[vineyardmike]

I think we forget that Silicon manufacturing is planned a lot farther out than Silicon shopping.

They were likely trying to make TSMC purchase orders in the start of the pandemic, before a crypto boom. They also tried to handicap their GPUs wrt crypto. They likely didn’t expect the absolute shit show of a chip shortage (because who predicted or understood the pandemic early).

The rest of the market was desperate, and they probably expected it to be more robust than it ended up being. The merge would have been so far away at the time that they wouldn’t predict if it would happen at all nevermind when.