Eleven gigawatts of announced data center capacity sits frozen in 2026 without construction underway. Not because of chip shortages. Not because of capital constraints. Because the electrical grid cannot deliver the power . That number deserves a moment. Eleven gigawatts is roughly the output of eleven nuclear power plants. It's enough to power every household in New York City twice over . And it's sitting in limbo because the infrastructure required to connect these facilities to the grid simply doesn't exist yet, and won't for years. According to Bloomberg, close to half of all planned US data center builds in 2026 are projected to be delayed or canceled. Not scaled back. Not postponed by a quarter. Delayed or canceled entirely, because the grid infrastructure that would feed them cannot be built fast enough. Fortune described it as "a bend in the trajectory" , which is a polite way of saying the industry hit a wall it didn't see coming.…