CITIC's research report highlights a key point: when AI companies start generating their own power, the entire electricity market's pricing logic will need to be rewritten—computing power equals power, energy equals a moat.

CITIC Securities research indicates that artificial intelligence compute power is driving a fundamental restructuring of US electricity supply, with the country's major AI companies now entering a new era of self-directed power generation. In March 2026, seven major US AI companies signed the