Various U.S. export restrictions and sanctions have hit China's semiconductor industry which was already seen as generations behind other countries. Now Chinese firms appear to be making sanction-defying progress in chips, but there are some big challenges to overcome. 0:00 - Sponsor 0:30 - Welcome 5:20 - Stat of the week 6:16 - Why semiconductors are so important 7:19 - How the US limited Chinese access to chip technology 9:11 - The complexity of the chip supply chain 12:15 - ASML's role 15:29 - SMIC's challenge 18:30 - Looking ahead to the future 20:12 - How far ahead is ASML? 21:57 - Bitcoin rally 23:40 - Neuralink 26:50 - Sony 29:27 - Lockbit hack 32:42 - Sora 36:36 - Stat of the week reveal