On May 12th, the Bureau of Industry and Security under the U.S. Commerce Department issued “guidance", stating that using Huawei's most advanced AI chips "anywhere in the world" may violate U.S. export controls. China immediately condemned the move, vowing to take resolute measures to protect the legitimate rights and interests of Chinese companies. Days later, the U.S. removed the line about "anywhere in the world," but still warns "all persons and companies in the U.S. and abroad" against using "PRC-produced" advanced chips. What does this latest "land grab" mean for businesses and the AI sector around the world? Will it succeed in containing China's development or has that train already left the station? How can companies respond to Washington's latest threats and intimidation?