Morgan Stanley public policy strategist Ariana Salvatore has released an in-depth report warning that up to $1.6 trillion in AI infrastructure capital expenditure plans face three core constraints—"people, power, and politics"—which could lead to investment roadblocks or even "catastrophic" reversals. The report points out that local political resistance in the United States, a reversal in supply-demand price cycles (underestimated risk of both volume and price declines), and a power deficit projected to expand to 72 gigawatts by 2029 are all compounding factors. Although the firm maintains a constructive outlook, it emphasizes that this expectation comes with a list of preconditions.