Rivian Automotive's spinout, Mind Robotics, secured $400 million in a funding round led by Kleiner Perkins, with participation from Volkswagen and Salesforce venture arms. This investment raised Mind Robotics' valuation to $3.4 billion, up from $2 billion in March. The company develops AI-driven industrial robots, using Rivian's factories to train its systems. Rivian retains a stake, and CEO RJ Scaringe is chairman of Mind Robotics, highlighting the strategic importance of AI robotics for Rivian's manufacturing future.
Citi lowered its price target for Lucid Group to $14 from $17 but maintained a Buy rating, citing the company's Q1 2026 revenue miss and suspension of its 2026 outlook. Despite near-term challenges, including a net loss of about $1 billion and negati...
Mind Robotics, a spinoff from Rivian focused on industrial robotics, has secured an additional $400 million in funding, following a $500 million raise two months prior. Led by Kleiner Perkins with investments from Volkswagen and Salesforce venture ar...
Rivian has introduced its Rivian Assistant AI through a software update for R1T and R1S electric vehicle owners subscribed to the Connect Plus plan, with the feature also coming to the upcoming R2 model. The AI assistant operates natively on the vehi...
Tesla reported $22.39 billion in Q1 revenue with a 21.1% automotive gross margin, boosted by a 51% increase in Full Self-Driving subscriptions and a doubling of free cash flow to $1.44 billion. Rivian's revenue was $1.381 billion, but its automotive ...
