The real ceiling on the AI build-out is copper and grid power, not chips

The AI ceiling is copper and power, not chips. New research: copper is 82-83% of AI data center mineral demand, mostly for grids. China controls 90% of rare earth refining. Google $GOOGL cancelled a Berlin data center for power. US demand triples by 2030. Source: ScienceDirect

The AI story focuses on chips. The real constraint is copper and power. Copper is 82-83% of mineral demand from AI data centers. China controls 90% of rare earth refining. US data centers need 22% more power late 2025, triple by 2030. Google $GOOGL cancelled Berlin data center for power. Source: ScienceDirect