Huaxi Securities: AI power consumption continues to rise, accelerating demand for Agent explosion.

Huaxi Securities pointed out that driven by the AI industry, the scale of computing power is growing rapidly. Although the current electricity consumption of computing power centers in China accounts for a small proportion of the overall electricity consumption, it is still within the range supported by the power system in the short term. However, the proportion of electricity consumption by computing power in the overall electricity consumption is increasing, showing a rapid growth trend. In terms of policies, green electricity is expected to increase the capacity to meet the demand for computing power. With the popularity of the OpenClaw project, the demand for AI agents is expected to explode, and the explosion of token numbers is expected to further drive the demand for computing power, thereby increasing the demand for electricity.