Newest-generation semiconductors have a heat dissipation problem. Copper and aluminum are insufficient to cool the stacks of superfast GPU's, so chipmakers are turning instead to manmade diamonds. China produces two thirds of all the lab-grown stones in the world, and has strict export controls on the capital equipment to manufacture them. The high demand from the Artificial Intelligence industry has placed a floor under prices for manmade stones, and the shares of Chinese diamond makers are surging. Meanwhile, the natural diamond industry is collapsing, as jewelry buyers opt for lower-priced stones, which also come without the "blood" or "conflict" stigmas. Closing scene, Nanjing Resources and links: Jensen Huang Sparks AI Cooling Revolution as China's Henan Lab-Grown Diamond Army Charges Into a Trillion-Yuan New Frontier https://finance.biggo.com/news/BMLje54BmHHDnbgyKAKv Diamond-cooled AMD Instinct MI350X servers get major $300 million customer https://www.techspot.com/news/111561-diamond-cooled-amd-instinct-mi350x-servers-get-major.html The Resurgence of Lab-Grown Diamonds https://eu.36kr.com/en/p/3828329830912641 AI adds sparkle to synthetic diamond sector https://www.chinadaily.com.cn/a/202607/29/WS6a6957f7a310986e2b467e0c_1.html China’s lab-grown diamonds get an AI boost as industry rides demand for chip cooling https://www.scmp.com/economy/china-economy/article/3363310/chinas-lab-grown-diamonds-get-ai-boost-industry-rides-demand-chip-cooling China announces artificial diamond export curbs set to take effect day before US tariff truce deadline https://www.reuters.com/sustainability/boards-policy-regulation/china-announces-artificial-diamond-export-curbs-set-take-effect-day-before-us-2025-10-09/ China Suspends Export Controls on Certain Critical Minerals and Related Items https://www.pillsburylaw.com/en/news-and-insights/china-suspends-export-controls-certain-critical-minerals-related-items.html China’s Lab-Grown Diamonds Emerge as Unlikely Winner in AI Boom https://www.bloomberg.com/news/articles/2026-06-02/china-s-lab-grown-diamonds-emerge-as-unlikely-winner-in-ai-boom China’s Lab-Grown Diamonds Aid Chipmaking in AI Boom https://humanprogress.org/chinas-lab-grown-diamonds-emerge-as-unlikely-winner-in-ai-boom/ What's behind the diamond downturn? https://www.marketplace.org/story/2026/07/30/why-mined-diamonds-are-losing-value The diamond market has been upended by the lab-grown craze. Some fear it may never recover. https://www.businessinsider.com/diamond-market-prices-record-low-lab-grown-stones-marquise-cut-2026-7 ROUGH DIAMOND PRICE INDEX https://www.paulzimnisky.com/roughdiamondindex Could a diamond wafer as wide as a basketball be China’s trump card in AI race? https://www.scmp.com/news/china/science/article/3357157/could-diamond-wafer-wide-basketball-be-chinas-trump-card-ai-race BBC, 'By the grace of God': Miners dig on as lab-grown diamonds change market https://www.bbc.com/news/articles/czx2jqvwp7go Bloody Diamonds: How Your Engagement Ring Helps Fund a Genocide in Gaza https://www.unz.com/article/bloody-diamonds-how-your-engagement-ring-helps-fund-a-genocide-in-gaza/ The Hidden Cost of Jewelry https://www.hrw.org/report/2018/02/08/hidden-cost-jewelry/human-rights-supply-chains-and-responsibility-jewelry China and Africa are destroying the DeBeers diamond cartel youtube.com/watch?v=V7tGZzwe4mQ&feature=youtu.be The 2024 Diamond Crisis: An Industry at Its Breaking Point https://rapaport.com/magazine-article/the-2024-diamond-crisis-an-industry-at-its-breaking-point/ U.S.-Israel Trade Is Dominated By Diamonds https://www.forbes.com/sites/kenroberts/2017/05/22/for-first-time-in-25-years-israel-not-no-1-provider-of-u-s-diamonds/