Energy & Data CentersCorrect
“The chip shortage is behind us, but the next shortage will be voltage step-down transformers, and after that electricity: "They won't be able to find enough electricity to run all the chips. I think next year, you'll see they just can't find enough electricity to run all the chips."”
Said Feb 29, 2024Deadline Dec 31, 2025Bosch ConnectedWorld 2024 closing Q&A, Berlin, 29 February 2024 (reported by New Atlas and AI Business)
Power, not chips, became the binding constraint in 2025: Microsoft CEO Satya Nadella said in November 2025 that Microsoft had GPUs "sitting in inventory" it could not plug in because it lacked "warm shells"/power, and transformer and grid-interconnection lead times stretched to multiple years. There was no consumer-facing electricity shortage, but the specific prediction — not enough electricity to run all the chips in 2025 — was borne out.