They had already developed the node, or in any case, IBM had (and they purchased the IBM fab research division). But they didn't have the capital to scale out.

They had already developed the node, or in any case, IBM had (and they purchased the IBM fab research division). But they didn't have the capital to scale out. They decided it would be more profitable and less risky to stay on 14nm and serve the long tail of customers that don't use leading edge nodes.