Freeport-McMoRan Inc. (NYSE:FCX) is one of the best copper stocks to buy for the AI and electrification boom. The company’s most recent investor-relevant update came on May 8, 2026, when Reuters reported that Freeport Indonesia had pushed back the full recovery timeline for the Grasberg Block Cave mine to early 2028. The update followed repairs and infrastructure changes after a mudflow incident, with production in undamaged areas running at about 40% to 50% of capacity.

The delay highlights the execution risk attached to one of Freeport’s most important copper assets, but it also keeps the stock central to the copper supply story. Freeport remains one of the world’s largest publicly traded copper producers, with major assets including Grasberg in Indonesia, Morenci in Arizona, and Cerro Verde in Peru. For investors tracking AI power infrastructure and electrification, FCX offers direct copper-price and copper-supply exposure rather than a direct data-center customer angle.

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Freeport-McMoRan Inc. (NYSE:FCX) is a Phoenix-based mining company focused on copper, gold, and molybdenum across North America, South America, and Indonesia.

While we acknowledge the potential of FXC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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