Summary
99U Chart
Rivian Unveils Custom AI Chip, Reduces Dependence on Nvidia
Rivian Automotive unveiled a custom artificial intelligence (AI) chip and a comprehensive autonomy platform designed and engineered in-house. The announcement, made at the company's first “Autonomy & AI Day” in Palo Alto, California, marks a departure from reliance on third-party computing solutions such as Nvidia's processors.
Rivian (NASDAQ: RIVN) Price Prediction and Forecast 2025-2030 for December 16
Shares of Rivian Automotive (NASDAQ:RIVN) gained 7.04% over the past five trading sessions after gaining 2.47%% the five prior.
Rivian's Autonomy Bombshell Changes Everything—Even Its Valuation
Rivian Automotive NASDAQ: RIVN shares jumped 12.1% on Friday, Dec. 12, closing at $18.42. This double-digit rally stands out against a backdrop of general unease in the electric vehicle (EV) sector.
Rivian Automotive, Inc. Class A Common Stock (99U) FAQ
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Rivian Automotive, Inc. Class A Common Stock Profile
| Automobiles Industry | Consumer Discretionary Sector | Robert Joseph Scaringe CEO | XMUN Exchange | US76954A1034 ISIN |
| US Country | 14,861 Employees | - Last Dividend | - Last Split | 10 Nov 2021 IPO Date |
Overview
Rivian Automotive, Inc., established in 2009 and headquartered in Irvine, California, is at the forefront of electric vehicle innovation. With a focus on creating sustainable transport solutions, Rivian develops, manufactures, and sells a range of electric vehicles and accessories, primarily targeting the consumer market. By offering not only vehicles but also a suite of consumer services, the company aims to enhance the electric vehicle ownership experience. Rivian's commitment to sustainability extends beyond personal transport, as seen in their collaboration with Amazon.com, Inc. for electric delivery vans, aiming to redefine commercial logistics and reduce carbon footprints.
Products and Services
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R1T Pickup Truck
A two-row, five-passenger electric pickup truck designed for both efficiency and adventure, offering a unique blend of performance and utility for the environmentally conscious consumer.
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R1S Sport Utility Vehicle
An electric three-row, seven-passenger SUV that combines luxury, space, and off-road capability, providing a versatile option for families and adventure enthusiasts alike.
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Consumer Services
Rivian enhances the vehicle ownership experience through a range of services, including digital financing and leasing options, telematics-based insurance, comprehensive vehicle maintenance and repair services, innovative software services, and versatile charging solutions.
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Rivian Adventure Network and Charging Solutions
The company is not only about manufacturing electric vehicles but also about enabling their use in everyday life and adventures. Rivian has developed the Rivian Adventure Network, a series of Direct Current fast chargers, to support the electric adventure lifestyle. Additionally, Rivian offers access to the Combined Charging Standard (CCS) for broader compatibility with public charging networks.
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FleetOS
A proprietary, end-to-end centralized fleet management subscription platform, FleetOS, signifies Rivian's entry into the commercial sector, offering seamless management of electric vehicle fleets, including the Electric Delivery Van developed in collaboration with Amazon.com, Inc.
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Rivian Commercial Van
In partnership with Amazon.com, Inc., Rivian has developed an electric delivery van platform aimed at revolutionizing logistics and reducing the carbon footprint of delivery services. This initiative highlights Rivian's commitment to sustainable commercial transport solutions.
