SemiAnalysis published an interesting piece about this recently: https://newsletter.semianalysis.com/p/how-to-kill-2-monopoli...

"Substrate isn’t stopping there. They intend to run the tools in their own fabs rather than sell to 3rd parties."

A bonkers idea if true. Trying to create TSMC and ASML in one company doubles your challenges. We've seen just how hard Intel has found being a fab and they are using ASML machines.....