And TSMC do business, it doesn't matter where the money comes.
Of course it matters where the money comes from. If propping up Intel helps Intel roll out 2nm GAAFETs earlier than later, maybe TSMC is going to think twice about helping Intel maintain/restore their core revenue stream. TSMC's motives are a bit off-topic, mind you, but wrt
anyone Intel out of their mess, it's going to take some major cash and other concessions for the pure-play fabs to want any part of it.
If all Intel does is take outside wafers for their dGPUs where they aren't an established player, then sure, maybe.
Other what Gelsinger said : Intel designs are free to use best manufacturing process available, from Intel itself or from the foundries. So if they aren't also trying to get best possible process as soon as possible they aren't executing properly.
That's an extension of the idea that Intel designs aren't somehow locked to a specific node anymore, starting with Sunny Cove. Which, after Rocket Lake, I'm beginning to think is more smoke and mirrors than truth.