Kevin Simpson has added Freeport-McMoRan to his dividend portfolio, betting that rising copper demand from AI and data centers will drive strong earnings growth despite the stock's volatility. The Phoenix-based miner benefits from constrained new supply—mines take years to develop—while Freeport's Indonesian Grasberg operation ramps up production amid historically high copper prices. At a 2027 P/E of 19x, Simpson views the risk-reward as attractive.