When most people think about “investing in AI stocks,” they think about the potential for explosive capital gains. After all, AI stock leaders such as Palantir (PLTR) and NVIDIA (NVDA) are up more than 1,000% over the past three years.
Last year was extraordinary for investors in critical resources. Lithium miners advanced 59%. Uranium advanced climbed 59%. Copper miners advanced 88%. Gold miners advanced 152%. And silver miners took the gold medal by advancing 162%.
Break out, advance, consolidate. Break out, advance, consolidate. Rinse and repeat. That is the classic behavior of a multi-year bull market. Prices move into new, higher territory (the breakout), the trend rallies and makes the longs a lot of money (advancement), and then the trend takes a breather, moves sideways, and digests the gains (consolidate).
AI bulls can start 2026 with a spring in their step. After all, the VanEck Semiconductor ETF (SMH) is trading at an all-time high, and they are winning the great “AI Boom or AI Bust” debate.