I'm talking about the movie Now You See Me 2 Spoilers ahead.
Walter (Daniel Radcliffe) gave the task or blackmailed the Four Horsemen to steal a chip from a lab which can access any digital device. So they did steal the chip. And when they rescue Dylan Rhodes (Mark Ruffalo) from drowning in the water, Jack Wilder said that the chip is fake.
Jack: Wait something is not right.
Atlas: What's wrong?
Jack: It's fake.
Then they assumed that Walter did not know that the chip is fake. So they came with a plan to bluff. They pretended that they had the real chip. After they got caught by Walter, they gave the fake chip to Walter. Walter checked the chip and declared it as real. The Four Horsemen were surprised.
Walter: I'm sorry to interrupt. But I have to say congratulations and thank you. It's real.
Lula: What? It's real!!!!!
Atlas: What? Is it real?
Jake: What is he talking about?
What happened? I didn't get it. What did I miss? Was the chip real? Was Walter pretending it to be real? If so, then why? If not, who switched the real chip with the fake one? Who had the real chip before?