ECB President Lagarde said the US controls roughly 75% of global AI compute while Europe accounts for about 5%. If Europe moves to narrow that gap, required investment would go beyond chips and software to large-scale data centers, grid expansion, substations and supporting electrical infrastructure. Such a physical‑infrastructure build would raise demand for industrial metals—notably copper, aluminium and silver—making them potential indirect beneficiaries.

2026-09-16

ECB President Lagarde said the US controls roughly 75% of global AI compute while Europe accounts for about 5%. If Europe moves to narrow that gap, required investment would go beyond chips and software to large-scale data centers, grid expansion, substations and supporting electrical infrastructure. Such a physical‑infrastructure build would raise demand for industrial metals—notably copper, aluminium and silver—making them potential indirect beneficiaries.