Foreword: When "Deep" Meets "Open," the World Splits into Two Cost Logics Standing at the end of 2025, the "China-US Power Comparison Chart" reveals the most hidden undercurrent of the global economy in 2026: China's newly added power generation capacity is nine times that of the United States. This implies that the global AI race in 2026 will present a peculiar dislocation: United States (Silicon Valley):  Possesses the strongest brains (algorithms) but is trapped by an expe

"Chip-collateralized financing, AI compute economy: The internal circulation among Nvidia, Oracle, and OpenAI." This phrase accurately depicts a tight-knit and symbiotic business model that is currently forming among AI giants. This is not merely a simple supply chain, but a powerful strategic closed loop and ecological alliance. Let's break down in detail how this "internal circulation" operates, and the role and interests of each company within this cycle. I. Role Breakdown

NVIDIA officially surpassed a $4 trillion market value on July 9, 2024 , overtaking Apple and Microsoft to become the world's most...