Hyperscaler report says power bottlenecks will outlast 2030 and reshape capacity deals

BenBajarin · x · 2026-07-29

A new hyperscaler report says power, not compute, is still the bottleneck through 2030

Ben Bajarin says his latest Gigawattonomics work helped build margin profiles for different hyperscaler partners — from neoclouds to data-center builders — and reinforced one conclusion: hyperscalers still do not prefer neoclouds if they can avoid them.

In the linked report, he argues that power constraints are worsening rather than easing. Utility studies can take 6–12 months, a new substation can add 2–3 years, and even when a company pays for the work itself, equipment, labor, permitting, and local resistance can still delay delivery. Based on industry conversations, he expects the bottleneck to last through at least 2030, and probably longer. That is why hyperscalers increasingly rely on external partners that already have firm power or can bring sites online faster.

Related event: AI Infrastructure Bottleneck Shifts from Chips to Power, Lasting Beyond 2030(5 posts)→

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