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0 0.000274499039253503 -0.000823497117760119 0.0123524567664014 0.0118034586878946 0.0101564644523745 0.0273950041174857 0.0164699423552018
Stock impact report

Rivian CEO on self-driving, designing AI chips, and why Tesla needs more competition [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
CEO RJ Scaringe launched the company's new Autonomy platform at the event — and during a trying time for the EV sector, in which so far only Tesla has achieved profitability. While Rivian has achieved gross profits in recent quarters, actual bottom-line (or net) profits have been elusive. Scaringe, who founded the company in 2011, saw Rivian go public in 2021 and reach stratospheric heights of $120 a share before the stock came back down to earth, now at $18. A crucial cash infusion from Volkswagen ( VWAGY ) of nearly $6 billion via a joint venture between the two companies has given Rivian much-needed breathing room. The following is a condensed version of Yahoo Finance's conversation with Scaringe, touching on the company's path toward full self-driving (FSD), or personal L4, as Rivian calls it, building in-house chips, and where the overall EV industry is headed. Yahoo Finance: Thanks for having us here, RJ. Rivian's Autonomy platform — talk to me about the progression from Show less Read more
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