Investors are backing AI technology as rising beef prices pressure consumers

New Zealand-based Halter is in talks to raise new funding in a deal expected to be led by billionaire Peter Thiel’s Founders Fund, according to a Bloomberg report. The round is attracting significant investor interest and is nearing completion, although final details are still under negotiation.

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A ranch hand herds cattle on horseback and drives them to the barns at Adams Ranch Inc. In St. Lucie County, Florida on July 9, 2013. (Ty Wright/Bloomberg/Getty Images)

Farmers are increasingly looking for ways to cut expenses and boost efficiency, changes that could ultimately impact food prices Consumers.

Beef prices have already begun to rise, and economists are warning Americans that they shouldn’t expect relief any time soon, as the U.S. cattle herd has shrunk to its smallest size in 75 years.

This decline was driven by years of… droughtHigh costs and an aging livestock workforce. Experts say rebuilding the herds will take years Beef prices It is likely to remain high.

According to USDA data, the average price of beef in grocery stores rose from about $8.60 per pound in February 2025 to $10.12 per pound the following year — an increase of nearly 18%.

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Against this backdrop, Halter is promoting technology that aims to help farmers achieve more with less.

The company runs on solar energy, artificial intelligenceControlled collars allow ranchers to graze livestock without fences, using GPS, sound and vibration signals controlled through a smartphone app. The system also tracks livestock health and movement in real time, giving farmers a way to manage herds remotely.

The goal is straightforward: fewer workers, lower costs, and more efficient land use.

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Cattle are displayed in pens at the Columbus Livestock Auction in Columbus Wednesday, October 8, 2025. (Melissa Phillip/Houston Chronicle/Getty Images)

Halter is part of a broader drive toward “precision agriculture,” where technology is used to modernize agriculture. But the sector has faced difficulties in recent years, with a wave of startups collapsing and investors retreating amid rising costs and slow adoption.

The company also expanded into the United States, opening an office in Colorado and targeting American ranchers as a key growth market.

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If the latest round concludes as expected, it will signal renewed confidence in AI’s ability to succeed in agriculture — an industry where many tech bets have failed.

Halter did not immediately respond to Fox News Digital’s request for comment.