You need to look at how this market really operates. You have massive massive up front capital investment, you spent tens of billions of dollars designing a chi

You need to look at how this market really operates. You have massive massive up front capital investment, you spent tens of billions of dollars designing a chip plant, and then billions more actually building one, and at the end of that 10 year long multi-billion dollar process you get 1 chip out of it. If that chip is better than your competitors the entire fabless semi-conductor industry is going to trip over itself bidding up your capacity and turning your investment massively profitable. If your chip is worse than your competitors you have to sell capacity at practically any price to recoup any possible return. And whoever did a good job? Well they've got billions to plough into the next process node. The company that did a bad job? Well now they need to go out into the market and try and get funding to make that entire bet again - but this time with a track record of failure. What's the likelihood a company coming from 0 can make all that work, with no existing assets to secure debt financing for the investment? It's also important to understand what the US is paying for here. They're not paying Intel to make chips, they're paying Intel to make chips in the US as a geopolitical strategy. Intel will make these chips either way, but this action from the US means that Intel is continuing with their US fab plans whilst for example, dumping their EU plans.