> The EU has a great opportunity to enter the market:

You can't just get into RAM manufacturing overnight whenever you feel like it, like you're building washing machines. You need a lot more than just ASML machines, you need the supply chain, the IP, the experienced professionals with know-how, the education system, the energy, the right regulations, etc.

The EU exited the RAM manufacturing business a long time ago when RAM prices sunk, see Qimonda, meaning it would be a long, expensive uphill battle to get back in, and currently EU has no major semiconductor manufacturing ambitions, or ambitions in commodity hardware manufacturing of any kind, so that's not gonna happen.

Of course, RAM is no longer a commodity right now, but nobody can guarantee it won't be again when the AI bubble burst and RAM prices crash, so spinning up the know-how, manufacturing facilities and supply chains from the ground up just for RAM is insanely expensive and risky and might leave you holding the bag.

> it's a high-tech manufacturing job, not something that requires lots of cheap labor.

Except semiconductor manufacturing DOES require cheap labor relative to the high degrees of skills and specialization needed at that cutting edge. Unlike in Taiwan, skilled STEM grads in the EU (and even more in the US) who invest that time and effort in education and specialization, will go to better paying careers with better WLB like software or pharma, than in hardware and semi manufacturing that pays peanuts by comparison and works you to death in deadlines.

Also, profitable semi manufacturing requires cheap energy and lax environmental regulations, which EU lacks. So even more compounding reasons why you won't see too many new semi fabs opening here.