At what margins though? You're spending billions of dollars on a fab these days, with the hope of getting maybe 30-40% gross margins (unless you're Intel), with

At what margins though? You're spending billions of dollars on a fab these days, with the hope of getting maybe 30-40% gross margins (unless you're Intel), with far lower net margins. The reality of operating a foundry is that merely breaking even takes a lot of skill and even a little luck. Compared to that, a billion dollars in cash doesn't sound too bad.