- Rivian shares rose up to 18% following its first Autonomy & AI Day event.
- The company introduced a custom chip, new vehicle computer, and AI models aimed at self-driving features.
- Rivian plans an update expanding hands-free driving to over 3.5 million miles of U.S. and Canadian roads.
- Wall Street analysts revised Rivian‘s stock price target, with one raising it by more than 64% to $23 per share.
- Rivian shares have gained nearly 40% in 2025, outperforming the S&P 500 index.
Shares of Rivian (RIVN) surged up to 18% on Friday morning after the company hosted its first Autonomy & AI Day event. During the event, Rivian revealed a custom-designed chip, a new vehicle computer system, and Artificial Intelligence models aimed at integrating autonomous driving features into future vehicles.
The electric vehicle manufacturer announced plans to update its second-generation R1 models to expand hands-off driving capability to over 3.5 million miles of roads across the U.S. and Canada. This is a significant increase from the current coverage of under 150,000 miles, bringing Rivian closer to matching Tesla’s (TSLA) Autopilot system, which already covers most roads in the U.S., according to Barclays analysts.
Following the event, Wall Street showed increased optimism about Rivian‘s autonomous driving and robotaxi potential. Needham analyst Chris Pierce stated, “RIVN signaled a shift from an [automaker] adopting autonomy to one leveraging AI to build end-to-end autonomy.” Deutsche Bank analyst Edison Yu also commented, “We attended Rivian’s Autonomy & AI Day yesterday in Palo Alto and came away mostly impressed with the strategic direction outlined by management.” However, Yu noted that the recent stock weakness was understandable due to the rally after earnings and the absence of any new AI partnership announcements.
Pierce raised his price target for Rivian shares by over 64%, from $14 to $23 per share, applauding the company’s progress on its technology roadmap. Despite still being below its 2021 highs, Rivian stock has climbed nearly 40% in 2025, surpassing the S&P 500’s 16% gain. The stock is trading near the top of its 52-week range and above its 200-day simple moving average.
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