Spending is a great sign unless it leads to the next capacity bubble. Although it seems to make sense to expand in an upturn, history tends to show that investing in the downturn pays off better in the long run. TSMC invested more in 2009 and 2010 during the downturn.
It occurs to me that with all this competitive landscape changing before our eyes that Sumsung might want to acquire AMD. They do use Intel X86 silicon and plan to continue to do so for some time at least. Besides rolling their own for internal consumption they could also pull in some pretty change from the X86 merchant market.
Interesting to see the negative 18% from TSMC. I wonder if there is any correlation between this chnage and their current 28nm process problems - http://www.eetimes.com/electronics-news/4234961/TSMC-manufacturing-process-in-trouble.