UBS predicts $4.1T AI infra spend by 2028, ignoring power bottleneck

Servola-Journal · reddit · 2026-08-22

UBS models $4.1 trillion in AI infrastructure spending by 2028, assuming power availability. However, grid interconnection is becoming a harder constraint than chip supply. Unlike chip shortages, grid interconnection is a queue problem that cannot be solved by spending more. Recent moves by TVA, Danish grid operators, and PJM indicate this constraint is worsening, challenging the assumption that megawatts will appear when capital is available.

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