[CamperBob2]

As long as the semiconductor fabs are running at capacity, yes, it's one big zero sum game. If you win one chip, I lose one chip, and vice versa.

This situation is temporary, of course. China previously had a large incentive to get their own leading-edge nodes into production, and now they have a Manhattan Project-size incentive.

[astrange]

They aren't running at full capacity on AI chips though - TSMC's main customer is iPhones as far as I know. So you could take away production time for them, though it's still zero-summy.

But TSMC is building new leading edge fabs right now.