AI market growth drives demand for platinum group metals and uranium

The global artificial intelligence market is projected by UNCTAD to grow from $189 billion in 2023 to $4.8 trillion by 2033. This expansion is expected to create new demand for specific raw materials required for AI infrastructure, including data centers, electronics, and energy supplies.

The World Platinum Investment Council (WPIC) identifies potential for platinum group metals (PGMs) in applications such as silicones, data storage, sensors, and fuel cells. Additionally, the high electricity demands of data centers are driving interest in reliable energy sources like nuclear power, which relies on uranium supplies.

Sibanye-Stillwater, an international producer of gold and PGMs with significant operations in South Africa and the United States, is positioned to benefit from these developments through mining and recycling. Furthermore, UBS Group AG has reported a 5.02 percent stake in Sibanye-Stillwater.