great answers but as far as I can see the part about designing the chip – meaning to figure out what transistors to put on the sillicon chip to make it do the intended task. A big group of ppl has to spend a lot of time to figure that out. Which for big chips cost many many millions of dollars in salary, many complicated and specialized software and 12-15 months of time or more. And if there is a mistake in the design(happens on every design), have to go through the whole process again.
Also I posted this as reply to one of the first answers to original post, which had a great breakdown of the process but somehow the answer (not mine) was removed by moderators
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