The Iran war has been ongoing for a month, and everyone is watching oil prices and chip transportation. But a more fundamental issue is quietly tightening: helium.

Qatar supplies about one-third of the world's helium, all exported through the Strait of Hormuz. After the strait was blocked, spot prices have doubled. Helium cannot be stockpiled; atoms are too small, and even the best containers will leak. Liquid helium containers have a shelf life of only 35 to 48 days.
Moreover, helium has no substitutes. The etching process in chip manufacturing requires helium to cool the wafers, with each wafer undergoing hundreds of etching cycles. TSMC manufactures most of the world's advanced AI chips, and nearly 70% of the helium used comes from the Gulf region. The upstream lifeline of AI computing power is directly exposed to this fractured supply chain.
Currently, no one has cut off supplies. But suppliers are already notifying customers to prepare for reduced quantities and price hikes. Korean chip manufacturers are rushing to buy U.S. spot helium.
Helium consulting firm Kornbluth says: "It's a sunny day on the beach, but the tsunami is already on its way."🌊