Citi: "Intel Foundry Has Proven Over [The] Years It Cannot Compete With TSMC, And Forcing A Company To Use Vastly Inferior Manufacturing Would Destroy Shareholder Value"

Intel Needs EUV Lithography, The Machines come from ASML in the netherlands,the Optics from Zeiss in Germany. a joint Venture is a backup strategy to not lose access to the technology, by some trump fuckup like the recent Tarrifs. TSMC will continue to have access to this stuff becaue Europe uses this technology as a lever to secure Taiwan,since China wont attack Taiwan as long as attacking means losing the next 5 generations of chip manufacturing. You can see similar Strategies by other companies like Nintendo manufacturing in Vietnam to bypass tarrifs on importing from china.while Nintendos strategy backfired because of the tarrifs on everything the JV could actually work.