Lao Huang’s first tweet on X was calling for the open-sourcing of America’s large models. The competition in AI between China and the U.S. is fundamentally a competition in computing power. In the short term, it’s about GPU reserves; in the medium term, about systems engineering and hardware ecosystems; in the long term, about real-world deployment and energy supply. In the short term, GPUs and reserves determine “who runs faster.” The U.S. controls the world’s leading design ecosystem—NVIDIA, AMD; the advanced manufacturing chain—TSMC, High-NA EUV; and priority access to high-bandwidth memory. China compensates for insufficient single GPUs by scaling clusters. Faced with restrictions on advanced process nodes, China relies on domestic chips—such as those from Huawei, Cambricon, and Moore Threads—stacked in multi-GPU configurations, alongside algorithmic cost-reduction approaches exemplified by DeepSeek, leveraging highly efficient architectural innovations to reduce dependence on GPUs. In the medium term, systems engineering and hardware ecosystems determine computing efficiency. When clusters scale to tens of thousands or even hundreds of thousands of GPUs, the competition shifts from “how many GPUs you have” to “who can truly utilize tens of thousands of GPUs efficiently.” Marvell is a company focused on improving computing efficiency. In the long term, real-world deployment and energy supply matter most. Energy is computing power. The ultimate goal of AI is “converting electricity into intelligence.” Data centers are extreme power hogs; grid capacity directly determines whether a million-GPU computing matrix can operate sustainably. In terms of electricity, China’s power grid and new energy infrastructure are far ahead of the U.S. Applications determine data and revenue. Computing power is a massive sunk cost—only real applications can create a commercial闭环 (closed loop). The U.S. excels in “the brightest minds” and must maintain leadership in general-purpose frontier large models and AGI; open-sourcing is essential. China excels in intelligent societies and industrial empowerment— such as robotics, intelligent manufacturing, and smart supply chains— with inherent scale advantages and deep application scenarios across countless industries.