Yes.

And the US can’t realistically stop our well-funded homegrown AI Hardware startups from manufacturing with TSMC. This is part of why there’s funding from the EU to develop Sovereign AI capabilities, currently focused on designing our own hardware. We’re nothing like as far behind as you might expect in terms of tech, just in terms of scale.

Also, while US export restrictions might make things awkward for a short while, it wouldn’t stop European innovation. The chips still flow, our own hardware companies would scale faster due to demand increase, and there’s the adage about adversity being the parent of all innovation (or however it goes).