Watching the SpaceX debut today, it's hard not to notice how much optimism has returned to the market. Investors seem willing to look past short-term uncertainty and focus on what the next decade could look like.

That's what makes this IPO so interesting to me. It's not really a bet on rockets. It's a bet that AI keeps expanding, data centers keep getting built, power demand keeps rising, and global communications infrastructure keeps growing.

The more I think about it, the more I feel like the market is telling us that a massive infrastructure cycle is underway.

And every infrastructure cycle eventually comes down to physical materials.

Everyone wants exposure to the companies building the future. Far fewer people are looking at the industries supplying the raw inputs. That's where I've been spending most of my time lately.

While digging around, I came across a small company involved in copper scrap and recycling. It's not a flashy AI story and it definitely won't get CNBC coverage, but if demand for infrastructure keeps accelerating, businesses tied to copper supply could quietly benefit from the same trends driving all this excitement.

Just something I've been researching while everyone else watches the opening bell.

SpaceX Is the Headline. The Infrastructure Trade Might Be the Real Story.