Bill Gates and Jeff Bezos Are Backing This $1 Billion Mining Company That Uses AI to Find Rare Earth Metals

Mining's biggest companies are already using artificial intelligence for a variety of purposes such as improving safety and efficiency. But an up-and-coming player has a technology that's wowed venture capital firms backed by some of the world's most famous investors.

I'm talking about KoBold Metals. The mineral exploration company, through AI, discovers rare earth Metals needed to power electric vehicles (EV). If KoBold is successful over time, this could be a big win for its investors -- and for the EV industry. Let's find out more about the company that may add to Bill Gates' and Jeff Bezos' successes.

Breakthrough Energy Ventures, founded by Gates and supported by Bezos as well as other billionaires -- from Jack Ma to Mark Zuckerberg -- participated in a $200 million funding round that brought KoBold's value to more than $1 billion. The story was originally reported by the Wall Street Journal.

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Source Fool.com