In other news, KoBold Metals, another company backed by Bezos, has discovered a significant copper deposit in Zambia. The Mingomba copper project could rival top high-grade copper mines globally. The company plans to conduct an updated resource assessment and feasibility studies before deciding on the construction of a $2 billion facility. Despite global low-cost concerns affecting battery metal projects, KoBold remains undeterred and plans to spend nearly $100 million on exploration in 2023.
Key takeaways:
- Jeff Bezos, through Explore Investments LLC, has invested $100 million in Figure AI Inc., a startup developing humanoid robots. The company is currently raising approximately $675 million in a funding round with an estimated pre-money valuation of $2 billion.
- Other investors in this round include Microsoft, Nvidia, Intel Corp.'s venture capital arm, LG Innotek, Samsung's investment group, Parkway Venture Capital, Align Ventures, ARK Venture Fund, Aliya Capital Partners, Tamarack, Boscolo Intervest Ltd., and BOLD Capital Partners.
- Another Bezos-backed company, KoBold Metals, has discovered a significant copper deposit in Zambia. The company plans to conduct an updated resource assessment and feasibility studies before deciding on the construction of a $2 billion facility.
- Amazon, where Bezos served as CEO until 2021 and remains chairman, laid off 18,000 personnel last month, marking its largest workforce reduction. The layoffs are part of Amazon's strategy to streamline processes and address the impact of the COVID-19 pandemic.