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Could entire PCBs be replaced by on-wafer designs in certain applications?

I know you meant SiP or ASIC based on the other comment. But for wafers there are some developments too, wafer scale has been tried, though there are various eg power and economic challenges for easy adoption: https://www.eetimes.com/startup-spins-whole-wafer-for-ai/

You mean like SoCs or SiPs? https://en.wikipedia.org/wiki/System_on_a_chip https://en.wikipedia.org/wiki/System_in_a_package

Yes, exactly. Would be awesome if those could be designed/ordered as easily and cheaply as PCBs.

Zglue does exactly that but for things like microcontrollers and sensors. Maybe one day it will come to high-end chips.

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