AI infrastructure play via copper and gas
The guest argued that the AI build-out structurally benefits cheap, essential infrastructure commodities like copper and natural gas rather than high-flying tech stocks.
The argument
Ted Oakley noted that AI data centers require massive amounts of power and infrastructure, making cheap producers of natural gas and copper highly attractive on a fundamental basis. He highlighted that these companies trade at low multiples compared to hyped tech names.
The thesis, stress-tested
✓ What validates it
- ✓Natural gas prices rising due to increased power demand
- ✓FCX reporting strong copper volume growth and pricing power
▸ Risks discussed
- ▸Commodity price volatility
- ▸Slower-than-expected AI data center build-out
Hear it yourself
"market, and that's about what it is now, any strategy you use is up, then you're probably toward the end. And then it becomes a thing where people say and in the end, he said, in the end, he said, well, God has made us all to be rich in the market, so we need to be in. Mhmm. When when everybody's getting in. Everybody's in. Everybody's in now. I promise you they're in. When somebody at Juice Land told me, can you get me some SpaceX? Then I know we're close. Wait. What's Juice Land? Juice Land is like a juice place in Austin."
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