> Do they license this out to fabs?

Broadly speaking yes, this is the business model. IBM has been at this for many years with technology transfers, licensing agreements, support and other arrangements. Rapidus, Samsung, GlobalFoundries, ST, SMIC, AMD, etc. have all used IBM R&D work at various times for various nodes and products.

The cutting edge of semiconductors is a writhing mass of copulating tapeworms, and IBM lives deep inside that ball. For IBM, what this means is that when you buy one of the ASML machines to make products with this process, you'll pay IBM for the knowledge and support to actually get it working, or give them a cut, or something else, TBD, as circumstances warrant.