Morgan Stanley’s 15 Best European AI Stocks

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13. Glencore plc (OTC:GLNCY)

Number of Hedge Fund Holders: N/A      

Glencore plc (OTC:GLNCY) is a United Kingdom-based firm that engages in the production, refinement, processing, storage, transport, and marketing of metals, minerals, and energy products. It is one of the leading copper miners in the world.  Glencore reported a copper production of more than 1 million metric tons in 2023. In the second half of 2024, the firm posted copper production of 489,000 tonnes, nearly 6% higher than the first half of 2024. Copper demand has surged due to the AI trends sweeping the business world. According to commodity trader Trafigura, copper demand linked to data centers and AI could add up to one million tons by 2030. This, in turn, would lead to supply deficits, driving prices upwards. Glencore is in a prime position to capitalize on these tailwinds.

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