The Most Amazing — and Dangerous — Technology in the World

“We rarely think about chips, yet they’ve created the modern world,” writes the historian Chris Miller. He’s not exaggerating. Semiconductors don’t just power our phones and computers; they also enable our cars, planes and home appliances to function. They are essential to everything from developing advanced military equipment to training artificial intelligence systems. Chips are the foundation of modern economic prosperity, military strength and geopolitical power. But semiconductors are also part of one of the most concentrated supply chains of any technology today. One Taiwanese company, TSMC, produces 90 percent of the most advanced chips. A single Dutch firm, ASML, produces all of the world’s EUV lithography machines, which are essential to produce leading-edge chips. The entire industry is built like this. That doesn’t just make the chip supply chain vulnerable to external shocks; it also makes it easily weaponizable by the powers that control it. In October, the Biden administration banned expo