Boca, you said ‘‘If EM have pumped 10s of millions into this, they'd have a bit of bargaining power with Fred.’’
No they do not - just the opposite;
1. They have spent many millions and built/contracted three fabs.But they do not have the means to produce a programmed, working chip- that remains within AKP. So they can’t go anywhere without AKP. And no one else in the world is able to it…
2. EM DOES NOT HAVE AN EXCLUSIVE MANUFACTURING MANDATE. AKP can contract any fab in the world if there are problems with EM
So, EM is the vulnerable party. AKP has the advantage if need be.
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