Rivian shares surge as analysts cheer shift to custom self-driving chip, AI strategy

Core Viewpoint - Shares of Rivian Automotive increased by 18% following positive analyst commentary regarding the company's development of a custom chip for self-driving features and its initiatives in the electric vehicle market [1] Group 1: Company Developments - Rivian Automotive is focusing on creating a custom chip aimed at enhancing self-driving capabilities, which is seen as a significant step forward in its technology development [1] - The bullish sentiment from analysts reflects confidence in Rivian's potential to innovate within the electric vehicle sector, particularly in the pickup truck and SUV segments [1] Group 2: Market Reaction - The 18% surge in Rivian's stock price indicates strong market enthusiasm and investor confidence in the company's future prospects [1]