“And for 2026, we continue to expect $2.3 billion to $2.7 billion and likely to be at the lower side of that range.”

In context

“on the CapEx and depreciation framework that you've given us for the annual numbers for this year and next year, especially given where you are in Phase 2, maybe going to Phase 3 on the CapEx side. Just want to see if there's any incremental color there. Rafael R. Lizardi: Yes. No, happy to do that. The bottom line is there's no change but let me go through those so that everybody has those. On CapEx, for this year, 2025, we continue to expect to spend $5 billion. And for 2026, it's going to be between $2 billion and $5 billion, depending on revenue and growth expectations at that time. And we will update you on those -- on narrowing that CapEx window most likely later this year, okay? On depreciation, switching to depreciation, for 2025, we continue to expect $1.8 billion to $2 billion. And for 2026, we continue to expect $2.3 billion to $2.7 billion and likely to be at the lower side of that range. Operator: Our next question comes from the line of Vivek Arya with Bank of America. Vivek Arya: Haviv, sorry to go back to this tone change because it's not just from the last earnings call. It's at the end of a conference at the end of May, I think you had suggested that every remaining quarter of '25 will accelerate from the first half up 13%, but your Q3 sales guide is up only 11%. So my question is that versus that reference point, which end market has softened? Is it that the industrial normalization is done? Is it that auto, right, was a little weaker? Or is that just extra conservatism on TI's part? Because the tone change is, as I mentioned, not just from earnings, but from the end of May. Haviv Ilan: Yes. And again, I don't control probably tone level, but that's you guys are hea”