Upcoming Webinar -
Physical Demands of a Resource-Starved Economy

The rapid expansion of AI and data centers is shining a spotlight on the natural resources that power the modern economy—from copper to energy to water. But it’s only one force reshaping natural resource markets. Tight energy supply, persistent inflation in food and industrial inputs, and a broad reflation have all been at work, and they don’t move in lockstep. That’s the case for owning the whole complex rather than a single theme.