TPU's are vertically integrated. If I was an investor and Google said they are going to now compete with Nvidia and TSMC I would take that as a sign they the l

TPU's are vertically integrated. If I was an investor and Google said they are going to now compete with Nvidia and TSMC I would take that as a sign they the leadership has completely lost the ability to see what their core competency is. Investing 100-200+ billion into fabs just to be on an equal playing field, is not it. Would be a poor allocation of capital. Especially since, as they build up capacity for their own jobs, they get to see the excess to customers.