Barrick Gold Inks Five-Year AI Deal Before IPO
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AI is top of mind for stock investors these days. That means even companies outside tech are beefing up their AI credentials ahead of new listings.
In one such example, Barrick Gold’s North American unit has agreed to a five-year partnership with Avathon, a startup that develops AI-powered software to help industrial companies predict when expensive equipment will fail and monitors mine and factories sites for safety risks, Avathon CEO Pervinder Johar told me.
Barrick is planning to float a minority stake in its North American unit, which produces the majority of its gold. The company has targeted year-end for the listing.
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