According to TechInsights, Chipzilla’s $16.55 billion R&D spend topped the likes of TSMC, Samsung, and Nvidia. The difference is that Chipzilla continues to stumble when it comes to delivering a proper breakthrough, particularly with its hyped 18A node.

Former boss Pat Gelsinger promised the foundry division would pump tens of billions into new processes. The result so far has been unstable yields, limited production capacity, and a division posting operating losses for multiple quarters.

Samsung blew $9.5 billion on R&D last year, a 71 per cent jump compared with 2023, to stay in the 2nm race with GAA technology. Like Chipzilla, it has little to show in real-world products. Nvidia managed $12.5 billion in spending, while TSMC trailed in seventh place with just $6.36 billion, despite producing the most advanced silicon anyone can buy.

The US government still considers Chipzilla a strategic asset and wants it to keep shovelling money into labs in case it one day pulls off a proper breakthrough. For now, though, its rivals are pressing ahead with 2nm ambitions while Chipzilla’s 18A project continues to look like a very expensive science experiment.