Nvidia, Broadcom shielded as AI power crunch hits chip supply chain, says Morgan Stanley
NVDA•NVDA•NVDA•NVDA•Morgan Stanley said Nvidia and Broadcom are relatively insulated from the worsening U.S. data-center power crunch, but delays to AI deployments could affect makers of memory, optical and other secondary chip components.
Morgan Stanley said it does not see data-center bottlenecks putting Nvidia or Broadcom's 2027 forecasts at risk, citing visibility into chip placement, geographic expansion and coordination among data centers, semiconductor suppliers and the power supply chain. If chip capacity cannot be deployed, customers could push out deliveries or cancel orders, leaving memory, optical, power-management and analog components most exposed to inventory disruption.
The brokerage estimated last month that U.S. data-center developers face a 34% net power shortfall through 2028, equivalent to 32 gigawatts, after accounting for measures such as behind-the-meter generation and fuel cells. It said the AI boom's electricity needs are increasingly running up against U.S. power supply issues.
