[UPDATE] Grid equipment and interconnection queues described as the binding datacenter constraint
GE Vernova reported that datacenters bought more electrical equipment in Q1 2026 than in all of 2025, booking $2.4B of datacenter electrification orders in the quarter; Vertiv's trailing organic orders are up 81% and Quanta carries a record $48.5B backlog. Industry analysis projects 30-50% of planned 2026 datacenter capacity slipping to 2028, with interconnection queues exceeding total grid capacity. The constraint is increasingly power and siting rather than silicon.