Don't forget they have the competitive advantage of chiplets which enables higher yields, and the moat of the x86/AMD64 cross licensing agreement with Intel. I

Don't forget they have the competitive advantage of chiplets which enables higher yields, and the moat of the x86/AMD64 cross licensing agreement with Intel. Intel and AMD are effectively the only organizations that can legally produce modern x86 CPUs even if others had the technical knowledge to do so.