The skills and risks in different parts of the chain are different. Having access to excellent photo-lithography machines is not enough to guarantee having an e

The skills and risks in different parts of the chain are different. Having access to excellent photo-lithography machines is not enough to guarantee having an excellent foundry or process - that much should be evident from ASML supplying TSMC and Intel, and observing Intel's struggles with 10nm. The machines ASML produces allow you make ultra precise and tiny patterns of material. You still need to choose what those materials are, figure out how you're going to create the material (as in what dopants are you adding in what quantities), what your geometry actually is, and on and on and on.