高盛：2025年人工智能与数据中心全球电力需求激增研究报告：五大驱动因素的上下行风险及可靠性投资顺风（英文版）

Will AI server shipments be constrained by data center capacity? Our analysis led by our Telecom Infrastructure team suggests a tightening market for data center real estate in the coming years but sufficient capacity for our base case expectations for power demand. 2. Will data center capacity be constrained by power infrastructure? Our analysis led by our Utilities team suggests a combination of new generation additions and greater utilization of existing capacity will be sufficient to meet