Abstract: In the era of artificial intelligence, the traditional latent advantages of backwardness are eroding, while the catch-up cycle for latecomer nations is compressing toward its theoretical limit within the economic convergence framework. Consequently, resolving the catch-up dilemma faced by these nations in the wave of AI development has become a critical agenda. This study, therefore, focuses on two pivotal questions. First, has the traditional latecomer advantage undergone a structural transformation in the AI era? Do developing countries, particularly emerging economies, retain the potential for leapfrogging development through technological catch-up? Second, how can a systematic theoretical framework be constructed to refine and expand the explanatory power of latecomer advantage theory in this new context? Addressing these questions, this research investigates the adaptability of latecomer advantage theory in the AI age. Integrating a case study on the deconstruction of the CHIPS and Science Act of 2022, it innovatively develops a tripartite analytical framework encompassing factor competition, techno-economic paradigm, and geopolitics. This framework systematically elucidates the reconstruction logic of latecomer advantages across three dimensions: capability evolution, dynamic transition, and power realignment. Firstly, AI is shifting the driver of economic development from the industrial era’s dual engines of “energy and capital” to a synergistic triad of “data, algorithms, and computing power” in the intelligent economy. Secondly, AI not only expands the technological possibility frontier of production and innovation but also triggers a systemic shift in the economic feasibility frontier, thereby reshaping the patterns of innovation-driven growth and the genesis of comparative advantage. Finally, AI has become both a central arena for national strategic competition and a critical variable reshaping the global landscape of scientific and technological power. Furthermore, drawing on the successful exploration of China’s Deepseek, this study reveals that latecomers should identify stable fulcrums and plan development priorities amid economic uncertainty, thereby accelerating the iterative upgrading and dynamic evolution of their latecomer advantages to foster sustained productivity growth. Firstly, enhancing the abundance and diversity of high-quality production factors and promoting the deep integration of total factor resources are crucial for cultivating high-level competitive advantages and clarifying the logic of sustained economic growth. Latecomer economies must prioritize the optimization of their factor endowment structures and the cultivation of distinctive factor advantages, a foundational strategy for enabling a shift toward higher value-added creation. Secondly, transitioning from passively receiving technology spillovers to actively nurturing endogenous innovation ecosystems serves as the core driver for the adaptive reconstruction and sustained realization of latecomer advantages. Latecomer economies should pursue indigenous innovation in critical core technologies with the strategic objectives of enhancing effectiveness, improving precision, and expanding depth. Finally, a nonlinear transition mechanism involving institutional rule-building, opportunity capture, and advantage reconstitution emerges as a novel pathway to unlocking latecomer advantages in the intelligent age.Latecomer economies should forge first-mover advantages in critical fields such as technical standards, thereby securing greater discourse power within global value networks. In summary, the theory of latecomer advantage urgently requires adjustment, innovation, activation, extension, and consolidation at both theoretical and practical levels in the AI era. Implementing asymmetric leapfrogging strategies and pioneering differentiated competitive tracks represent effective means for latecomer nations to break free from path dependency and circumvent technological blockades. This study not only broadens the explanatory boundaries of latecomer advantage theory in the age of the intelligent economy but also provides empirical insights and practical references for the strategic choices of latecomer nations against the backdrop of a profoundly adjusting world order.