This paper identifies A-share listed companies that conform to the characteristics of future industries and, based on the quasi-natural experiment constructed with the Internet data center operation license, examines the impact of computing power deployment on the breakthroughs of key core technologies in future industries. Research findings show that the deployment of computing power significantly promotes breakthroughs in key core technologies for future industries. Mechanism analysis indicates that computing power resources influence the breakthroughs of key core technologies in future industries by enhancing enterprises’ knowledge integration capabilities, innovation efficiency, and optimizing the allocation of innovation resources. Heterogeneity analysis indicates that for enterprises located in national big data comprehensive pilot zones and with a higher degree of digital transformation, the impact of computing power deployment on the innovation of key core technologies in future industries is more significant. Further research has found that the innovative enabling effect of computing power has not overflowed among the deployment entities. The research results provide empirical evidence and practical inspiration for building an innovation policy system, fostering a collaborative innovation ecosystem, and enterprises improving their internal computing power resource allocation strategies.