The digital capabilities have significantly overturned the traditional entrepreneurial logic, and there is a call for research on "corporate entrepreneurship in the digital age". Based on resource orchestration theory and digital leapfrog logic, an empirical analysis of 240 questionnaires was conducted to investigate the influence of digital capabilities on corporate entrepreneurship and the moderating effect of competition intensity on the relationship between the two. The findings show that (1) digital perception capability, digital operation capability, and digital collaboration capability can all positively influence company entrepreneurship, but digital perception capability has the most significant effect, followed by digital collaboration capability, and finally digital operation capability. (2) Competitive intensity enhances the positive effects of digital perception capability, digital operation capability, and digital collaboration capability on corporate entrepreneurship. The practical implication of the conclusion is that if companies themselves want to carry out corporate entrepreneurship, they should first focus on the cultivation of digital perception capability; if companies want to defend other companies to carry out corporate entrepreneurship in the same field, they should first focus on the cultivation of digital operation capability. This paper opens up the inner logic of the 3 manifestations of digital capabilities, which is beneficial for companies to allocate resources and energy in a targeted manner.