Rivian's $1.25 Billion Robotaxi Deal with Uber: A Mixed Bag for Shareholders

Uber invested up to $1.25 billion in Rivian, purchasing up to 50,000 Rivian robotaxies equipped with self-driving technology. The deal builds on Uber's efforts to develop robotaxis and competes with Alphabet's Waymo and Tesla. Rivian gained confidence in its self-driving system and cash, but gave up on its goal of developing a Level 4 autonomous-driving system in-house.