Goldman Sachs significantly raised its capital expenditure forecasts for TSMC in its latest research report, increasing them to $85 billion for 2027 and $98 billion for 2028, a substantial increase from previous estimates. Concurrently, Goldman Sachs anticipates that TSMC's potential new plant in Texas will not enter mass production until after 2032, indicating that the current expansion cycle will extend far beyond market expectations. The report maintained a "Buy" rating on TSMC, raising its 12-month target price for the Taiwan-listed shares from NT$3,100 to NT$3,300, and its target price for American Depositary Receipts (ADRs) from $620 to $660.