Morgan Stanley raises U.S. data center power gap forecast to 38 GW, still backs NVIDIA and Broadcom

Morgan Stanley raised its 2026 to 2028 U.S. data center net power deficit forecast to 38 GW from 33 GW. Constrained power may let GPUs gain share over ASIC chips. The bank favors NVIDIA and Broadcom, citing conservative guidance and clear shipment visibility. NVIDIA rose over 3 percent to a $5.23 trillion market cap. A build slowdown could hit storage and power chips harder.