Let’s count all the money
US Govt
Softbank
Nvidia
and let’s even fantasize about AMD running some mini whale low volume chip on 18A-P (awful quiet that deal isn’t it?)
The trouble is Intel won’t be breaking even again until multiple whales are signed on and shipping high volume, which at best will be 14A in 2030. At best.
When you need runway til 2030 all that stake money actually isn’t that much.
Any turnaround is far from accomplished.