[dustyventure]

But where is TSMC going? As far as I can understand it, they would need to rely on geopolitical argument to take customers away from TSMC and I think that's either ultra low volume or a frigid global environment where global trade is winding down.

[bgnn]

Yeah only viable way is to be able to compete with TSMC. This requires 10s of billions of dollars of investment (capex amd NRE). This can work if Intel foundry is independent and open to do business with everyone. Apple loves to have a second supplier, nVidia too would love the extra capacity.