Metal Movers: Minor metals in the age of Artificial Intelligence

In this episode Argus analysts examine how data centre growth for artificial intelligence is driving demand in some of the most exposed minor metal markets. Materials like germanium and indium phosphide are playing a key role in data transfer devices and optical connections within data centres, while gallium nitride power electrics are increasingly deployed to improve energy efficiency. But supply of these metals has been restricted by export controls and geo-political instability just as demand is beginning to boom. Topics discussed: The role of gallium nitride power electronics in AI data centre infrastructure and how the gallium market outside China could expand to meet demand. How germanium and indium phosphide are used in high-speed data transfer and optical connections within data centres and how these markets are affected by China’s export control policies. The supply constraints faced by the tantalum industry at a time when tantalum demand from the capacitor industry, chip makers, and energy sector is growing rapidly.