Why do leading ASICs manufacturers sell their chips?

I understand that some people have access to cheaper electricity than others. However why not just open mining facilities in the parts of the world offering the lowest cost structure? If that is not possible, then a joint miner with those miners would seem more profitable than selling the most profitable newly invented ASICs chips to the general public.

In some situations I know people will buy older ASICs miners that are no longer profitable for various reasons including a desire to help the network or speculating on future bitcoin price increases retroactively making the mining profitable. That is not my area of focus. I am more interested in why the newest most profitable ASICs chips are being sold.

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