Semiconductor Fab Investment Tracker 2026–2035

Semiconductor Fab Investment Tracker

Last updated: September 26, 2026, 09:00 UTC — Updated: Monthly full sweep, plus an earnings-window sweep within five business days of each tracked company’s quarterly results, plus same-week entries for groundbreakings, first production, timeline revisions and public-support decisions | Maintained by: Axis Intelligence Research & David Park & Sarah Mitchell

Two Axis metrics run on this register. The Public Capital Leverage Ratio™ (PCLR™) measures how much of a project’s announced capital is covered by disclosed government support. The Groundbreaking-to-Production Interval™ (GPI™) measures how long a fab actually takes from first shovel to first wafer. Both are published with their inputs, their formula and their sample size, and both are deliberately narrow at launch because the disclosure record is narrow.

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Quick Answer: How Much Is Being Invested in New Semiconductor Fabs?

Across 13 primary-sourced projects tracked by Axis Intelligence Research as of August 30, 2026, companies have publicly announced 461,000 million US dollars and 20,000 million euros of fab and packaging capital. Seven projects are under construction, three are in production, and one — Intel’s Ohio One — has been publicly slowed to a 2030–2031 operating window.

Key Findings

1. According to Axis Intelligence Research, disclosed public support covers 46.7% of announced capital across the two tracked projects where both a capital figure and a government support figure appear in primary documents (PCLR™ v1.0, n = 2, as of August 30, 2026).
2. Axis Intelligence Research finds the median groundbreaking-to-production interval is 38 months across the three tracked projects that have reached first production (GPI™ v1.0, n = 3, range 32 to 42 months).
3. Of 13 tracked projects, only two disclose a government subsidy amount in a primary source — ESMC in Dresden and STMicroelectronics in Catania, both under the EU Chips Act.
4. TSMC’s own Arizona overview page confirms 265,000 million US dollars across 12 facilities and states the first three fabs create 6,000 direct jobs, with a fourth fab and the first advanced packaging fab now in initial construction as of early 2026.
5. Intel’s Ohio One is the register’s single largest schedule revision: the company now plans to complete Mod 1 in 2030 and begin operations between 2030 and 2031, with Mod 2 operating in 2032.

Semiconductor Fab Investment Tracker: Full Project Register

The interactive register above carries all 13 projects with filters by company, country, status and segment. Every row links to the document the figure came from. The same data downloads as a CSV under CC BY 4.0.

Recent Entries

September 26, 2026 — Monthly sweep: TSMC source upgraded, Micron milestone, Rapidus flag partially closed

Three rows updated on today’s monthly sweep, none a new project:

• TSMC Arizona Gigafab Cluster. The row’s primary citation moves from the City of Phoenix release to TSMC’s own Arizona overview page, a higher tier in the source hierarchy. The company page independently confirms the 265,000 million dollar total and adds two figures the municipal release did not carry: 6,000 direct jobs from the first three fabs, and confirmation that a fourth fab and the first advanced packaging fab began initial construction in early 2026.
• Micron New York Megafab. A July 9, 2026 company release — not previously in the register — reports first concrete poured more than a quarter ahead of schedule, and states 9,000 of the New York project’s 50,000 jobs are direct Micron roles. The release also raises Micron’s total planned US investment to more than 250,000 million dollars through 2035; that figure spans New York, Idaho and Virginia and is recorded as context in the row’s method_note, not added to this project’s investment_announced_value or to the tracker’s USD total.
• Rapidus IIM-1. The company’s own IIM page confirms the September 1, 2023 groundbreaking, closing the construction-start portion of the row’s open flag. Total project capital remains undisclosed as a single figure, so total_project_capital_pending_primary stays open.

None of these changes move PCLR™ or GPI™: both inputs sets are unchanged, so both readings hold at their prior values.

August 28, 2026 — SK hynix breaks ground on its first US HBM packaging base

SK hynix held a ceremonial groundbreaking on August 27 at Purdue University for an advanced packaging fabrication and R&D facility in West Lafayette, Indiana. The company describes it as the first next-generation high-bandwidth-memory production hub it will operate in the United States, and says roughly 7,000 direct and indirect jobs will be created across construction and commercial operation. More than 100 companies are under consideration as materials, components and equipment suppliers.

