Morgan Stanley Forecast Puts U.S. Data Center Gap at 70 GW Before Mitigation

Morgan Stanley’s Stephen Byrd estimates that U.S. data center developers face a 70-gigawatt power gap through 2028 before mitigation, putting smaller developers at greater risk of delays as they seek electricity for new facilities. The pre-mitigation estimate rose from about 57 GW in an earlier calculation. Morgan Stanley’s latest model projects total U.S. data center power demand of 97 GW through 2028, up 43% from an earlier 68 GW outlook. Higher chip shipments and racks that consume more power are driving the larger demand estimate.