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MP And Saudi Arabia Team Up For Rare Earth Refining, Google's Robotics Bet, And Cipher's Mega HPC Deal

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November 22, 2025

MP Materials Is Bringing A Rare Earth Refinery To Saudi Arabia

MP Materials (NYSE: MP) and the United States Department of War entered into a joint venture with Saudi Arabian Mining Company to build a new rare earth refinery in Saudi Arabia. The new rare earth refinery will proceed feedstock that is mined within Saudi Arabia and other regions globally to be processed into both separated light and heavy rare earth oxides.

Google’s Investment Arm Leads Mega Round For Robotics Software Company

Google’s (NASDAQ: GOOG) independent investment fund CapitalG led a new $600 million Series B financing round into Physical Intelligence, developers of leading edge general purpose artificial intelligence models that are designed to be compatible with multiple different types of robotics hardware. Jeff Bezos, Lux Capital, Thrive Capital and Index Ventures also participated.

Cipher Mining Cuts New $830 Million High Performance Computing Deal

Cipher Mining (NASDAQ: CIFR) landed a new high performance computing co-location deal with Fluidstack AI for an additional 56 megawatts of hosting capacity at their Barber Lake data centre located in Texas. The initial deal is expected to generate roughly $830 million in revenue for Cipher Mining over 10 years, and Google (NASDAQ: GOOG) has committed to backstopping $333 million of the new lease obligations.

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