Abstract: Methods and apparatus for balancing power between discrete components, such as processing units (e.g., CPUs) and accelerators in a compute node or platform. Power consumption of the compute platform is monitored to detect for conditions under which a threshold (e.g., power supply capacity threshold) is exceeded. In response, the operating frequencies of a processing unit and/or other platform components such as accelerators, are adjusted to reduce the power consumption of the platform to return below the threshold. Power limit biasing hints (scaling weights) are provided to platform components, along with a power violation index, which are used to adjust the operating frequencies of the platform components. Optionally, a processing unit can calculate the power violation index and the scaling weights and directly control the frequencies of itself and platform components. Embodiments of multi-socket platforms are also provided.