drop;

➂ 2025 global Capex is projected at $160B (+3% YoY), with mixed 2026 forecasts: Intel plans cuts, Micron and TSMC (predicted $45B in 2026) eye expansions amid CHIPS Act policy shifts under Trump's administration.

➀ Dell’Oro projects data center infrastructure spending to exceed $1 trillion annually by 2029;

➁ AI infrastructure spending is expected to maintain strong growth momentum despite sustainability efforts;

➂ Key areas of focus include advancements in accelerated computing, LLM optimizations, and next-generation infrastructure.

➀ Intel has adopted a 'get real' approach to its product roadmap, scrapping Falcon Shores and slowing down the introduction of 18A.

➁ Analyst Stacy Rasgon believes Intel's AI accelerator story is 'dead'.

➂ Intel is considering moving more products to foundry, which may reduce margins.