Status: under construction · production target 2H 2029 · ~1,000 facility jobs Primary source: SK hynix newsroom, August 28, 2026

The capital figure widely attached to this project — more than 4,000 million dollars — is stated by Purdue University as the site partner, not in SK hynix’s own release. The row carries it with an open flag rather than presenting it as company-disclosed. That distinction matters more here than it looks: a partner’s characterisation of a capital commitment and a company’s own disclosure are different evidentiary objects, and only one of them survives a challenge.

July 16, 2026 — TSMC’s Arizona commitment reaches 265,000 million dollars

The City of Phoenix confirmed an additional 100,000 million dollar investment to build four more 2nm-or-better fabs, bringing TSMC’s disclosed Arizona total to 265,000 million dollars across 12 facilities. The same release states the first Arizona fab has been in volume N4 production since late 2024 with yields comparable to Taiwan, and that construction of the second fab — 3nm — is complete with volume production expected in 2027. TSMC Arizona employed more than 3,500 people in the state at the time of the announcement.

Status: operating and under construction · 265,000 million USD announced Primary source: City of Phoenix, July 16, 2026

July 2, 2026 — Infineon opens its Dresden Smart Power Fab ahead of schedule

Infineon opened the Smart Power Fab in Dresden several months early. At 5,000 million euros it is the largest single investment in the company’s history, doubles 300mm capacity at the Dresden site, and creates 1,000 direct jobs. The fab produces power semiconductors and analog/mixed-signal devices for AI data centre power delivery, software-defined vehicles and renewable generation.

Status: operating · 5,000 million EUR · 1,000 jobs Primary source: Infineon Technologies AG, July 2, 2026

This is the only project on the register that opened early. Everything else that has moved has moved right.

February 27, 2026 — Rapidus closes a 267.6 billion yen round for the 2nm ramp

Rapidus completed a funding round of 267.6 billion yen, of which 100 billion yen came from the Information-technology Promotion Agency, a government body under METI. The company frames the round as the bridge from its current R&D phase to 2nm logic mass production targeted for 2027 at IIM-1 in Chitose, Hokkaido.

Status: pilot line operating · 2nm gate-all-around · mass production targeted 2027 Primary source: Rapidus Corporation, February 27, 2026

The IPA money is an equity investment, not a grant and not a loan. It is therefore excluded from the PCLR™ subsidy and loan columns, and the reason is written into the row’s method_note. Instrument type is not a formality — a government taking equity and a government writing a cheque produce identical headlines and entirely different balance sheets.

January 16, 2026 — Micron breaks ground in Clay, New York

Micron broke ground on a leading-edge memory complex in Onondaga County with up to four fabs, which the company calls the largest semiconductor facility in the United States. The stated investment is 100,000 million dollars, generating 50,000 jobs in New York — a statewide figure across direct and indirect roles as the company characterises it, not site headcount.

Status: under construction · 100,000 million USD · first fab operating 2030 Primary source: Micron Technology, January 16, 2026

December 17, 2025 — Texas Instruments starts production at SM1 in Sherman

TI began production at SM1, its newest 300mm fab, three and a half years after breaking ground. The Sherman site plan runs to four connected fabs. SM1 output is analog and embedded processing silicon — power management, automotive, industrial — not leading-edge logic.

Status: operating · Sherman site plan up to 40,000 million USD across four fabs Primary source: Texas Instruments, December 17, 2025

SM1 is the fastest greenfield build on the register at 42 months, and it is a mature-node analog fab. That relationship is not a coincidence, and it is the single most useful thing on this page for anyone forecasting a leading-edge schedule.

October 6, 2025 — Amkor breaks ground in Peoria and expands to 7,000 million dollars

Amkor broke ground on an outsourced advanced packaging and test campus in Peoria, Arizona, expanding the planned investment from 2,000 million to 7,000 million dollars across two phases. The campus will offer more than 750,000 square feet of cleanroom and as many as 3,000 jobs, with the first facility completing mid-2027 and production starting in early 2028.

