Steel giant BlueScopes soaring profits reveal the resource layer of AI computational infrastructure: industrial metals like steel, copper, and aluminum become the second battlefield of the AI supercycle.

According to the Zhitong Finance APP, the strong demand for metals driven by the booming construction of AI data centers in North America amid surging AI computing power demands is significantly boosting the profits of steel manufacturers like BlueScope. This latest development also highlights the unprecedented surge in demand for key industrial metals and minerals, which are essential for the continuous construction of artificial intelligence data centers. As the power density of AI GPU/AI ASIC computing cluster cabinets continues to increase, the expansion of AI computing will simultaneously drive demand for physical infrastructure, such as structural buildings, power distribution, and thermal management systems for data center projects, thus increasing the demand for metals like copper, aluminum, and steel, rather than merely amplifying chip demand.