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Rivian (NASDAQ:RIVN) vows to fast-track its AI and autonomous-driving tech with an AI and Autonomy Day this fall, aiming to bridge the gap with Tesla (NASDAQ:TSLA).
During its Q1 earnings call, Rivian highlighted the rollout of its Gen 2 Autonomy Platform on R1 vehiclescomplete with a refreshed perception stack and on-board inferenceand an in-house, hands-free feature that's already driving higher usage among second-generation owners.
CEO RJ Scaringe noted, The metaphorical plumbing for training our AI driving models is in place and the resulting benefits are just starting to be seen, underscoring the importance of Rivian's data flywheel and autonomy platform for future buyer decisions in the latter half of the decade.
Rivian plans to use its AI and Autonomy Day to unveil its full product roadmap and AI strategy. On Wall Street, Wedbush's Dan Ives kept an Outperform rating, praising Rivian's transformative vision and upcoming R2 and midsize platform ramps.
Morgan Stanley's Adam Jonas, with an Equal Weight rating, warned that the next few months will be critical in proving Rivian's software-defined, end-to-end AI credentials in the crowded autonomous race. Goldman's Mark Delaney stayed Neutral but highlighted Rivian's strong electrical architecture and software stack as foundations for long-term profit growth through autonomy and services.
Why it matters: Rivian's push into AI-driven autonomy could be a pivotal catalyst for consumer adoption and valuation, as autonomous features become a key differentiator in the EV market.
Investors will be watching for concrete demos, performance benchmarks and customer-usage metrics at the fall Autonomy Dayand for early signs of R2 production progresswhen Rivian reports Q2 results in late July.
This article first appeared on GuruFocus.