Diamond Foundry – a start-up growing diamonds in a laboratory – has gained a valuation of $1.8 billion after an investment of $200 million by Fidelity. The company is expected to boost its output to 5 million carats per year by the end of 2022, which would account for around 4.5% of global output by today’s standards. It would also represent roughly a quarter of the output of market leaders like De Beers, which produce diamonds through mining. Lab-grown diamonds typically cost around half of the cost of a mined diamond, which will boost their applicability in semiconductors, where their increased heat conductivity will increase the performance of electric vehicles, 5G technologies and data centers. South Korea has seen its…