Malaysia’s semiconductor sector contributes close to 25% of exports and closed a record RM3.1 trillion in trade performance in 2025. But, despite strong growth and semiconductor exports rising 15.7% in Q1 of 2025, most of the value still sits in assembly and testing. As global supply chains face rising pressure, from energy shocks to trade fragmentation, the real question is whether Malaysia can move upstream and own more of the technology stack. Tehmina Kaoosji speaks to Dr Amani Salim (former NASA scientist) and Iqbal Shamsul (former Wall Street trader) of nanoSkunkWorkx, a Malaysian deep-tech company working on graphene applications in semiconductor manufacturing. If commercialised, this is the kind of shift that determines whether Malaysia can shape the next generation of chips. What will it take for Malaysia to convert R&D into real economic leverage in a market heading toward a trillion-dollar global industry, while navigating rising geopolitical and supply chain risks?