Advanced Micro Devices Inc (AMD)

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"A new fab today costs over 2 billion dollars. These are fixed costs that are the same whether you're AMD or Intel "

This is not correct.
If Intel wants to build a $2 Billion fab, they take the money out of their bank account and spend $2 Billion.
If AMD wants to build a $2 Billion fab, they sell paper bonds, they negotiate loans, etc. and build that fab with other people's money.
The cost to AMD is ZERO.