Status: under construction · 7,000 million USD · 3,000 jobs Primary source: Amkor Technology, October 6, 2025

February 28, 2025 — Intel pushes Ohio One into the 2030s

Intel adjusted the Ohio One schedule: Mod 1 construction completing in 2030 with operations between 2030 and 2031, and Mod 2 completing in 2031 with operations in 2032. The company stated it would continue construction at a slower pace while retaining the ability to accelerate if customer demand warrants.

Status: under construction, slowed · 28,000 million USD Primary source: Intel Corporation, February 28, 2025

August 20, 2024 — ESMC breaks ground in Dresden with 5,000 million euros of approved State aid

ESMC — a joint venture of TSMC, Bosch, Infineon and NXP — broke ground on what will be the EU’s first FinFET-capable pure-play foundry. Total investment is expected to exceed 10,000 million euros, and around 2,000 direct high-tech jobs are expected. On the same day, the European Commission approved a 5,000 million euro German State aid measure for the project under EU State aid rules.

Status: under construction · 10,000 million EUR · 5,000 million EUR State aid · 2,000 jobs Primary sources: TSMC, August 20, 2024 · European Commission

May 31, 2024 — STMicroelectronics commits 5,000 million euros to the Catania SiC campus

ST announced a high-volume 200mm silicon carbide facility for power devices and modules, plus test and packaging, in Catania. Around 2,000 million euros of the roughly 5,000 million euro programme is Italian State support under the EU Chips Act. Production was targeted from 2026, ramping to full capacity by 2033 at up to 15,000 wafers per week.

Status: under construction · 5,000 million EUR · 2,000 million EUR State support Primary source: STMicroelectronics, May 31, 2024 Archive — entries older than 24 months

February 24, 2024 — JASM Fab 1 opens in Kumamoto

TSMC held an opening ceremony for JASM, established in 2021 and under construction since April 2022, with production targeted by the end of 2024. Fab 1 runs 12, 16, 22 and 28nm. Primary source: TSMC, February 24, 2024

February 6, 2024 — JASM Fab 2 announced with Toyota joining

TSMC, Sony Semiconductor Solutions, DENSO and Toyota announced further investment in JASM for a second Kumamoto fab, scheduled to begin operation by the end of calendar 2027, with construction commencing by the end of 2024. Combined JASM investment across both fabs was stated to exceed 20,000 million dollars with strong Japanese government support. Primary source: TSMC, February 6, 2024

November 23, 2021 — Samsung selects Taylor, Texas

Samsung announced a 17,000 million dollar advanced logic fab in Taylor, with groundbreaking in the first half of 2022 and a target of operations in the second half of 2024. Primary source: Samsung Electronics, November 23, 2021

What Is the Public Capital Leverage Ratio™ (PCLR™)?

PCLR™ measures how much of a fab project’s announced capital is covered by disclosed government support.

Formula (v1.0):

PCLR = ( Σ disclosed government subsidies + Σ disclosed government loans )
       ÷ ( Σ announced total investment )

computed over the subset of tracked projects where both the capital figure and the public-support figure appear in a primary document, and where both are denominated in the same currency.

Inputs, v1.0, as of August 30, 2026:

Project	Announced investment	Disclosed public support	Source
ESMC Dresden Fab	10,000 million EUR	5,000 million EUR (German State aid, EC-approved)	TSMC; European Commission
Catania Silicon Carbide Campus	5,000 million EUR	2,000 million EUR (Italian State, EU Chips Act)	STMicroelectronics
Total	15,000 million EUR	7,000 million EUR

PCLR™ v1.0 baseline reading: 46.7% (n = 2), as of August 30, 2026.

This is the inaugural reading and it is a baseline, not a trend point. There is no prior series and none will be back-computed.

