{
  "metadata": {
    "title": "RealMenHaveFabs claim registry",
    "as_of": "2026-07-12",
    "instruction": "Every published quantitative claim should resolve to one or more source IDs. Display state, source quality, period, and caveat. Retire claims when outdated rather than silently overwriting."
  },
  "claims": [
    {
      "id": "C001",
      "claim": "The old CapEx-only proof of fabless capital efficiency is incomplete because material capacity exposure can appear as commitments, prepayments, inventory, guarantees, and investments.",
      "state": "inferred",
      "source_ids": [
        "S01",
        "S02",
        "S05",
        "S07",
        "S21"
      ],
      "website_placement": "Thesis",
      "caveat": "Do not state that every fabless company is more capital-intensive than every IDM.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C002",
      "claim": "NVIDIA disclosed $119 billion of manufacturing, supply, and capacity commitments at April 26, 2026.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "Hero / NVIDIA",
      "caveat": "Keep separate from cloud, investment, and other vendor commitments.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C003",
      "claim": "Of NVIDIA’s $119 billion manufacturing, supply, and capacity commitments, $95 billion was payable during the remainder of fiscal 2027.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "NVIDIA",
      "caveat": "Use the filing’s fiscal-period wording.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C004",
      "claim": "NVIDIA reported $10.383 billion of PP&E at January 25, 2026.",
      "state": "verified",
      "source_ids": [
        "S01"
      ],
      "website_placement": "NVIDIA / dashboard",
      "caveat": "Period differs by one quarter from the $119B commitment balance.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C005",
      "claim": "NVIDIA spent about $6.042 billion on property, equipment, and intangible assets in fiscal 2026.",
      "state": "verified",
      "source_ids": [
        "S01"
      ],
      "website_placement": "NVIDIA / dashboard",
      "caveat": "Label the exact cash-flow line rather than implying all spending was fab-related.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C006",
      "claim": "NVIDIA reported $25.797 billion of inventory at April 26, 2026.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "NVIDIA",
      "caveat": "Current point-in-time value.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C007",
      "claim": "NVIDIA reported a $3.121 billion liability for excess inventory purchase obligations at April 26, 2026.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "NVIDIA",
      "caveat": "Use exact filing definition.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C008",
      "claim": "NVIDIA recorded a $4.5 billion fiscal 2026 charge associated with excess H20 inventory and purchase obligations after export restrictions.",
      "state": "verified",
      "source_ids": [
        "S01"
      ],
      "website_placement": "NVIDIA / export controls",
      "caveat": "Do not repeat the earlier $5.5B estimate as the actual charge.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C009",
      "claim": "NVIDIA reported $7.2 billion of provisions for inventory and excess purchase obligations in fiscal 2026.",
      "state": "verified",
      "source_ids": [
        "S01"
      ],
      "website_placement": "NVIDIA",
      "caveat": "Annual figure, not solely H20.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C010",
      "claim": "NVIDIA disclosed approximately $3.5 billion of partner-facility lease guarantees in exchange for warrants.",
      "state": "verified",
      "source_ids": [
        "S01"
      ],
      "website_placement": "NVIDIA / ecosystem finance",
      "caveat": "Not a wafer-fab commitment.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C011",
      "claim": "NVIDIA’s April 2026 filing separately disclosed $30 billion of cloud-service commitments.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "AI infrastructure",
      "caveat": "Keep separate from semiconductor manufacturing.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C012",
      "claim": "NVIDIA’s April 2026 filing separately disclosed $27 billion of investment commitments.",
      "state": "verified",
      "source_ids": [
        "S02"
      ],
      "website_placement": "AI infrastructure",
      "caveat": "Keep separate from semiconductor manufacturing.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C013",
      "claim": "AMD disclosed approximately $12.166 billion of unconditional commitments at December 27, 2025.",
      "state": "verified",
      "source_ids": [
        "S05"
      ],
      "website_placement": "AMD",
