For the first interview of the AI Power Podcast, Chris McGuire of the Council on Foreign Relations and formerly of the White House National Security Council for a conversation on AI and Semiconductor export controls. A shocking release of updated Commerce Department guidance reveals that it has not been enforcing U.S. export controls on sales of AI chips to international subsidiaries of Chinese companies for more than a year. The Commerce Department has moved quickly to close this loophole but left another one open that is just as big. Chris and Greg unpack what this means and where we go from here.