To be fair Toshiba's sale has nothing to do with their semi business (they lost so much money in their nuclear misadventure that they have to sell the only prof

To be fair Toshiba's sale has nothing to do with their semi business (they lost so much money in their nuclear misadventure that they have to sell the only profitable portion of their business to pay off remaining debts)...and the semiconductor manufacturing has been consolidating for 20 years. I actually think that there is a chance for some newer customers to spring up in China due to the massive investment being underwritten by the Chinese government. The existing companies involved in chip manufacturing will be kept from merging by regulatory fiat (see AMAT-TEL, Lam-KLA getting squashed on the equipment side)...there's no way that TSMC, Intel or Samsung will be allowed to buy any of their competitors, and they can't sell to China because of CIFUS (or the Taiwan/Korea equivalent) interference. This means that if China is serious about getting into wafer manufacturing, they have to start from scratch. Since NAND is likely supply constrained for at least another 5 years, there is a chance they can pull it off.