Jeff Currie Says AI Boom Sets Up Commodities for Decade-Long Run

Veteran strategist Jeff Currie said the world is in the early stages of a commodity supercycle that may last another decade or more as the artificial intelligence buildout collides with chronic underinvestment in energy and materials capacity.

The energy sector presents “the biggest asymmetric trade in modern finance” because oil companies are returning a 15.5% free cash flow yield while hyperscalers have none, Currie said Tuesday on Bloomberg Television’s Surveillance. Even with the supply shock now rippling across the globe, the supercycle could run 10 to 12 more years, he said.