$FCX

AI data centers, power infrastructure, cabling, and energy intensive systems are genuinely increasing copper demand, but the bigger story mainly comes from electrification, renewable energy, grid modernization, and the EV transition. So AI is an additional factor accelerating an already strong structural demand trend.
On the supply side, the real issue is that new mining projects take a very long time to come online, ore grades at existing mines are declining, and there are operational and political risks in major producing countries like Chile and Peru. Because of this, copper supply cannot grow as fast as demand, and there is a serious possibility of a bottleneck in the medium term.
My view is that copper could truly become a strategic bottleneck area in the future