The technological leap of generative artificial intelligence presupposes the exponential expansion of computing power. Driven by capital logic, computing resources are rapidly concentrating among a few technology giants and developed economies, forming a structural monopoly. Marx’s theory of technological alienation provides an analytical lens: when computing power transforms from a human-serving resource into a power lever for extracting excess profits and externalizing environmental costs, technological alienation reappears in digital form. This monopoly gives rise to three ethical dilemmas: the de-subjectification of technological development, the structural entrenchment of social inequality through the computing power gap, and the disruption of the material exchange relationship between humans and nature. To resolve these dilemmas, computing power must be recognized as a public good, and an ethical governance framework must be built along three dimensions—power deconstruction, equitable distribution, and ecological constraint—so that the allocation of computing resources shifts from capital dominated to public governance, truly serving the all-round development of human beings.