SemiAnalysis data-center and energy research lead Jeremie Ontiveros said the market is showing some chip oversupply and that obtaining a GPU is currently easier than obtaining data-center power, BlockBeats reported on Oct. 22.
SemiAnalysis framed 2028 as a potential reversal
Ontiveros was quoted as saying that infrastructure signals make data-center demand easier to track, while chip supply is more volatile. He described a strong energy response in 2026 and 2027, but warned that supply-chain risk could reverse by 2028 and create a potential data-center oversupply. He also said the industry is more concerned about excess data-service capacity than excess chips, with the pace of chip-supply expansion a key indicator for future capital spending.
These were SemiAnalysis views relayed by BlockBeats. The flash did not link to an underlying report or provide a quantitative supply-and-demand model, so the 2028 outcome remains a forecast rather than an established event.