2026 Market Outlook: Why Boring Investments May Outperform the Next Wave of AI

Hey everyone,

Nobody's getting hyped about boring stocks, but here we are, launching our “Boring Investments” series anyway.

We're breaking down the investments that could actually move the needle in 2026. Give it a read, then hit the poll at the end and tell us if we're onto something.

Here's a question nobody's asking: what happens when the AI story hits a wall?

Not saying it will. 

But 2026 might be the year we find out. And if you're only invested in tech, you need to read this.

71% of companies can't figure out how to make money from AI. That's from a global survey of 614 CFOs. Think about that for a second.

Companies are spending $2 trillion on AI in 2026. But most can't turn it into profit. MIT found that 95% of businesses using AI haven't seen enough improvement in profitability or cash flow to justify the costs.

Even ChatGPT, with 800 million weekly users, isn't profitable. And won't be for years.

Here's why: AI burns electricity. One ChatGPT query uses 0.34 watt-hours of energy, way more than a Google search. Multiply that by millions of queries, and the power bill gets ridiculous fast.

This creates a problem. If companies can't monetize AI, they'll eventually cut spending. And when that happens, tech stocks, which are already trading at 24.99x forward earnings for the S&P 500, could face a serious correction.

But here's the thing: even if AI spending slows, the infrastructure is already being built. Data centers still need power. Chips still need materials. And that's where commodities come in.

Remember the gold rush? The people who made the most money weren't the miners. They were the ones selling tools.

Same thing here. Tech companies might struggle to profit from AI. But the companies providing the raw materials? They're positioned to win either way.

AI data centers need 80-100 gigawatts of new electricity generation per year in the U.S. alone. That's equivalent to 80-100 nuclear plants.

Solar won't cut it. You'd need to cover 759,000 to 957,000 acres with solar panels every year just to keep up. That's bigger than Rhode Island.

Nuclear makes sense. It runs 24/7. It's clean. And small modular reactors can be deployed quickly—even on-site at data centers.

The uranium play: Global X Uranium ETF (URA) and Sprott Uranium Miners ETF (URNM) both outperformed the S&P 500 in 2025. With nuclear demand accelerating, this trend looks sustainable.

Every AI server needs copper. Every power line needs copper. Every EV needs copper.

Copper prices surged 44.9% in 2025. Global X Copper Miners ETF (COPX) jumped 98.3%.

This isn't hype. It's math. More data centers plus more electric infrastructure equals more copper demand. And supply isn't keeping pace.

Here's something interesting: some data centers are installing gas turbines on-site to generate their own power. They're tired of waiting years for grid connections.

This creates steady demand for natural gas producers and pipeline operators:

Utilities are also replacing old coal plants with natural gas. It's cleaner than coal, more reliable than renewables, and available right now.

Note on crude oil: OPEC is keeping oil prices suppressed. Don't expect energy stocks tied to crude to rally much in 2026 unless geopolitical tensions spike dramatically.

Gold gained about 70% in 2025. Silver was even better. Platinum? Up over 100%.

Why? Two reasons.

First: Fed rate cuts. The Fed expects two 25-basis-point cuts in 2026. Lower rates make cash less attractive. Gold pays 2-4% through leasing arrangements—competitive with bonds, but with upside if prices rise.

Second: inflation hedge. Even though consumer inflation expectations are "only" 3.2% for 2026, precious metals are pricing in something else. Maybe currency concerns. Maybe geopolitical risk. Maybe just smart money hedging concentrated tech exposure.

From December 10, 2025 (the last Fed meeting) through year-end:

Look at the top 10 companies in the S&P 500. Nine are tech. They represent 37.65% of the entire index.

The S&P 500 Technology Sector alone is 34.46% of the index.

When one sector dominates this much, the whole market becomes dependent on that sector's performance. If AI disappoints, there's nowhere to hide in a traditional index fund.

The commodity alternative offers diversification. Uranium miners, copper producers, and precious metals don't move in lockstep with tech. They respond to different fundamentals.

Bank of America's chief investment strategist Michael Hartnett says it directly: "Trump's policy of political populism and inflationary growth will lead to a commodity boom that outpaces bonds next year."

Metals, natural resource stocks, and Latin American equities (commodity proxies) are already breaking out.

You don't have to choose between tech and commodities. But you do need balance.

If you're heavy in tech: Add uranium, copper, or precious metals for diversification.

If you want income: Natural gas pipelines like Energy Transfer $ET ( ▲ 0.8% ) pay solid dividends while benefiting from AI infrastructure demand.

If you're worried about valuations: Commodity producers trade at much cheaper multiples than tech while offering exposure to the same AI buildout theme.

If you want a hedge: Gold and silver have proven their worth as portfolio insurance during uncertain times.

Weiss’ gold expert Sean Brodrick found five companies that he believes could deliver explosive gains from gold surge.*

2026 might be the year commodity stocks outperform tech. 

Not because tech fails, but because commodities are solving the infrastructure bottleneck that tech created.

AI needs power. Power needs uranium and natural gas. Infrastructure needs copper. Uncertainty drives precious metals.

These aren't random picks. They're connected to the same mega-trend driving tech higher—but with better valuations and less concentration risk.

The gold rush might be in AI. But the real money could be in selling the picks and shovels.

S&P 500 forecast for year-end 2026: 7,800-8,000

Stay informed. Stay diversified. And remember, sometimes the best tech play isn't a tech stock.

P.S. My silver position has doubled in value — up 102.8% so far, and I believe it won’t end.

Curious where you stand after this first issue 👇
Vote in the poll and tell me: what’s your favorite “boring” investment right now?