[Apollo: AI Computing Power Shortage Intensifies, Chips, Electricity, and Data Centers Become New 'Strategic Resources'] Apollo Asset Management highlighted in its latest report that the AI industry is shifting from a 'model race' to a 'computing power contest.' As inference models and intelligent agent applications expand, the computational demand for single tasks has risen significantly: intelligent agents repeatedly engage in planning, retrieval, tool invocation, and result validation, with token consumption reaching 100 to 1,000 times that of traditional chatbot requests. The report suggests that this round of shortages is not due to a single bottleneck but rather simultaneous pressure on GPUs, advanced processes, storage, electricity, and grid access. Apollo stated that the scarcity of computing power is redefining asset value, and the true competitive barrier will be whether companies can secure chips, storage, electricity, and data center resources in advance.