The most important number in tech this year isn’t a stock price.
It’s this: roughly half of America’s planned AI data centers won’t get built in 2026.
Not for lack of money.
Big Tech is spending over $650 billion.
For lack of power.
The choke point is transformers.
Lead times have blown out to five years.
And the only U.S. source of the special steel inside them is a single company.
What it means for you: every AI dream, Musk’s included, now runs through a handful of suppliers who can jump that five-year line.
When demand this big hits a bottleneck this tight, the supplier names its price.
One small company sits dead center. The news won’t tell you which.
See the company at the center of the bottleneck >> “The Buck Stops Here,”
Kelly Maguire
Behind the Markets
