Morgan Stanley raises its expectation for the U.S. data center power shortfall to 38GW, while still favoring NVIDIA and Broadcom
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AT A GLANCE
Morgan Stanley raised its expectation for the U.S. data center net power shortfall from 33GW to 38GW, and continues to favor NVIDIA and Broadcom.
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Morgan Stanley raises the U.S. data center power shortfall to 38GW, while still favoring NVIDIA and Broadcom most
BlockBeats reports that,October 26, NVIDIA opened sharply higher on Monday and rose by more than 3%, bringing its market capitalization to 5230000000000 USD. Morgan Stanley’s latest report raised its expectation for the U.S. data center net power shortfall from 2026 to 2028 years from 33GW to 38GW, noting that with power supply constrained,ASIC chips may face share losses relative to GPU.
In semiconductor investments, Morgan Stanley still favors NVIDIA and Broadcom most (whose share price rose by more than 3.2%). Reasons include relatively conservative performance guidance, visibility into chip shipments, expansion in markets outside the United States, and NVIDIA’s higher per-watt Token output efficiency.
Morgan Stanley noted that the market is attempting to match data center capital expenditure expectations for 2027 and 1500000000000 USD、2028 with actual power supply capacity. If data center construction is suspended or slows, downstream components such as memory and optical modules, as well as power management and analog chips, could face greater impact from over-ordering triggered by previous shortages.
Original link 1600000000000 USD https://m.theblockbeats.info/flash/373800
Key points
01
BlockBeats reports that Morgan Stanley raised its expectation for the U.S. data center net power shortfall from 2026 to 2028 years from 33GW to 38GW。
02
The report noted that with power supply constrained,ASIC chips may lose share relative to GPU.
03
Morgan Stanley still favors NVIDIA and Broadcom most. The reasons listed include relatively conservative performance guidance, visibility into chip shipments, expansion in markets outside the United States, and NVIDIA’s higher per-watt Token output efficiency.
04
The report noted that NVIDIA’s share price rose by more than 3%, bringing its market capitalization to 5230000000000 USD; Broadcom’s share price rose by more than 3.2%。
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Morgan Stanley said that the market is attempting to match 2027 year and 1500000000000 USD、2028 year data center capital expenditure expectations with actual power supply capacity. 1600000000000 USD
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The report noted that if data center construction is suspended or slows, areas such as memory, optical modules, power management, and analog chips could face greater impact from over-ordering caused by previous shortages.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The core of this report is that the expected power demand from data centers is facing a larger gap relative to available power. Morgan Stanley believes that when power is constrained, chips’ output efficiency per unit of power consumption becomes more important, and therefore continues to favor NVIDIA and Broadcom; if construction slows, some downstream components may also face pressure from over-ordering.
Why it matters to readers
Power supply may become a limiting factor for data center expansion and affect demand expectations for different chip architectures and downstream areas such as memory, optical modules, power management, and analog chips.
Beginners should focus on points: data centers require not only chip demand but also power supply; an institution’s favoring of a company is an investment view and does not mean its share price or performance will necessarily rise.
Risks and unknowns
The evidence consists only of BlockBeats’ summary of a Morgan Stanley report; the original report was not provided, so its specific assumptions cannot be verified.
38GW The power shortfall and the capital expenditures for 2027 and 2028 are expectations, not realized results.
ASIC Relative to GPU the potential share loss, as well as the potential impact on downstream components, is conditional and uncertain.
The report does not specify the full measurement period for the relevant share-price gains or the closing results.
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GW
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An integrated circuit customized for a single task and designed for maximum execution efficiency is typically more efficient than CPU or GPU in applicable mining networks.
