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$470 billion?!?!?!? What the actual fuck, how is a throwaway comment the first time I'm hearing about such a massive investment?
It's actually not that high in the context of building fabs. New ones always cost hundreds of billions, and the margins tend to be pretty thin, so companies make money by selling large volumes. This is why US investments in trying to reshore chips are so laughable, this article is a great explanation of how the industry works https://compactmag.com/article/fighting-a-chip-war-on-the-cheap