From a hedge fund guy I know.... Will someone please do the math? According to the latest data, the current annual global production of copper is close to 21.5
million metric tons. Now, think of the $800B* AI data center build-out (over 10 years), re-building Ukraine, Los Angeles, and
Gaza. Is there any copper left for electric vehicles? The most critical commodities used in data center construction
include:
- Steel: used in the structural framework, roofing, and cladding.
- Concrete: used in foundations, walls, and floors to provide structural support and security
- Copper: used extensively in electrical wiring, circuits, and connectivity infrastructure
- Aluminum: used in server racks, cooling systems, and other equipment due to its heat conductivity and durability
- Diesel Fuel: used to power backup generators and ensure uninterrupted operation during power outages.
According to our calculations, the “Ukraine rebuild” and U.S. data center construction bonanza alone will consume nearly one
year of global copper production. Just wow. Now, think of the 40-year-old U.S. power grid. This complex network includes over
200,000 miles of high-voltage transmission lines, millions of miles of medium—and low-voltage distribution lines, and thousands
of substations and transformers.AI in a multipolar world is a copper bull's dream—long Freeport-McMoRan FCX, First
Quantum FQVLF, and COPX, the copper miners' ETF.