Investment Logic & Financial Ramp
- Deploy $3.0B over three years to secure advanced packaging and HBM supply for AI accelerators.
- Target $6.5B incremental revenue by FY2029E through unconstrained supply-chain fulfillment.
- Maintain 18% base-case IRR, with a 9% downside floor if AI demand normalizes faster.
| Metric |
FY25E |
FY26E |
FY27E |
FY28E |
FY29E |
| CapEx / Prepay ($M) |
1,000 |
1,000 |
1,000 |
0 |
0 |
| Revenue ($M) |
0 |
500 |
1,500 |
3,000 |
6,500 |
| Incremental GM |
0.0% |
48.5% |
49.0% |
50.0% |
51.0% |
Incremental Revenue Ramp ($M)
FY25E
FY26E
FY27E
FY28E
FY29E
Decision & Risk Guardrails
Ask
Approve Phase 1 diligence and negotiate option-based capacity structure.
Structure
Compare minority JV, prepaid capacity agreement, and targeted acquisition.
Risks
Technology transition, customer concentration, cyclicality, and supplier execution.