      "caveat": "Commitments include wafers/substrates and non-manufacturing items.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C014",
      "claim": "AMD disclosed that $8.5 billion of its unconditional commitments was due in fiscal 2026.",
      "state": "verified",
      "source_ids": [
        "S05"
      ],
      "website_placement": "AMD",
      "caveat": "Use fiscal wording.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C015",
      "claim": "AMD announced more than $10 billion of investment across Taiwan’s AI ecosystem in May 2026.",
      "state": "corroborated",
      "source_ids": [
        "S06"
      ],
      "website_placement": "AMD",
      "caveat": "Do not describe as a single TSMC capacity reservation.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C016",
      "claim": "AMD recorded a $440 million net inventory and related charge associated with MI308 export restrictions.",
      "state": "verified",
      "source_ids": [
        "S05"
      ],
      "website_placement": "AMD / export controls",
      "caveat": "Use company filing.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C017",
      "claim": "Qualcomm disclosed $15.1 billion of purchase obligations at September 28, 2025, primarily with integrated-circuit suppliers and including multi-year capacity commitments.",
      "state": "verified",
      "source_ids": [
        "S07"
      ],
      "website_placement": "Qualcomm",
      "caveat": "Follow filing definition.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C018",
      "claim": "Qualcomm disclosed $10.5 billion of purchase obligations due within the following twelve months.",
      "state": "verified",
      "source_ids": [
        "S07"
      ],
      "website_placement": "Qualcomm",
      "caveat": "Point-in-time schedule.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C019",
      "claim": "Qualcomm disclosed $1.9 billion of advance payments under multi-year capacity purchase commitments in fiscal 2025.",
      "state": "verified",
      "source_ids": [
        "S07"
      ],
      "website_placement": "Qualcomm",
      "caveat": "Down from $3.0B in fiscal 2024.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C020",
      "claim": "Apple agreed to spend more than $30 billion on Broadcom FBAR filters through 2031.",
      "state": "corroborated",
      "source_ids": [
        "S08"
      ],
      "website_placement": "Apple / Broadcom",
      "caveat": "Long-term supply agreement, not Apple-owned PP&E.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C021",
      "claim": "Broadcom plans to invest $1.5 billion to expand its Fort Collins factory under the Apple agreement.",
      "state": "corroborated",
      "source_ids": [
        "S08"
      ],
      "website_placement": "Apple / Broadcom",
      "caveat": "Customer-backed supplier expansion.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C022",
      "claim": "TSMC planned $52 billion to $56 billion of capital expenditure in 2026.",
      "state": "corroborated",
      "source_ids": [
        "S10"
      ],
      "website_placement": "TSMC",
      "caveat": "Update after future earnings reports.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C023",
      "claim": "TrendForce estimated TSMC had 70.2% of global foundry revenue in Q2 2025.",
      "state": "estimated",
      "source_ids": [
        "S24"
      ],
      "website_placement": "Foundry concentration",
      "caveat": "Revenue share estimate, not advanced-node wafer share.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C024",
      "claim": "SK Hynix’s CEO said in July 2026 that the memory industry could face its worst shortage in 2027 and that demand could exceed supply beyond 2030.",
      "state": "corroborated",
      "source_ids": [
        "S11"
      ],
      "website_placement": "HBM / memory",
      "caveat": "Time-sensitive executive forecast, not an established future fact.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C025",
      "claim": "ASE expected its advanced-packaging business to double to about $3.2 billion in 2026.",
      "state": "corroborated",
      "source_ids": [
        "S13"
      ],
      "website_placement": "Advanced packaging",
      "caveat": "Company outlook.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C026",
      "claim": "Amkor’s Arizona advanced-packaging project was supported by up to $400 million of U.S. CHIPS funding and was expected to cost about $2 billion.",
      "state": "corroborated",
      "source_ids": [
        "S14"
      ],
      "website_placement": "Advanced packaging / policy",
      "caveat": "Use final award document when available.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C027",
