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

Research evidence excerpt

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

Deutsche Bank

Research

North America Industry Date

United States 28 June 2026

DeBLASEing the

Industrials Industry Update

Multi - Industry & Electrical Trail

Equipment

Shock to the System: The 800VDC

Transition, Part II

Nicole DeBlase

Weekly #308: Part II of a two-part series on the 800VDC data center power Research Analyst

transition +1-212-250-5916

In Part I, we outlined why 800VDC is emerging as a credible next step in data center

power architecture as AI drives higher rack densities, rising power intensity, and Andrew Krill, CFA

Research Analyst

tighter thermal constraints. In Part II, we shift to the practical adoption path —

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timing, technical hurdles, and company implications. We view 800VDC as a multi-

year evolution of the power and cooling stack, with initial deployments tied to Naim Kaplan

NVIDIA Kyber in 2027 and broader adoption more likely in 2028–29. Early adoption Research Associate

will likely be led by hyperscalers and AI cloud providers, while colocation likely +1-212-250-5332

transitions more gradually given mixed workloads, customer optionality, and Jackson Glenn

standardization needs. Research Associate

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UPS/SST debate: timing mismatch, not binary disruption

Investors have expressed concern that 800VDC could eliminate portions of

centralized low-voltage UPS architecture, but SSTs do not need to be broadly

commercialized for that transition to begin. SSTs remain nascent in data center

applications, while early 800VDC deployments are more likely to rely on sidecars,

conventional rectification, MV UPS, BESS, and DC-coupled storage. We would

expect UPS to face gradual disintermediation over a long timeline rather than