AA

Alcoa Corp

research_scan theme='materials-supply'; value_chain_position='picks-and-shovels'; Aluminum is the datacenter and grid-interconnect input the Druckenmiller Q4 2025 13F named at ~$73M notional. Energy-intensive smelter footprint captures the AI-capex energy-price differential when hyperscalers underwrite PPAs. Explicit named example in Essay 15's Opportunity Framework.