“we are looking at 17% to 18% growth year over year for the first half of the year.”

In context

“ssembly test side, to address growth. Beyond that, what I would tell you for CapEx beyond 2026 is to think of the 1.2 times rate that we have talked about before for the long-term CapEx intensity. So, for example, if you take 5% growth, that would translate into 6% CapEx as a percent of revenue, and that is how you would want to model it. Haviv Ilan: Matthew, just one more point. I think Rafael touched upon it. So again, $2 billion to $3 billion is very valid. Remember, we gave a framework that is still very valid—I think it was a couple of years back during Capital Management—on revenue scenarios and CapEx. I think those are also very valid. I will say that, as Rafael alluded to, we are seeing right now, even at the midpoint of the second quarter—and again, I want to see how it plays out—we are looking at 17% to 18% growth year over year for the first half of the year. That is stronger than last year. So, of course, we want to be prepared in case it continues. No one tells us what the future will be; we just have to support a range of scenarios. In that sense, we are taking the opportunity to divert some of the focus because we have enough wafer capacity. I think we are well positioned with our 300-millimeter wafer fabs. We have the brick and mortar. We have the installed equipment. But on the AT side, I think there is an opportunity, and we are very happy that we have internalized our supply because we are seeing more and more bottlenecks in the market that are popping up. The fact that we control our destiny here and we can move more stuff internally is a benefit. So some of the $2 billion to $3 billion of CapEx that you are seeing this year is going”