KoBold Metals, a private company supported by industry leaders like Bill Gates and Jeff Bezos, utilizes AI to discover critical metals like copper for the energy transition. Recently valued at $2.96 billion, KoBold has raised $1 billion and aims to compete with Chinese mining firms. It has found a significant copper deposit in Zambia and signed an earn-in agreement to explore additional areas. As AI and data centers increase energy demand drastically, the company collaborates with major mining firms and anticipates a public offering. The rising electricity needs are reshaping the energy market, benefiting utility stocks like Vistra and GE Vernova.