The boundary of artificial intelligence is often said to be defined by computing power, which is in turn defined by electricity, and the ultimate realization of both electricity and computing power relies on the robust support of metallic materials. According to recent data released by the China Nonferrous Metals Industry Association, the profit of China's nonferrous metals industry surged 94% year-on-year in the first half of this year, with one of the core drivers being the sustained release of demand from artificial intelligence. These metals, closely tied to AI computing power, are known as "computing power metals."

Which metals fall under the "computing power metals" category, and how do they fortify the foundation of AI computing power? "Computing power metals" can be divided into two main categories. The first is the primary metals that "build the skeleton" for AI computing power: copper and aluminum. Copper and aluminum serve as the "blood vessels" of data centers, responsible for both powering servers and dissipating heat. For example, a standard server uses only a few kilograms of copper, while a specialized "super server" for training AI requires 15 to 30 kilograms of copper, three to six times more. According to forecasts from relevant institutions, global data center copper demand will reach 1.3 million tons by 2028, doubling from 2026. Historically, copper prices were primarily influenced by real estate and infrastructure, but they are now increasingly tied to AI and new energy sectors.

The second category comprises "trace elements" that provide critical auxiliary functions for AI computing power, such as tin, indium, germanium, and gallium. Although these metals have less familiar names and are used in much smaller quantities than copper and aluminum, they are indispensable in the AI computing power foundation. Tin is primarily used for soldering between chips and circuit boards, with more advanced packaging technology increasing its reliance. Indium, germanium, and gallium are core materials for optical communication and power management modules, ensuring high-speed data transmission and stable power supply. Tantalum and cobalt are applied in areas like hard disk data storage and high-performance chip manufacturing.

Driven by AI computing power demand, the prices of these rare metals have risen significantly. Within six months, tin prices have increased by about 40%, indium prices by 60%, and tantalum prices have surged by 158%. While these price hikes highlight the strategic value of "computing power metals," they also pose new challenges for downstream hardware manufacturing and computing power infrastructure construction.

The development of the artificial intelligence industry should not focus solely on breakthroughs in chip research and large model software, but requires systematic planning and long-term layout from a full industrial chain perspective. China holds unique advantages in this field: on the resource front, the country controls the purification technology for most of the world's rare "computing power metals," solidifying the raw material supply position. On the infrastructure front, leveraging the "East Data West Computing" project effectively aligns computing power demand with the regional distribution of electricity resources. On the ecosystem front, the open-source ecosystem of domestic large models is thriving, transitioning from technology catch-up to ecological leadership. On the application front, rich industrial scenarios provide the world's broadest testing ground for AI implementation, helping accelerate technology iteration and feedback.

In the future, competition in the artificial intelligence field will not only involve software development and algorithm innovation but also depend on hard strengths such as resource reserves, energy security, and manufacturing capabilities. Faced with the opportunities and cost challenges brought by the surge in "computing power metals" demand, it is essential to leverage China's advantages in rare metal purification, computing power infrastructure construction, and industrial application scenarios, while continuously improving the critical mineral supply assurance system, promoting upstream and downstream industrial chain collaboration, and solidifying the foundation for China's AI industry development.