Bank of America has compiled a universe of 67 stocks it views as positioned to benefit from investment in artificial intelligence data centers, representing about $5.5 trillion in aggregate market value. The bank’s screen concentrates on companies that carry Buy ratings and have identifiable exposure to elements of data center infrastructure - notably power supply, electrical and water systems - as well as strategic transition metals deemed important to these facilities.
The excerpt below covers the segment of the ranking from positions 67 through 58 and is weighted toward materials and mining names that provide the commodities and industrial inputs needed for data center construction and ongoing operations. Each listed company is highlighted for the particular way its products or capabilities intersect with the infrastructure needs of AI-driven data center expansion.
1. Jiangxi Copper - The Chinese copper producer occupies the top slot in this portion of Bank of America’s list. The company’s copper output is cited for its relevance to electrical infrastructure, a key requirement as facilities expand their power and distribution networks.
2. Norsk Hydro - The Norwegian firm, described for its aluminum production and renewable energy operations, is placed second. Its combination of primary aluminum and power generation activities aligns with materials and energy components of data center infrastructure.
3. Kazatomprom - Ranking third, Kazakhstan’s national atomic firm is noted for its uranium production, a material the bank links to considerations around power supply for data center operations.
4. Ganfeng Lithium - The Chinese lithium producer appears fourth on the list. Bank of America highlights the company’s role in lithium production as relevant to energy storage and power-related infrastructure connected to data centers.
5. Lundin Mining Corp - The Canadian diversified base metals miner is ranked fifth; its copper and other base metal outputs are presented as inputs for electrical and broader infrastructure requirements.
6. Steel Dynamics - Placed sixth, the U.S.-based steel producer and metals recycler is identified for supplying construction materials that support data center development.
7. Chalco - Aluminum Corporation of China is listed seventh, with its aluminum production highlighted in the context of data center infrastructure needs.
8. China Hongqiao - The Chinese aluminum manufacturer occupies the eighth spot in the ranking, again noted for aluminum’s role in infrastructure.
9. Cameco - The Canadian uranium producer is ninth on the list, included for its exposure to materials associated with power supply considerations.
10. Antofagasta - Rounding out this top ten segment at number ten is the Chilean copper miner, whose copper production is cited as relevant to electrical infrastructure requirements for data centers.
Bank of America’s screen spans more than 65 names across the data center supply chain, reflecting the wide range of materials and infrastructure components that feed into AI-driven data center expansion. The portion presented here places particular emphasis on mining and materials companies whose commodities are directly tied to electrical systems, power supply, energy storage and the construction materials used to build and maintain large-scale data center facilities.