The combined expansion of artificial intelligence, the global clean energy transition, and supply-chain reshoring could spark a new commodity supercycle, driving sustained demand for critical raw materials over the coming decade. AI-powered data centers are emerging as a major source of electricity consumption, with global data center power usage expected to rise from around 485 terawatt-hours (TWh) in 2025 to nearly 950 TWh by 2030, accounting for almost 3% of global electricity demand.
This surge in energy demand is expected to increase the need for commodities such as copper, aluminum, lithium, nickel, uranium, and rare earth elements, all of which are essential for AI infrastructure, electricity grids, batteries, renewable energy projects, and semiconductor manufacturing. At the same time, supply growth for many of these materials remains constrained due to limited mining capacity, lengthy permitting processes, and geopolitical challenges, creating the conditions for prolonged upward pressure on commodity prices.
The report notes that three powerful demand drivers are converging simultaneously: rapid AI infrastructure expansion, accelerating investments in clean energy, and efforts by governments and companies to localize critical supply chains. Together, these structural trends are increasing demand for industrial metals and energy resources faster than new supplies can be brought online, potentially creating a long-lasting commodity investment cycle rather than a short-term price spike.
Analysts believe this shift could reshape global trade and investment, benefiting countries rich in critical minerals while encouraging greater investment in mining, recycling, and energy infrastructure. As AI and clean energy continue to transform the global economy, securing reliable supplies of strategic commodities is expected to become increasingly important for governments and industries seeking to sustain technological innovation and economic growth.
