Helium, a crucial ingredient in semiconductor manufacturing, has become a key topic in the tech sector due to the potential implications of a prolonged Iran war. The world's second largest supplier, Qatar, has been unable to export helium due to Iranian strikes and its supply capacity being hampered by the conflict. This has led to a shortage of helium, with North America holding the largest share of the market. Helium producers in North America are set to benefit from this, but Russia, the third largest helium supplier, could also gain. While sanctions and trade restrictions in Europe and the US hamper access to Russian helium producers, other major chipmaking countries like China have been increasingly relying on Moscow. If prolonged conflict continues, prices will likely remain high and leave some helium buyers scrambling to diversify sourcing.