Why n = 2. Eleven of thirteen tracked projects have no primary-sourced public-support figure. That is not a research gap — it is the finding. The CHIPS and Science Act awards, the Japanese METI and NEDO allocations, and the New York Green CHIPS credits are all real and all widely reported, but they are reported in terms that mix preliminary memoranda, milestone-contingent tranches, disbursed amounts and headline ceilings. Averaging a milestone-contingent award ceiling against a disbursed grant produces a number that means nothing, so we do not merge them. Both euro-denominated projects disclose a fixed, approved grant against a stated capital figure, which is why they qualify and the others do not.

Limitations. PCLR™ v1.0 covers grants and loans only, not equity investments (which is why Rapidus is excluded), not tax credits, and not the Advanced Manufacturing Investment Credit, which is claimed against realised capital spending rather than announced capital and therefore cannot be compared to an announcement figure. Announced investment is a company statement about intent over a multi-decade horizon; it is not audited capital deployed. The ratio will move as much from disclosure improving as from policy changing, and any reading should be read that way.

What Is the Groundbreaking-to-Production Interval™ (GPI™)?

GPI™ measures the elapsed months from construction start to first production, across tracked projects that have actually reached production. It exists because every fab schedule published anywhere is a forecast, and forecasts in this sector are systematically optimistic. GPI™ is the only figure on this page computed from outcomes rather than intentions.

Formula (v1.0):

GPI = median( months between construction_start and first production )
      across tracked projects with project_status = operating

Inputs, v1.0, as of August 30, 2026:

Project	Construction start	First production	Interval
JASM Fab 1, Kumamoto	April 2022	December 2024 (company target)	32 months
Infineon Smart Power Fab, Dresden	May 2023	July 2, 2026	38 months
Texas Instruments SM1, Sherman	June 2022	December 17, 2025	42 months

GPI™ v1.0 baseline reading: 38 months median (n = 3, range 32–42), as of August 30, 2026.

Limitations. All three completed projects are mature-node or specialty processes — image-sensor logic, power/analog, and analog/embedded. None is a leading-edge logic or DRAM greenfield, which means 38 months is a floor for the projects still under construction, not a central estimate for them. Two inputs carry open flags: JASM’s December 2024 date is the company’s stated target rather than a confirmed first-wafer announcement, and Infineon’s May 2023 groundbreaking date does not appear in the opening release. Both flags are published in the CSV and will close or change the reading, not be quietly resolved.

Versioning. Both metrics are at v1.0. Any change to the formula, the inclusion rule or the input set increments the version. Historical readings are never retroactively recalculated.

How We Curate This List

What counts. A project enters the register when a fabrication plant, memory fab, advanced packaging plant or substrate facility is announced, starts construction, starts production, revises its schedule, receives or loses a disclosed public support decision, or is cancelled — and when that event appears in a document published by the company, the awarding government body, or the host state or municipality, fetched and read at entry time.

What does not count. Design centres, R&D labs without production intent, equipment or materials supplier facilities, test-only sites, capacity expansions inside an existing fab shell that are not separately announced, and data centre projects. Data centre capital lives on the AI Data Center Tracker and no project appears on both.

Source hierarchy. Company press release or investor-relations release · awarding government decision (European Commission, METI/NEDO, US Department of Commerce) · state or municipal economic development release · company annual report or filing. Nothing below that tier establishes a row.

Aggregators. Axis does not cite, link to, or reproduce figures from other compilations of this data. Every figure here traces to the party that produced it.

Currency. Figures are recorded in the currency in which they were announced. We do not convert to a common currency, because a 2021 dollar announcement and a 2024 euro announcement converted at today’s rate produce a comparison that is precise and meaningless. Totals are reported per currency.

Empty cells. A cell is empty when the figure has not been publicly disclosed. It is never zero, never estimated, never interpolated from a comparable project. Three of thirteen projects have no disclosed capital figure and the register says so.

Verification flags. Ten of thirteen rows carry an open verification_flag. These are published, not suppressed. A flag means a specific field is awaiting a primary document — it does not mean the row is unsourced.

