# Morgan Stanley Forecast Puts U.S. Data Center Gap at 70 GW Before Mitigation By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/45976 Published: 2026-11-01T20:11:00.000Z Updated: 2026-11-01T20:11:00.000Z Section: Technology > On-site generation and nuclear co-location would lower the projected net gap to about 33 GW. Bitcoin mining conversions are a secondary option. 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. The 70 GW figure does not account for measures to add power at or near data centers. After including on-site generation, such as gas turbines and Bloom Energy fuel cells, as well as nuclear co-location, the projected net shortfall falls to about 33 GW. That remaining gap equals about 34% of projected demand. Converting Bitcoin (BTC) mining facilities is another, secondary option. Those sites may already have utility connections, substantial electrical capacity and industrial properties built for heavy power loads. The proposed conversions are an ancillary part of the response, alongside the larger generation and nuclear options. Smaller developers face greater exposure to delays because they have less influence with utilities, less capital for on-site generation and fewer alternatives when grid capacity is tight. Major technology companies are better positioned to secure electricity. The projected gap could widen to between 68 GW and 72 GW by 2029. A separate [38 GW shortfall estimate for 2026 through 2028]() appeared in an earlier forecast revision; the available figures do not establish a direct comparison with the current 70 GW pre-mitigation estimate. ## Links in this article - [38 GW shortfall estimate for 2026 through 2028](https://www.tokenpost.com/news/technology/41348)