The California-based company, which uses AI to identify critical minerals deposits, has sold about US$163.4 million in equity since Oct. 30, according to a filing with the Securities and Exchange Commission on Friday. (The Logic, Axios)

Talking point: It’s the second raise this year, after KoBold closed a US$537-million funding round in January that valued it at US$2.96 billion. KoBold is backed by CPP Investments and Breakthrough Energy Ventures, an investment firm funded by billionaires including Bill Gates and Shopify CEO Tobias Lütke. KoBold’s fresh funding comes amid growing investor interest in mining stocks, after the U.S. government took stakes in mining companies and the Canadian government said it was open to striking similar deals. KoBold has disclosed an interest in Quebec, where it has permits to explore three sites.