The power gap just got measured. morgan stanley expects global data-center electricity demand near…
the power gap just got measured. morgan stanley expects global data-center electricity demand near 56 gw next year against only 51 gw of new capacity, widening to 86 gw by 2028.
the grid is becoming the new gpu shortage.
Context
Morgan Stanley's report Racking Up the Power Shortfall, covered on September 21, projects a US data-center power shortfall of 33 GW through 2028, about 34 percent of the 97 GW of incremental power developers need, even after counting onsite generation and other workarounds.
Another Morgan Stanley estimate, covered by Yahoo Finance on October 7, puts behind-the-meter power at roughly 120 GW of demand through 2029.
The pages read give US figures: a 33 GW shortfall through 2028 and 97 GW of need. They do not give the post's global 56 GW demand against 51 GW of new capacity next year, or 86 GW by 2028, so those numbers are unsupported here, not refuted.
The direction of the claim, power supply lagging data-center demand, matches the reports.
'The grid is becoming the new GPU shortage' is the author's opinion.
Related work
- Blockspace: shortfall forecast to 33 GW ↗The US shortfall figures.
- Blockspace: GPU improvements worsen the crunch ↗The report title and drivers.
- Yahoo Finance: behind-the-meter market ↗A related Morgan Stanley estimate.
Watch next
- Look for the global figures in the report itself.
Sources
- Blockspace, Sep 21, 2026blockspace.media
- Svmuu, Sep 22, 2026svmuu.com
- Yahoo Finance, Oct 7, 2026finance.yahoo.com
Provenance
The note above is reproduced unedited from the original post, first published on Threads on 10 October 2026 at 08:52 IST. Sources are the papers and datasets the note draws on.
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