The U.S. men’s water polo team is one win away from the gold medal game of the Paris Olympics. The only team standing in its way is the two-time defending gold medalists.

Serbia reached the semifinals thanks to a buzzer-beating goal by Nikola Jaksic to beat Greece, 12-11, in the quarterfinals on Wednesday.

Even though they’ve won the last two Olympics, the Serbians haven’t finished better than fourth in the last three world championships. They have seven players making their Olympic debut.

"After Tokyo, many of the players have not played for the national team and this is not the same team,” said Serbia coach Dejan Savic. “We are the same name, playing with the same pride, with the same thought, with the same energy, but it's not the same team.”

On the other hand, the U.S. has been winning with experience. While none of the players on this year’s team has an Olympic medal, ten of 13 players are playing in at least their second Olympics.

The U.S. reached the semifinals with an 11-10 penalty shootout win over Australia. The two teams were tied, 7-7, at the end of regulation. 

“It was exhausting. Both of us fighting for our country, each trying to get to the semifinal,” said Marco Vavic, who scored the game-winning penalty shot for Team USA. “It's what we've been dreaming about since we were kids. Everyone put it down on the line… It's a dream come true to be able to get this far.”

With the win, the U.S. advances to the semifinals for the first Olympics since 2008. 

In the shootout, U.S. goalie Adrian Weinberg made two saves, and added 11 more in regulation. 

“Adrian Weinberg was a wall in there,” Vavic said. “We played some good five-man defense. We didn't let up too many goals when we were down a player.”

Vavic said he knows Friday’s game will be a battle. Even if Serbia has a different roster, they’re still the defending gold medalists for a reason.

“That'll be a battle,” Vavic said. “They've got a different roster now, but they’ve still got a lot of guys with a lot of experience… They have had some struggles, but that’s just kind of their theme. They have some real veteran players that are always top of the top.

“They're pros. We’ve got to bring our A-game and hopefully we come out on top.”

Friday’s semifinal will begin at 8:35 a.m. ET. 

Friday’s second semifinal will be a match between the last two world champions. Croatia won worlds earlier this year, and Hungary won in 2023.

Croatia reached the semis by upsetting previously unbeaten Spain on Wednesday in the quarterfinals. Hungary made the semis also with a penalty shootout win over Italy.

Friday’s second quarterfinal will begin at 1:35 p.m. ET.

In classification games to determine 5th-8th place, Italy and Spain will face off at 7 a.m. ET, and Greece will take on Australia at noon ET.