The global technology race has shifted from a competition over processing hardware to a contest for raw electrical power, and the institutional capital that tracks these structural shifts has already begun to reposition toward the physical assets that will determine how far digital infrastructure can scale. Advanced computing hardware requires a continuous and stable energy supply - not intermittent generation, not overcrowded grid connections, but reliable baseload power delivered without interruption to facilities that cannot tolerate instability. The gap between software valuations in public markets and the mechanical reality of what is required to keep those systems operational signals a repricing cycle that is underway and not yet complete.