In this episode of Agora, we explore how memory shortages, industrial policy, and national strategy are reshaping the future of compute. The global AI supply chain is under pressure, with high bandwidth memory emerging as the critical bottleneck that could slow the pace of model training. At the same time, SMIC is advancing production despite heavy restrictions, signaling that China is determined to push through technological ceilings. U.S. export controls add another layer of complexity, functioning as both a weapon of leverage and a risk of unintended acceleration for rivals. Together, these forces reveal a fragile equilibrium where geopolitics and hardware innovation collide.
