AI could add 1 million tonnes to copper demand by 2030, Trafigura chief economist says

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Artificial Intelligence has the potential to add one million tonnes per annum of copper demand by 2030, according to Trafigura’s chief economist.

“If you look at the demand that is coming from data centers and related to that from AI, that growth has suddenly exploded,” said Rahim. Even before AI, data centers relied on copper for various electrical applications, including power cables, busbars, electrical connectors, heat exchangers, cooling sinks and power distribution strips.

To illustrate the scale of demand, Microsoft’s $500 million data center in Chicago required 2,177 tonnes of copper for its construction.to expand from a $33 billion business in 2020 to $70 billion in 2030 and a substantial $185 billion in 2040.

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