After the announcement by Jen-Hsun Huang that nVidia is discussing and considering working with Global Foundries during an Expreview interview (which was really a very well spoken threat to TSMC).

TSMC has announced they are looking to skip right over GlobalFoundries and move to 28nm. To do this they are pulling out all the stops and simply dropping 32nm HKMG.

This move, if it can be successfully completed, could impact GlobalFoundries future business especially at the 32nm Full Node. TSMC has already shown off a wafer produced using a 28nm process. So things could get interesting in the foundry world starting in 2010.

Read more here

This is a very aggressive schedule, and with all the problems TSMC had with 40nm half-node [again, TSMC didn't exactly deploy 45nm - they went straight for 40nm] - there is a mist of doubt above TSMC's ambitions. Brits would say that the proof is in the pudding, and TSMC proved its 28nm capabilities by demonstrating a 28nm wafer with 8MB SRAM structure in dual/triple oxide SoC technology. The demonstrated cell was measured at 0.127 micron squared with a raw gate density as high as 3900k gate/mm2