Technology convergence of digital and real economy industries serves as a crucial internal driving force for fostering the development of corporate new quality productive forces. Based on the empirical data of China’s A-share listed companies in Shanghai and Shenzhen from 2011 to 2022, this paper constructs an index for corporate new quality productive forces using machine learning and text analysis methods. In conjunction with the dynamic capability theory, it systematically examines the specific impact of technology convergence of digital and real economy industries on corporate new quality productive forces. The results indicate that technology convergence of digital and real economy industries significantly promotes the development of corporate new quality productive forces. Mechanism testing reveals that this promotion effect is mainly achieved through a dual mechanism of enhancing resource acquisition capabilities and shaping innovation advantages. Heterogeneity analysis shows that this promotion effect is more pronounced among private enterprises, those with lower production efficiency, those in strategic emerging industries, and those located in regions with better intellectual property protection. Additionally, different digital sub-industries exhibit heterogeneous characteristics. The conclusions of this paper provide valuable evidence and policy insights for promoting technology convergence of digital and real economy industries and fostering the development of corporate new quality productive forces.