Yep. Satya Nadella once quipped that they have GPUs sitting on shelves because they don't have enough power.

> [...] because quite frankly, the biggest issue we are now having is not a compute glut, but it’s power — it’s sort of the ability to get the builds done fast enough close to power. So, if you can’t do that, you may actually have a bunch of chips sitting in inventory that I can’t plug in. In fact, that is my problem today. It’s not a supply issue of chips; it’s actually the fact that I don’t have warm shells to plug into.

https://www.tomshardware.com/tech-industry/artificial-intell...