Barclays suggests that currencies of global emerging markets that produce key metals and minerals for artificial intelligence are poised for a boost in the coming years. In their 2026 research report on equities and government bonds, the bank's strategists note that as the AI construction boom translates into commodity prices, developing nations such as Chile, Peru, Brazil, Indonesia, and China are expected to benefit. The report analyzes the potential impacts of AI and humanoid robotics. Drawing a parallel with the commodity boom led by China in the early 2000s, the strategists write that these countries "should particularly benefit from this momentum, experiencing export growth, improved terms of trade, and increased investment."

Among the emerging markets highlighted, Chile and Peru are major copper exporters. Copper is critical for AI-related electrification due to its extensive use in power grids, transmission infrastructure, and data center wiring. Indonesia is the largest producer of nickel, a key input for batteries and energy storage systems needed to support the growing electricity demand driven by AI. Meanwhile, China controls rare earth magnets, which are essential for chip manufacturing equipment, data center infrastructure, robotics, and many other sectors.