In any case, the new Intel factory would not be able to prevent a chip shortage like during the pandemic, when all over Europe production lines in automobile factories stood still due to a lack of chips. For the European industry, these chips with the smallest structure will probably be irrelevant for many years to come: They are hardly ever used in cars and machines, but are mainly installed in smartphones, game consoles and notebooks. The latter are known to be mainly manufactured in Asia.
In view of the growing importance of artificial intelligence and machine learning for Europe’s industries, too, it can still make sense to also locate “leading edge” factories in Europe. But if we are already spending so many billions of tax money on this, then please for a chip company that can demonstrably do it. Such as TSMC.