Swimmers win Russia another bronze
In the battle for gold, the Americans were in front from the beginning, until Yannick Agnel pulled ahead of Lochte on the final leg.
The French team of Amaury Leveaux, Fabien Gilot, Clement Lefert and Agnel came home in 3 minutes 9.93 seconds, beating the US by over a second.
Despite missing out on victory, Phelps took another step towards becoming the most decorated Olympian in history.
The relay silver is his 17th career Olympic medal and the 27-year-old is now just one behind the record held by Russian gymnast Larisa Latynina.
As for Russia, after two days of action in London the team has one gold and three bronze medals.