For more than three years, AI has propped up global trade and investment and pushed stock markets from the US to Asia to record highs.
Investors have committed trillions of dollars to the technology, one of the most power-hungry inventions ever, on the assumption of ample energy supplies and a slick chip production line that can cross more than 70 borders before reaching the final consumer. But the Iran war is exposing fragilities in the AI supply chain.
First, east Asian nations at the heart of global semiconductor production are facing severe energy shocks.
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