A power management method for use by a blade server or other networked computer having a CPU, memory, network interface, and timer. The method includes monitoring processes in the computer, determining that the computer has become idle, and switching the CPU and memory from an active state to a low power state while maintaining the network interface and timer in an active state. Power management for multicore processors is also provided. A power supply system can be used for providing shared power to groups of the networked computers that each have a similar active power demand. Each PSU in the power supply system is capable of supplying the active power demand at an efficiency greater than a preselected desired minimum efficiency. Changes in power requirements resulting from a computer switching between low power and active states can be accommodated by switching a single PSU into or out of the system.