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The US AI boom has a hardware problem:
US imports of major electrical equipment rose +4.7% YoY in 2025, to $411 billion.
This equipment, including transformers, switchgear, and batteries, is needed to power the data centers that run AI systems.
Since 2020, imports have risen +$180.8 billion, or +78%.
The surge has been driven by AI companies racing to build data centers as domestic manufacturing cannot keep up with demand.
As a result, ~50% of all US data centers planned for 2026 are expected to be delayed or canceled because this equipment is in shortage.
We need more hardware.