IBM has always developed the base process technology for its own server business and continues to do so - thus this 2nm breakthrough, which is legit. As early in the 2000s its proprietary processor volumes were insufficient to offset the skyrocketing costs of fabrication - just think about the huge cost bump in the migration from 200mm to 300mm fabrication -, IBM first designed the processors and operated as a foundry for Nintendo, Sony, MS Xbox plus Apple (as it was running on PowerPC). Aggregating these volumes added to its own proprietary needs, IBM could amortize the capex needed to support the processing and fabrication cost for its own server business that was extremely profitable (mainframes, UNIX servers) even if the IBMs server processor volumes were no match with X86. On top IBM's processor R&D delivered the process technology that went into AMD, Samsung and STMicro in a development alliance. Once Apple defected to Intel for its Macs and the console businesses (Nintendo, XBOX and Sony) eventually migrated off too, IBM could not simply offset those volumes and lost cost competitiveness. Thus the spin-off of its CAPEX hungry fabrication business, pooled fabs together with AMD fabs, sold off to Mubadala who created Globalfoundries.
Even then, Globalfoundries and Samsung would rely on the continued output of IBM Process Technology R&D to get below 10nm. Once GF de-committed the sub 10nm roadmaps, IBM, who needed sub 10nm for the competitiveness of its servers, collaborated with Samsung and enabled Samsung to compete with TSMC. Remember Smasung was king in memory, not so much in logic. Fact is, today's IBM Mainframe and Power Processors are fabricated at Samsung.
IBM never abandoned its R&D efforts - nor would CFIUS probably ever have agreed to the Mubadala transaction, had it included the R&D portion. Net - IBM is more than legit in process technology. Its processor technology and design teams are second to none. IBM just monetizes its investment in mainframes, Unix servers and related SW stack - for those of you who read an I&E and a balance sheet, these are two of the most profitable HW businesses to this day.
If I were Hitachi, Fujitsu and the Japanese government and wanted to catch up on fabrication and logic processor technology, IBM would be a prime address to call on.