      "claim": "GM and GlobalFoundries entered a long-term agreement for dedicated U.S. semiconductor capacity.",
      "state": "corroborated",
      "source_ids": [
        "S15A"
      ],
      "website_placement": "Dedicated capacity",
      "caveat": "Illustrates vertical integration by contract.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C028",
      "claim": "NVIDIA agreed to purchase up to $6.3 billion of unsold CoreWeave cloud capacity through 2032.",
      "state": "corroborated",
      "source_ids": [
        "S16"
      ],
      "website_placement": "AI infrastructure",
      "caveat": "Cloud capacity, not fab capacity.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C029",
      "claim": "Anthropic committed to purchase $30 billion of Microsoft Azure compute capacity.",
      "state": "corroborated",
      "source_ids": [
        "S17"
      ],
      "website_placement": "AI infrastructure",
      "caveat": "Downstream compute capacity.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C030",
      "claim": "Meta described AI infrastructure spending of up to $145 billion in 2026 and a large custom-silicon deployment.",
      "state": "corroborated",
      "source_ids": [
        "S18"
      ],
      "website_placement": "Hyperscalers",
      "caveat": "Refresh with company filings and earnings releases.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C031",
      "claim": "Texas Instruments announced plans to invest more than $60 billion across seven U.S. fabs.",
      "state": "corroborated",
      "source_ids": [
        "S19"
      ],
      "website_placement": "TI / ownership",
      "caveat": "Investment plan; execution, timing, and utilization remain uncertain.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C032",
      "claim": "Intel’s experience shows that fab ownership without process competitiveness and utilization can destroy value.",
      "state": "inferred",
      "source_ids": [
        "S20A",
        "S20B"
      ],
      "website_placement": "Intel / counterargument",
      "caveat": "Editorial inference supported by losses, restructuring, and project changes.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C033",
      "claim": "SEC MD&A rules require discussion of material cash requirements and recognize that off-balance-sheet commitments can materially affect financial condition.",
      "state": "verified",
      "source_ids": [
        "S21"
      ],
      "website_placement": "Accounting / methodology",
      "caveat": "Paraphrase, not a legal opinion.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C034",
      "claim": "Direct U.S. manufacturing incentives predominantly accrue to companies building or expanding physical manufacturing assets.",
      "state": "inferred",
      "source_ids": [
        "S14",
        "S15B",
        "S19",
        "S23"
      ],
      "website_placement": "Policy",
      "caveat": "Fabless companies can benefit indirectly and through R&D; avoid saying they receive no benefit.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C035",
      "claim": "The strongest semiconductor businesses own the bottleneck, finance it, or control it through contracts that survive scarcity.",
      "state": "inferred",
      "source_ids": [
        "S01",
        "S02",
        "S05",
        "S07",
        "S08",
        "S15A"
      ],
      "website_placement": "Thesis",
      "caveat": "Editorial synthesis, not a quoted fact.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C036",
      "claim": "Purchase commitments are not automatically prepaid cash and should not be treated as economically identical to fab construction.",
      "state": "verified",
      "source_ids": [
        "S01",
        "S02",
        "S05",
        "S07",
        "S21"
      ],
      "website_placement": "Methodology",
      "caveat": "Core caveat for all charts.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C037",
      "claim": "Broadcom is better classified as hybrid or fab-light than purely fabless because it owns specialty FBAR manufacturing while outsourcing substantial logic production.",
      "state": "inferred",
      "source_ids": [
        "S08"
      ],
      "website_placement": "Broadcom",
      "caveat": "Verify with current annual report before a detailed company profile.",
      "last_verified": "2026-07-12"
    },
    {
      "id": "C038",
      "claim": "Intel is a caution, while TSMC is evidence that competitive, highly utilized manufacturing ownership can produce superior economics.",
      "state": "inferred",
      "source_ids": [
        "S10",
        "S20A",
        "S20B"
      ],
      "website_placement": "Thesis / counterargument",
      "caveat": "Avoid claiming that all owned capacity creates value.",
      "last_verified": "2026-07-12"
    }
  ]
}