DeBLASEing the Trail: Shock to the System: The 800VDC Transition, Part 1

Research evidence excerpt

DeBLASEing the Trail: Shock to the System: The 800VDC Transition, Part 1

Deutsche Bank

Research

North America Industry Date

United States 21 June 2026

DeBLASEing the

Industrials Industry Update

Multi - Industry & Electrical Trail

Equipment

Shock to the System: The 800VDC

Transition, Part 1

Nicole DeBlase

Weekly #306: Part I of a two-part series on the 800VDC data center power Research Analyst

transition +1-212-250-5916

In this week’s edition, we begin a two-part series on the emerging shift to 800VDC

in data center power architecture, with Part I focused on the technological and Andrew Krill, CFA

Research Analyst

economic case for this change. As AI workloads drive materially higher rack

+1-212-250-2997

densities, power requirements, and thermal loads, traditional AC-based power

architectures are becoming increasingly strained by conversion losses, copper Naim Kaplan

intensity, and cooling requirements. In our view, the key debate is shifting from Research Associate

whether the power stack must evolve to how quickly the industry will move towards +1-212-250-5332

a more centralized, higher-voltage, and increasingly DC-native design. We view Jackson Glenn

800VDC as one of the most credible paths forward. In Part II, we will examine which Research Associate

parts of the electrical and thermal stack might be impacted - and which suppliers +1-212-250-2500

appear best positioned - as the transition unfolds.

Power demand and rack density are rising

This upcoming change in data center power architecture is a result of a sharp

increase in data center capacity, server electricity consumption, and rack density.

McKinsey estimates global data center capacity demand rising from 82 GW in 2025

to 219 GW by 2030, with AI-related demand increasing 3.5x, while EIA projects US