AI Optimism Becoming a Major Driver for Copper Prices
Copper prices are now being driven more by optimism around AI growth than traditional factors like China's demand or US dollar movements, according to Goldman Sachs. The bank notes that while data centers currently account for only 1% of global copper use, expectations for future infrastructure investment in power grids and transformers tied to the AI boom are shaping market sentiment.
Tickers: $GS
Topics: AI copper demand Goldman Sachs infrastructure investment