AI-Powered Mining Firm KoBold Metals Now Valued At $3 Billion

KoBold Metals, a Silicon Valley–based mining firm supported by billionaires like Bill Gates, Jeff Bezos, Marc Andreessen, and Reid Hoffman, has reached a valuation of $2.96 billion after raising $537 million in Series C funding, Fortune reported.

KoBold uses AI to locate critical minerals such as copper and lithium, essential for energy and AI technologies. I Photo: KoBold Metals

KoBold uses AI to locate critical minerals such as copper and lithium, essential for energy and AI technologies.

The company aligns with U.S. policy goals to reduce reliance on China's dominance in the critical minerals supply chain. CEO Kurt House stated that KoBold’s mission includes diversifying and expanding the global supply of essential materials, critical to economic prosperity and national security.