Rory Stewart

I don't think...

Not to my knowledge, no.

Because there was just lots of companies tried.

We'll talk about the technology.

So imagine these machines.

They're so big they have to be moved in several Boeing 747 jumbo jets.

And what they are doing is etching designs of chips that are, if you look at your fingernail, see how much it grew in the course of a second?

That's how fine these huge machines are etching chips.

It involves these incredible processes like firing little drops of tin, 50,000 of them per second, that get zapped three times in order to generate the ultraviolet light that is creating these etchings.

So it's just extraordinarily difficult technologically.

Many companies tried, they all failed apart from this one company.

Similarly with TSMC, producing these computers.

The Taiwanese company produces 90% of the Frontier chips.

Again, it's just very hard.

Many companies have failed.

I mean, they have far more bargaining power than they know.

And with the export controls, ASML and the Netherlands, they got really trounced by them.

And they got browbeaten by the United States, to be honest.

But they could.

And it's not just them.