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Jensen Huang: Israel has become Nvidia’s second home
(en.globes.co.il)
This is a most excellent place for technology news and articles.
You’re not far off. It’s kinda like NVIDIA is the architect who designs the house while TSMC are the guys who actually build it.
The reason for that split is that maintaining fabs (the facilities which actually produce the chips with EUV machines) is insanely expensive and requires much different staff, resources, and expertise than doing the chip design itself.