With everyone so mesmerized by silver-tongued AI chatbots, it's easy to forget that most flashy breakthroughs in science and technology depend on much less glamorous advances in the fundamentals of computing--new algorithms, different computer architectures, and novel silicon chips. The US has largely dominated these areas of innovation since the early days of computing. But academics who study advances in computer science say in a new report that by many measures, the US lead in advanced computing has declined significantly over the past five years--especially when measured against China. It's well established that America no longer manufactures many of the world's most advanced computer chips--a process that involves carving insanely intricate patterns into silicon with devilishly difficult techniques. This is why the US government created the CHIPS Act--a $52 billion package aimed at revitalizing domestic chip-making and related technologies.