SpaceX reportedly generated $18.67B in 2025 revenue. OpenAI is being discussed around an $852B post-money valuation with $2B/month revenue. Anthropic is being valued around $965B. Databricks is sitting near $134B with a $5.4B annualized revenue run-rate. Stripe was marked around $159B.

That is an insane amount of AI, space, payments and data infrastructure value trying to hit public markets.

But here is the part I care about: the physical layer. The IEA projects data-center electricity consumption could roughly double to around 945 TWh by 2030. Data-center copper demand is projected to rise from 1.1M tons in 2025 to 2.5M tons by 2040.

That is why $NRED stays on my watchlist. NovaRed already showed AI-copper torque: C$0.05 →C$2.33, roughly 3,760%, turning $25K into nearly $965K at peak. Wilmac gives NovaRed 16,078 ha in BC, near Copper Mountain, with a 70% option.

The IPO names may fight over software margins. Copper still has to be mined.

Note: The information provided is for general informational purposes only and should not be considered professional advice.