AMD spun off its fabs because they actually had good designs but couldn’t keep up in manufacturing. TSMC and ARM had different business models. Now, Intel never

AMD spun off its fabs because they actually had good designs but couldn’t keep up in manufacturing. TSMC and ARM had different business models. Now, Intel never had the best designs but they had the best manufacturing. Now they are third place in both. Third place but spending as if it’s going to continue to dominate for the next decade. What’s going to happen when it writes off an entire fab?