Morgan Stanley’s 15 Best European AI Stocks

3. Rio Tinto Group (NYSE:RIO)

Number of Hedge Fund Holders: 30

Rio Tinto Group (NYSE:RIO) engages in exploring, mining, and processing mineral resources worldwide. It is headquartered in the United Kingdom. The firm has a thriving copper business. Copper is an important part of the AI data center build. It is used in many electronics and chips that power these centers. Major hyperscale firms have committed billions towards the development of AI data centers in the past few years. Copper futures have boomed as a result. However, in recent weeks, shares of European copper firms have fallen on the back of reports that the Trump administration will impose tariffs on the import of the metal into the US. Rio stock has fallen close to 6% since the Morgan Stanley AI report in August. Some of this decline can also be attributed to the lower AI and chip demand following the DeepSeek breakthrough.