If Intel’s new EU fabs operate under the TSMC foundry model, is that not a good thing for the EU? Let’s say I’m a smaller company in France looking to get a chip made on a bleeding edge node. I don’t have existing contacts in Taiwan. Surely I just go next door to Intel, right? If Global Foundries couldn’t pull off the leap to 7nm even with ASML next door, who do you suggest is capable of doing so other than Intel, Samsung, and TSMC, and is EU based?

I have some confidence that the EU would set favourable terms for given the level of investment.