I think AMD is stuck. When a fab costs 10-20 billion and you're faced with companies as entrenched as TSMC and Samsung, it's going to take an entity fully backed by government money to be able to compete on the same level. The most likely candidate is China, since no other government is interested in investing money for long-term benefits other than them. Haven't they been buying up a lot of talent out of Taiwan in recent years? It's just a matter of time, imo.