What We Did Not Log

• Samsung Taylor Fab 2. Construction start by end-2026 and mass production in 2030 were stated on the company’s Q2 2026 earnings call and reported widely. No company-published document confirming these dates has been fetched, so no row exists. The Taylor Fab 1 row still carries the originally announced 2H 2024 production target rather than a reported revision, for the same reason.
• SMIC, CXMT and YMTC. Chinese fab capital and capacity figures circulate widely but are not published by the operators in a form that meets the source hierarchy above. Entering them would mean sourcing rows to reporting about the projects rather than to the projects. They remain out until a primary disclosure exists.
• JASM Fab 2 node revision. Reporting indicates the process target moved from 6nm class toward a more advanced node. TSMC’s own release states the original scope. The row records what TSMC published and flags the revision as pending.
• CHIPS Act award amounts. Award ceilings, preliminary memoranda and disbursed tranches are not interchangeable. Until each project’s figure can be tied to a specific instrument in a primary document, the subsidy column stays empty for US projects.

Update Cadence and Why It Is Set This Way

Fab news does not arrive on a smooth curve. It clusters in three places, and the cadence is built around those, not around what other publications do.

Earnings-window sweep — within five business days of each tracked company’s quarterly results. This is where timelines actually move. Intel’s Ohio revision, Samsung’s Taylor Fab 2 schedule and TSMC’s Arizona permit filings all surfaced in earnings materials or the calls attached to them. A monthly-only cadence catches these an average of two weeks late.

Monthly full sweep — first business day of each month. Every row’s source URL is re-fetched, every figure re-read, last_update set only where something changed.

Event-triggered entry, same week — groundbreaking, first production, published schedule revision, public support decision or withdrawal, cancellation.

Semi-annual deep re-verification — January and July. Every source URL confirmed live and confirmed to still contain the claim; every open verification flag reviewed for closure.

dateModified moves only on a substantive change. A sweep that finds nothing produces no date bump.

Frequently Asked Questions

How many semiconductor fab projects does this tracker cover?

Thirteen, as of August 30, 2026: seven in the United States, three in Japan, two in Germany and one in Italy. Coverage expands as projects meet the primary-source requirement, not on a target count.

What is the total announced semiconductor fab investment tracked here?

461,000 million US dollars and 20,000 million euros across the projects that disclose a capital figure. Three projects — Rapidus IIM-1 and both JASM fabs — have no standalone disclosed capital figure and are therefore not in either total.

Which tracked fab took the longest to build?

Texas Instruments SM1 in Sherman, at 42 months from groundbreaking to production in December 2025 — and it is the longest only because it is one of three projects on the register that has finished. The shortest is JASM Fab 1 in Kumamoto at 32 months.

How much of this investment is government money?

Across the two projects that disclose both figures in primary sources, disclosed public support covers 46.7% of announced capital (PCLR™ v1.0, n = 2). For the other eleven projects, no primary-sourced support figure exists, which is itself the more interesting number.

Why are Chinese fabs not included?

Because SMIC, CXMT and YMTC do not publish project-level capital, schedule and capacity disclosures that meet this tracker’s source hierarchy. A row sourced to reporting about a project rather than to the project is a fabricated row with a footnote.

Can I reuse this dataset?

Yes. The CSV is licensed CC BY 4.0. Cite as: Axis Intelligence Research, Semiconductor Fab Investment Tracker 2026–2035, 2026.

About This Dataset

Title: Semiconductor Fab Investment Tracker 2026–2035

Publisher: Axis Intelligence Research File: semiconductor-fab-investment-tracker.csv · 13 rows · 29 columns · UTF-8 · CC BY 4.0

Temporal coverage: 2020-05 to 2035 (announced completion horizons)

Spatial coverage: United States, Japan, Germany, Italy

Provenance columns: source_org, source_document, source_url, retrieved_date, is_primary, axis_calculated, method_note, verification_flag

Download: semiconductor-fab-investment-tracker.csv

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Other Page

• Semiconductor Statistics
• Semiconductor Manufacturing Statistics
• CHIPS Act Statistics