It could be extremely lucrative if they get it right.
Simply trying to copy TSMC would also be a poor strategy.
Companies have "core competencies" (or should). The manufacture (not design) of high-end silicon has never been one for any of these companies except Intel, and they have just lost big time.
… but the shareholders are global?! That’s not really a compelling argument unless you made it a requirement that all major/strategic companies must have 100% domestic ownership!
BUT - all you then need to do is create a Delaware LLC that buys the strategic stock, which is owned by $SCARY_FOREIGNERS
Companies are run to make a profit… they don’t care about sovereignty as long as the money is coming in.