Compute power large single frequency appears, leasing market entering scale growth period.

In the second quarter of 2026, the A-share market has seen a frequent appearance of large-scale computing power deals, with billion-level and hundred billion-level agreements and long-term contracts becoming mainstream in the market. It is worth noting that even traditional industries in the new energy and entertainment sectors have entered the computing power race. Behind the mass landing of computing power projects and the concentrated entry of cross-industry enterprises is a multiple resonance of industrial ecology, market demand, and top-level policies. Currently, the domestic computing power industry has moved away from speculative concepts and entered a phase of transformation towards large-scale landing and standardized development. The industry structure is accelerating in hierarchical iteration, and the characteristics of high-quality development are becoming more prominent.