Rivian Automotive Aktie News

The EV maker is increasing autonomous features to compete with Tesla. Its shares sank 6%.

On Thursday, Rivian unveiled its in-house processor and computing platform for autonomous driving.

Rivian Automotive, Inc. (RIVN) Discusses AI-Centric Approach to Vehicle Autonomy and Technology Roadmap Prepared Remarks Transcript

Rivian announced its own autonomous driving processor. Rivian's upcoming Autonomy+ subscription will be offered beginning early next year.

Rivian Automotive RIVN-8.14% executives have dedicated the day to their vision for artificial intelligence and self-driving vehicles. But, so far, their words haven't been enough to break the stock from an AI slump that's gripping much of the stock market on Thursday.

Rivian Automotive on Thursday unveiled its first custom computer chip for self-driving and a new paid driver-assistance package called Autonomy+, as the electric-vehicle maker leans on artificial intelligence to boost revenue.

Rivian said Thursday that its forthcoming cars will feature lidar sensors, custom chips and an "autonomy computer" which will enable sophisticated, self-driving features. The company has also developed AI models to power its forthcoming Autonomy+ subscription, which it intends to roll out early next year priced at $2,500 up front or $49.99 a month.

Rivian detailed Thursday how it plans to make its electric vehicles increasingly autonomous — an ambitious effort that includes new hardware, including lidar and custom silicon, and eventually, a potential entry into the self-driving ride-hail market, according to CEO RJ Scaringe.