[ElBarto]

Many, if not most, chip companies are fabless these days, including the very major ones (Broadcom, Qualcomm, Nvidia, etc. I think even AMD).

It means that they do not own any foundry/factory to produce chips.

They design chips then send the designs to a third party foundry for production, like you would perhaps do for PCBs.

[guan]

This is the case for the latest process nodes for the fastest CPUs. But even aside from memory makers, there are microcontroller and analog vendors who still run their own fabs. For example Texas Instruments, NXP, STMicroelectronics and Analog Devices.