Morgan Stanley warns: AI demand exposes the U.S. "electricity shortage," is real-time power supply solutions the next investment opportunity?

As artificial intelligence infrastructure accelerates its expansion globally, Morgan Stanley (Morgan Stanley)'s latest report indicates that the United States may face up to a 20% power shortage by 2028, equivalent to a capacity gap of about 13 to 44 GW (440 billion watts). Analysts warn that the explosive growth in AI computing demand is rewriting the structure of the energy market, while also opening new opportunities for alternative energy sources such as natural gas, fuel cells, and small nuclear power.

The demand for AI computing has exploded, and the power supply is struggling to keep up.

Morgan Stanley analyst Stephen Byrd recently pointed out in a report that the electricity consumption of data centers in the United States is exponentially rising, and the traditional power grid may not be able to expand its supply in time. He estimates that based on the current pace of power infrastructure development, the U.S. will face an electricity supply gap of about 20% before 2028, equivalent to a shortfall of 13 to 44 GW.

He emphasized that this wave of demand for AI infrastructure is “the most significant technological shift in modern history,” however, the energy market will be the biggest variable.

(The economic reality behind the AI boom: Two data centers in California have been idled for years due to “power shortages”)

The rise of “instant power supply solutions”: natural gas, fuel cells, and nuclear energy enter the arena.

Morgan Stanley believes that in the coming years, the market will see multiple “instant power (time-to-power)” solutions emerging to address power bottlenecks. These solutions do not rely on traditional grid construction processes and can provide the energy needed for computational facilities in a short time.

Analysis indicates that natural gas turbine (natural gas turbine) may add 15 to 20 GW of power; fuel cells (fuel cells) can provide 5 to 8 GW; additionally, nuclear data centers will contribute 5 to 15 GW.

These alternatives not only fill the power supply gap but may also become a new theme for investors seeking AI value overflow in “energy concept stocks.”

From Bitcoin Mines to AI Hearts: A New Model of Computing Power Transformation Emerges

In addition, Morgan Stanley has also observed a transformation trend where Bitcoin mining sites are transforming into AI high-performance computing centers (HPC), and this trend has led to the emergence of two mainstream business models:

New Cloud ( new neocloud) model: For example, the mining company IREN signed a five-year lease with Microsoft to directly lease existing computing power to the cloud giant.

Data Center Investment Trust ( REIT Endgame ) Model: For example, Applied Digital ( $APLD ) signed a 15-year “Power Facility Shell Lease” agreement with a large cloud company, allowing the latter to operate and manage it independently.

Morgan Stanley believes that both models could become new niche markets under electricity-restricted environments, creating sustained value.

( 70% Bitcoin miners are relying on AI computing revenue to survive the bear market, with power conversion revenue becoming a new valuation standard )

AI infrastructure becomes a new narrative in the US stock market, with power bottlenecks becoming key variables.

The analyst finally emphasized that the development of AI will not only change the technology industry but will also reshape the investment landscape in energy and infrastructure: “The field of AI is at the center of a turning point in the era.”

As the energy efficiency and demand for AI continue to double, the speed of energy supply will determine how far this revolution can go. Therefore, the future competition is clearly no longer on the technical level, but rather on the struggle between limited energy resources.

This article warns that Morgan Stanley: AI demand exposes the “power shortage” in the United States, and real-time power supply solutions become the next investment opportunity? Originally appeared in Chain News ABMedia.