The global AI competition is entering a new stage, shifting from "model competition" to "computing power competition".

After the concept of AI stocks and performance took off, the market also began to worry about the potential risks of bubble formation, including overvaluation, technological bottlenecks, and capital games. At this moment, Nvidia and OpenAI announced a stunning industry investment plan, with both parties investing billions of dollars to jointly build a 10 gigawatt super AI data center and plan to deploy millions of GPUs to support the training of the next generation of large language models. This major move further fueled market expectations for the future of AI computing power. Recently, several public fund managers interviewed by Securities Times reporters said that the global AI competition is entering a new stage, with features such as "super large scale, super high energy consumption, and super high investment" characterizing the AI infrastructure competition that is officially unfolding - from chips to liquid cooling technology, from computing power clusters to energy support, a global AI computing power industry chain is being fully activated. At the same time, the focus of competition between countries is quietly shifting from "model competition" to a more fundamental and core "computing power competition".