I read somewhere that some specialist types of fibre optic cables already make sense to make in orbit just for the microgravity, but I don't know if that was a proposal to try it or if they already do…
Alternatively I've seen some companies successfully rad-hardening from the software level. Effectively software that is tolerant to random bit flips.
Or work in a permanent shadow. Cosmic rays are easier to deal with than solar radiation.
There are sun synchronous orbits (and the orbit at the dawn/dusk terminator is an interesting one - https://en.wikipedia.org/wiki/Sun-synchronous_orbit ), but there isn't an easy orbit around the Earth such that it is always in shadow... or rather, that's the Earth/Sun L2 point... which is where the JWST is. At that distance you lose the magnetic shielding of the Earth (and makes it even more expensive to get materials to and from it).
For chip fab in particular, since current processes require a lot of water, and water is very good as radiation shielding, such a facility in space would probably just store water in the walls.
Right now, space manufacturing makes sense for exactly nothing. With enough research, it can in theory make sense for almost anything.
Seems like they are reliable enough for their job and just need the occasional reboot. For more critical systems you could probably get by with three computers voting on the result, and if they disagree the outlier gets rebooted (a fairly standard setup in aviation and space)
Fabs are probably the worst factories to put in space because of how much human adjustment they require. Also, the equipment is expensive and delicate, and redesigning it to work in space would be enormously expensive. It would be ruinous to lose one. They require tons of chemicals to work, that have to come from Earth, and produce a lot of nasty waste, which still have to dispose of in space.
They are testing various prototypes on the ISS since 2019. Apparently the fibre quality is great and better than what we can make on earth [1], and the current prototypes are about automating the process.
I suspect that once access to space (and space stations) becomes cheap enough we will identify a lot of manufacturing processes where gravity is detrimental, and where the end product is valuable enough that shipping to and from space makes sense.
1: https://www.nasa.gov/directorates/spacetech/flightopportunit...
Definitely an interesting problem to look into. :)