The speaker estimates that semiconductor fab construction costs have doubled every four to five years over roughly the past 20 to 40 years, in an extremely capital-intensive industry.

“Like I ex- described earlier, this is an extremely capital-heavy business, and if you look at the-- if you just plot the, you know, how much does it cost to build a fab, and if you just, over the last, I don't know, twenty, thirty, forty years, I think it's, like, doubling every four to five years.”