Apr. 18 at 9:47 PM
$RIVN $TSLA $SPY Rivian isn't lacking additional growth catalysts, either.
Management recently held its first "AI Day," outlining a large step up in artificial intelligence (AI) investments to reach full driving autonomy, a step that would allow it to compete directly with Tesla in the robotaxi market.
Other companies are already buying into this vision. Last month, Uber Technologies committed to invest up to
$1.25 billion in Rivian shares in exchange for the right to purchase up to 50,000 R2 SUVs, vehicles that will be used to power Uber's own robotaxi division.
Rivian's current market cap hovers at just
$20 billion. But by replicating Tesla's playbook for growth, it's not difficult to see the company surpassing a
$1 trillion valuation many years down the road.
