On Wednesday local time, Alphabet CEO Sundar Pichai announced that the company will invest an additional $9 billion over the next two years in Oklahoma to expand cloud computing and artificial intelligence (AI) infrastructure. Under the Trump administration's "manufacturing reshoring" policy, companies including Micron, NVIDIA, and CoreWeave are also accelerating AI infrastructure development.

Since the beginning of this year, inference computing power consumption has grown exponentially, with inference-side computing power demand driving further growth in total computing power requirements. According to data released by Volcano Engine, as of the end of May 2025, the daily average token usage of the Doubao large model exceeded 16.4 trillion, representing a 137-fold increase compared to its launch in May last year. Data disclosed at Google's I/O conference in May showed that the total volume of tokens processed monthly in April 2025 exceeded 480 trillion, compared to 9.7 trillion in April last year, representing a 50-fold year-over-year increase. Huafu Securities noted that competition and iteration among large models continue, capital expenditure on computing power will remain at high levels, and AI industry trends are being further reinforced.