America’s response to China’s rise in semiconductors and artificial intelligence has been reactive, timid and structurally unserious. The U.S. is forfeiting a long-term strategic advantage. This isn’t about consumer-facing chatbots or viral image generators. Artificial intelligence isn’t a tech trend. AI infrastructure is a foundational technology platform. Whoever is first in infrastructure, adoption and standards will define the next economic era and shape the future of commerce, war and governance. In efforts to maintain America’s head start, U.S. policymakers are targeting graphics processing unit access and semiconductor tooling with a regime of ever-expanding export controls, with an emphasis on restricting...