Computing power is inherently an expensive debt, and electricity is the only creditor—does that hit home?

The competition in the AI industry has long been heating up. Everyone is competing in algorithms and applications, putting all their effort into these two tracks, but they overlook the most fundamental element: electricity.

To put it simply, without electricity, everything else is useless. Your top-tier chips become a pile of scrap metal. This is a physical constraint that cannot be changed.

So the question is—who will take on this wave of energy dividends? The old-era energy stocks are transforming into the tax collectors of the new era. They are not just showboating; they are truly opening the door to the AI computing power economy. Savvy investors have long been eyeing this sector. From an asset allocation perspective, while everyone is scrambling to compete on the same narrow path of applications, energy infrastructure is the overlooked new track. Have you calculated how much electricity an AI data center consumes in a year? That is the growth driver for the energy sector.