Ep. 018 - Stop Saying Half of 2026 US Datacenter Capacity Is Canceled (Datacenter, Energy) | Jeremie Eliahou Ontiveros, Reyk Knuhtsen, Ellie Holbrook, Jordan Nanos
SemiAnalysis WeeklyShow Notes
Bloomberg said half of 2026 US data center capacity is delayed. The SemiAnalysis Data Center, Energy, and Industrials team pulled the underlying report and found a broken denominator. Amazon alone built 4GW in 2025 and is adding 5GW plus in 2026. CoreWeave adds a gigawatt, all under construction. Jeremie Eliahou Ontiveros (@JeremieEO), Reyk Knuhtsen (@robotknower), and Ellie Holbrook join Jordan Nanos (@JordanNanos) as they walk through why the number is wrong and what the real forecast shows.
The team covers behind the meter power generation reaching 40GW by 2028, Oracle's New Mexico problem, and the gas turbine supply chain that is running toward peak. They break down the three types of data center delays, how OEMs are responding, and where solar, batteries, and nuclear fit.
00:00 Intro 00:51 The "half of capacity is canceled" myth 04:43 Why early stage projects get canceled 08:06 Three types of data center delays 08:40 Oracle's New Mexico problem 13:47 Behind the meter: 40GW by 2028 18:50 How OEMs are responding 20:24 Signed deal to powered GPUs 23:44 Hyperscaler market share 27:49 How SemiAnalysis tracks data centers 31:34 What behind the meter means 33:31 The gas turbine supply chain 38:22 Peak turbine 42:54 Solar, batteries, and nuclear 46:13 Final thoughts 48:20 Favorite projects
Referenced: Stop Saying Half of 2026 US Datacenter Capacity Is Canceled: https://newsletter.semianalysis.com/p/stop-saying-half-of-2026-us-datacenter
US Grid Constraints: Towards 40GW+ of Behind-The-Meter Datacenter by 2028?: https://newsletter.semianalysis.com/p/us-grid-constraints-towards-40gw
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