Freeport-McMoRan Points to AI Data Center Demand and Return–Risk Profile
Over the past five years Freeport-McMoRan’s daily moves tracked the S&P 500 with a 0.57 correlation. Management’s July 2026 account says US customer order books for AI data centers and related energy infrastructure are strong, with improved auto demand offsetting private construction weakness. Freeport returned 20.1% annualized at 45.4% volatility, with an investment-grade balance sheet and no major debt maturities in 2026.