Chennai, June 1 -- Recently, J.D. Vance, the US vice president, confirmed what the world feared. He termed the competition between the US and China in developing artificial intelligence (AI) as an 'arms race'. Policy makers in both the countries believe that whoever wins this race will dominate the world, going forward. At the core of this battle is computing power and this has given a fresh impetus to the chip war that began between the US and China five years ago.

In May 2020, during his first term as the president of the US, Donald Trump fired the first salvo. The US commerce department added Chinese tech giant Huawei Technologies to the 'Entity List', a measure which prevented the company that sells smartphones, telecom equipment and...