{
  "id": "E08",
  "lang": "en",
  "question": "What was TSMC’s actual capital expenditure in 2025 versus its original guidance?",
  "answer": "TSMC’s actual consolidated capital expenditure in 2025 was US$40.90 billion, within its original US$38–42 billion guidance.[Actual](https://investor.tsmc.com/english/encrypt/files/encrypt_file/qr/phase4_reports/2026-01/a920e9c2e3879f198dc700d041344229e7ffb438/4Q25%20Management%20Report.pdf)[Original guidance](https://pr.tsmc.com/system/files/newspdf/attachment/879bc25bc117df89986cafabe73f40d89f48a2c9/4Q24%20%28E%29_with%20guidance_final_wmn.pdf)\nSubtracting the published figures puts actual spending US$2.90 billion above the lower bound and US$1.10 billion below the upper bound; the original guidance was a range.[Actual](https://investor.tsmc.com/english/encrypt/files/encrypt_file/qr/phase4_reports/2026-01/a920e9c2e3879f198dc700d041344229e7ffb438/4Q25%20Management%20Report.pdf)[Original guidance](https://pr.tsmc.com/system/files/newspdf/attachment/879bc25bc117df89986cafabe73f40d89f48a2c9/4Q24%20%28E%29_with%20guidance_final_wmn.pdf)\nThese two releases do not allocate all capital spending to named customer orders.[Source](https://investor.tsmc.com/english/encrypt/files/encrypt_file/qr/phase4_reports/2026-01/a920e9c2e3879f198dc700d041344229e7ffb438/4Q25%20Management%20Report.pdf)[Source](https://pr.tsmc.com/system/files/newspdf/attachment/879bc25bc117df89986cafabe73f40d89f48a2c9/4Q24%20%28E%29_with%20guidance_final_wmn.pdf)",
  "facts": [
    {
      "claim": "2025 actual consolidated capital expenditure",
      "value": "US$40.90 billion",
      "as_of": "2026-01-15",
      "source": "https://investor.tsmc.com/english/encrypt/files/encrypt_file/qr/phase4_reports/2026-01/a920e9c2e3879f198dc700d041344229e7ffb438/4Q25%20Management%20Report.pdf",
      "quote": "US$40.90 billion"
    },
    {
      "claim": "Original 2025 capital budget guidance",
      "value": "US$38–42 billion",
      "as_of": "2025-01-16",
      "source": "https://pr.tsmc.com/system/files/newspdf/attachment/879bc25bc117df89986cafabe73f40d89f48a2c9/4Q24%20%28E%29_with%20guidance_final_wmn.pdf",
      "quote": "US$38 billion"
    }
  ],
  "not_disclosed": [
    "The two releases do not map all capital expenditure to named customer orders; range differences are explicit arithmetic from the cited figures."
  ],
  "related_companies": [
    {
      "name": "TSMC / 台積電",
      "ticker": "TWSE:2330"
    }
  ],
  "verified_at": "2026-10-22T08:45:49.322696+00:00"
}