Goldman Sachs · Tokenization · Crypto Briefing
Copper climbs past $6.60 as weaker dollar and AI infrastructure demand fuel record rally
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The metal powering AI data centers has jumped over 60% in a year, and tokenized copper is bringing the rally to crypto markets.
Key facts
- Goldman Sachs has projected a 165% increase in data center power demand by 2030
- Copper futures have broken above $6.60 per pound, setting fresh record highs as a weakening US dollar and surging demand from AI data centers converge to create a supply squeeze that shows no signs
- A year ago, copper was trading around $4.10 per pound
- It’s backed by verified copper reserves valued at $1.5 billion
Summary
Copper futures have broken above $6.60 per pound, setting fresh record highs as a weakening US dollar and surging demand from AI data centers converge to create a supply squeeze that shows no signs of easing. A year ago, copper was trading around $4.10 per pound. Every data center sprouting up to train and run AI models requires massive amounts of the metal for wiring, transformers, power delivery systems, and cooling infrastructure. Goldman Sachs has projected a 165% increase in data center power demand by 2030.