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Stock impact report

Rivian’s AI pivot is about more than chasing Tesla [Verge, The]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Verge, The
RJ Scaringe is sitting in Rivian's Palo Alto offices, explaining why the adventure-themed EV company suddenly decided to build its own self-driving cars, when an unexpected guest glides by the window outside: Waymo. A robotaxi from the Alphabet-owned company pulls up outside the office. The passenger, an analyst from Goldman Sachs, briefly takes a selfie before climbing inside. The Rivian founder and CEO chuckles at the scene. “That's amazing,” he laughs. “So perfect.” The arrival of the Waymo helps clarify the challenge that lies ahead for Rivian. A few hours earlier, Scaringe was onstage in front of an audience of hundreds of investors, reporters, and influencers gathered for the company's announcement of a huge, expensive, and undeniably risky bet on autonomy and AI. The goal, he said, is for Rivian to design its own AI chips that can help power higher levels of autonomy, eventually leading to Level 4 — no human supervision required within certain limits. Could Rivian achiev Show less Read more
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