When Silicon Valley builds an AI arms race with graphics cards, the real trump cards in Europe are actually the century old expertise in power grids, regulation, and commodity markets. The debate over computing power is not just about who can create GPUs, but also about who can make the process of transforming electricity into intelligent public infrastructure that can be priced, traded, and governed.

The European power input GPU rack can achieve nearly a hundredfold increase in value. It is difficult for Europe to catch up with the United States in terms of computing hardware scale, and there are shortcomings in the development of domestic large-scale models. We can extend the mature energy market mechanism to the field of computing power, launch the EU computing power index and electricity+computing power composite contract, and build our own advantages based on rules.

The value of bundling electricity computing power

At present, the risks of electricity and computing power are independent of each other, and enterprises cannot hedge against fluctuations. The electricity+computing power contract binds electricity and computing power into a unified financial target. Computing power can be listed for trading and asset securitization, and privately negotiated computing power quotas can be converted into standardized trading targets, establishing computing power price benchmarks.

Overseas exchanges have deployed computing power futures and computing power indices. Europe should not simply replicate similar products. Instead, it should create a physical computing power market that is anchored to local renewable energy and grid conditions, and build competitive barriers based on the physical attributes of energy. The scale of AI computing infrastructure investment in Europe by 2030 is enormous. Public funds will not directly build computing power parks, but focus on cultivating market liquidity. The supported computing power projects need to list a portion of their computing power, and the public sector should prioritize purchasing computing power in this market to form a price discovery mechanism and guide private capital to enter.

Building trustworthy and open rules

Europe relies on improving the rule of law and regulatory system to build a computing power market. The exchange is open to the world, but the computing infrastructure supported by public funds must be implemented within the European Union. Drawing on the ideas of carbon markets and data protection regulations, we aim to create a globally recognized standard for computing power trading and gain control over the pricing and financing discourse of computing power. Keywords: computing power AI、 Europe

The core of computing power competition is not the quantity of hardware. Europe can create a global computing power trading market, incorporating electricity, new energy, and computing power into a unified tradable contract, promoting standardization of the process of transforming electricity into intelligence, and seizing the dominant rule in the field of computing infrastructure.Editor/Gong Ziwei