When asked: How can America win? Elon Musk thought for three seconds and said: 'China's electricity generation is three times that of the U.S.' In Jensen Huang's 'five-layer cake,' energy is at the very bottom. Chips, models, applications—all sit on top of it. China: 10,583 TWh. U.S.: 4,520 TWh. China generates more electricity than the U.S., EU, and India combined. 1 gigawatt of power = $60 billion GDP. Musk isn't talking about electricity. He's talking about the foundation of AI competition. Whoever has electricity has the right to talk about computing power and competition. The ultimate winner in the AI race is self-evident.