Donald Trump’s pursuit of Greenland has sparked widespread ridicule. Yet, this seemingly outlandish ambition is starting to look less like a joke and more like a strategic move benefiting the tech giants who supported his presidential campaign. Emerging reports reveal a vested interest in Greenland’s resources from some of Trump’s most prominent financial backers.
Tech Titans Eye Greenland’s Mineral Riches
KoBold Metals, a startup focused on mining raw materials crucial for AI development, is at the center of this Greenland intrigue. Backed by tech industry titans like Jeff Bezos, OpenAI CEO Sam Altman, and Meta CEO Mark Zuckerberg, KoBold utilizes AI to locate valuable metals such as cobalt, lithium, copper, and nickel. Other prominent investors include billionaire venture capitalist Marc Andreessen, a staunch Trump supporter, and Microsoft magnate Bill Gates.
KoBold is actively involved in the Disko-Nuussuaq project, a mining operation exploring Greenland’s western coast for these essential minerals. They’ve also secured a Mineral Exploration License for Disko Island, valid from 2024 to 2030.
Another key player is Critical Metals, a firm with plans to commence mining operations in Greenland by 2026. Cantor Fitzgerald, a powerful financial institution owned by Trump’s nominee for U.S. Commerce Secretary, Howard Lutnick, holds a stake in Critical Metals. While Lutnick intends to divest from Cantor Fitzgerald if confirmed, his potential influence over trade policy relating to Greenland raises eyebrows.
This suggests that acquiring Greenland could be driven by the need for lithium for electric vehicle batteries and precious metals essential for data center construction.
The AI Factor: Fueling the Greenland Rush
The AI industry’s ambitious expansion plans require readily accessible raw materials and energy. The Trump administration’s recently announced “Stargate” project, a $500 billion initiative to build data centers across the U.S., is funded by OpenAI, NVIDIA, Microsoft, Oracle, and other AI giants. This project aims to establish a robust AI infrastructure, positioning America to compete with China in the race for advanced AI. We reached out to both KoBold and Critical Metals for comment.
Furthermore, the “Network State” movement, a Silicon Valley-backed initiative aiming to create privately-funded, crypto-powered cities globally, has expressed interest in Greenland as a testing ground for their urban development projects.
Greenland’s Reluctance and Geopolitical Implications
Despite Donald Trump Jr.’s assertions, Greenland shows little interest in American ownership. Recent polls reveal minimal support among Greenland’s residents for joining the U.S. Denmark, which currently holds sovereignty over Greenland, strongly opposes the idea and is prepared for a potential trade war with the U.S.
The rush to invest in Greenland appears connected to the broader geopolitical rivalry between the U.S. and China, with AI viewed as the pivotal innovation of our time. Both nations are vying for technological dominance. Michael Waltz, Trump’s incoming national security adviser, recently stated, “This is about critical minerals, this is about natural resources,” regarding the Greenland acquisition. The underlying motivation couldn’t be clearer.
