Copper's AI Boom: The Metal That's Quietly Outpacing the AI Hype

While everyone’s arguing about which AI stocks to buy, copper futures are already up 28% in 2025—currently trading around $5.10/lb on Comex. Here’s the thing: this isn’t just another commodity rally.

AI data centers are the new driver. Global data center electricity consumption is projected to jump from 2% of total energy demand today to 9% by 2050, and copper demand in those facilities alone is expected to spike 6x. Meanwhile, the Trump administration just classified copper (along with silver and uranium) as a critical mineral for national security.

The real kicker? Demand is already outpacing supply. Industry analysts are calling for a growing copper deficit in the coming years.

Investors aren’t sleeping on this. The Global X Copper Miners ETF (COPX) is up 66% so far in 2025, riding the wave of anticipated price increases. The fund holds 41 mining companies globally—Lundin Mining, Southern Copper, Boliden AB among the top positions—giving it broad exposure without over-concentration risk.

The question: Is this a smart play on AI infrastructure demand, or are we already pricing in the upside? Either way, copper’s chart is telling a very different story than the AI stock bubble talk.