Semiconductors, or microchips, have become the modern world's equivalent of oil, serving as a vital and limited resource. Today, military, economic, and geopolitical strength is intricately tied to these computer chips, a connection that has only intensified with the rise of AI. However, the supply chain is highly consolidated, with just a few countries and companies holding significant control. Similar to the centrality of oil in the past century, chips now occupy a central role in geopolitics, great-power rivalries, and trade, notably between the US and China. How did semiconductors attain such critical importance, and why have their supply chains become so concentrated? Join Paul Chapman for a discussion with Chris Miller, economic historian and author of "Chip War: The Struggle for the World's Most Vital Technology," a New York Times bestseller, as we explore these questions and their implications for our future.