Financial encyclopedia

When it comes to artificial intelligence (AI), many people think of the sharp rise in technology stocks. However, in fact, the AI craze has not only brought about innovation but also led to a simultaneous increase in gold demand. Underlying logic

Global resource demand

AI is not an "invisible cloud", but rather the result of extensive hardware support. Each large-scale model training requires thousands of servers. These servers rely on advanced chips, and the production of chips and the operation of data centers all consume a large amount of energy and metals.

The International Energy Agency predicts that the electricity consumption of global data centers will double within three years, approaching the annual electricity consumption of the entire Germany. The demand for metals such as copper, aluminium and silver has soared as they are important raw materials for power transmission and wafer manufacturing. In other words, the AI craze is essentially a "battle for resources".

The chain reaction of inflation

When the prices of energy and metals rise, manufacturing costs increase accordingly, which is eventually reflected in the end products, resulting in "imported inflation".

The IMF has warned that if investment in AI infrastructure accelerates, the global commodity market may face a second round of inflation. This means that the central bank's interest rate cut schedule will be postponed, and market uncertainty will intensify.

"Golden Character"

In the face of inflation and policy battles, the value of gold has been reassessed. Gold is not only a traditional safe-haven asset but also an important tool for hedging against inflation. Recently, the gold price has remained stable at a high level for a long time. This is not only due to geopolitical risks, but also the hidden inflation brought about by AI is a key factor.

Funds are flowing into AI concept stocks on one hand and into gold on the other, forming a dual investment pattern of "technology + risk aversion".

Investment Insights

The AI craze is not a one-way benefit for technology; it is more likely to trigger structural inflation.

In addition to chasing AI leaders, investors should also include gold and bulk commodities in their allocation to diversify risks.

In times of high volatility, defense is as important as growth.