I don't see how you could manage that. The economies of scale in steel production alone would be hard to replicate, and an individual state-of-the-art semiconductor manufacturing plant costs more than that. It takes a planet of billions to support our technology level.
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Why would it be oligopoly pricing? Few chip producers mean few buyers of fab construction, not few sellers of fab construction. Semiconductor fabs cost money because they require insanely precise equipment that experts in eg academia can't reproduce.
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We can check this claim by looking at the pricing of the secondary market, for Fab equipment that is out of date but still better than what's used elsewhere. This is still very very expensive (100s of millions).
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Not, it's not oligopoly pricing. It's that semiconductor manufacturing facilities have to do astonishingly complicated work at insane tolerances. They legitimately aren't going to be cheaper any time soon.
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