Skyrocketing demand from artificial intelligence data centers is exacerbating shortages of critical grid equipment like transformers across the U.S., driving up costs, stretching out wait times and spurring utilities and developers to lock in orders far in advance. Transformers, which are used to step up or step down electricity voltage, have witnessed persistent shortages over the last five years, when demand began to rebound faster than supply due to COVID-19-related lockdowns.