BREAKING: Goldman Sachs names Elon Musk’s Terafab as a major new driver of chip-equipment growth.

Goldman included Terafab’s roughly $16.8B first-phase buildout in its Logic & Other forecast and says the project accounts for most of the added growth in this segment.

Goldman believes Terafab’s impact is still in its early stages, with room for further forecast increases as later phases move forward.

Goldman raised its global wafer-fabrication equipment forecasts to:

• $150.3B in 2026, up 36% YoY
• $217.5B in 2027, up 45%
• $280.9B in 2028, up 29%

The firm says growing AI demand is driving higher spending across DRAM, foundry and logic chips.