It wasn’t that long ago that computers weren’t able to control the power themselves. I remember shutting down Windows 95 and it showed a message saying “you can now turn off the your computer”.
ACPI is a communication method between the power supply and the CPU (and other parts of the system), to control when the power is applied and the various sleep states that system supports, up to and including power off. The CPU controls some of that, but generally the power button (quick press to reset and 4 second press to really really turn off) is nothing to do with the CPU and everything to do with the PSU.
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