Morgan Stanley has identified Nvidia and Broadcom as the chip designers best shielded from a power crunch now squeezing the AI semiconductor supply chain, according to a TradingView report.

The bank's analysis centers on a constraint that has moved from speculation to a measurable bottleneck: electricity. Data center power demand, driven by AI accelerator deployments, is straining the supply chain that produces and delivers those same chips. Morgan Stanley's assessment singles out which suppliers remain insulated as the crunch intensifies.

Why do Nvidia and Broadcom stand apart?

Both companies design chips rather than manufacture them. Nvidia dominates AI accelerators; Broadcom supplies custom AI silicon and networking components. Their position in the value chain, per Morgan Stanley, leaves them less exposed to the power-driven disruptions now hitting suppliers further down the chain.

What does the power crunch hit instead?

The strain lands on the physical supply chain around the chips:

• Power delivery to fabrication and packaging capacity
• Suppliers dependent on energy-intensive production stages
• Companies without the pricing power or design-margin position of the two market leaders

Morgan Stanley frames the division as structural rather than temporary. Designers with dominant AI franchises absorb or pass through the constraint; suppliers of physical capacity bear it.

The full TradingView report details the bank's sector-by-sector breakdown of which suppliers face the tightest exposure as AI power demand keeps compounding.