Semiconductors that can handle AI workloads are in demand for data centres and autonomous vehicles. VC funds are backing their manufacturers like never before.
The rumoured takeover would bolster Intel's chip building capabilities as it looks to transition to a new manufacturing model.
As more vendors - and the cloud providers themselves - develop custom silicon, businesses are benefiting from lower costs and increased performance.
Buyers already facing rising semiconductor costs may also have to foot the bill for excluding China from the chip supply chain.
US chipmakers call for more state aid while Google and Microsoft voice their opposition to Nvidia's Arm takeover bid.
Joe Biden's manufacturing policy could help the US semiconductor industry regain lost ground although Taiwan's TMSC may benefit the most.
The UK's competition authority has invited comments on the chipmaker's mega deal. Many more obstacles are likely to follow.
Apple used its One More Thing event to launch the M1, a new Arm-based chip that will be used in three upcoming devices.
Trump pushed US-China relations to their lowest point in years. Now, China is doubling down on its drive towards technological self-sufficiency.