AMD doesn't have the burden of capital expense that a fab is. It did take several years for AMD to capitalize on the freedom this enables though. As far as I

AMD doesn't have the burden of capital expense that a fab is. It did take several years for AMD to capitalize on the freedom this enables though. As far as I know Intel is the only company left that is vertically integrated. This might be the last domino to fall. Arrow Lake uses TSMC heavily. Maybe that's a sign of things to come. Andy Grove said only the paranoid survive. It didn't seem like Intel management was that paranoid. They didn't invent 64bit x86, had to license it from AMD. Spent so much money on stock buy backs, when it should have been funneled back into the fab, getting yields up on the next process node. It's easy for me to be an armchair quarterback though, I'm not aware of everything that happened behind the scenes. I saw D1X being built, and the future seemed bright.