Rivian just had a big AI and autonomy event here at their offices in Palo Alto and they made a bunch of new announcements. So, let's get into it. So, the first big announcement is a new silicon chip designed in-house to power Rivian's Gen 3 AI computer.It can generate 1,600 trillion operations a second and will appear in the company's upcoming R2 vehicle starting at the end of 2026. Next, I got to experience Rivian's new universal hands-free feature that will work on three and a half million roads in North ...

Core Viewpoint - Rivian has agreed to a $250 million settlement regarding a 2022 shareholder lawsuit related to alleged misleading information about vehicle pricing and production costs [1][2][4]. Group 1: Lawsuit Details - The class-action lawsuit claims Rivian misled investors during its 2021 IPO by not disclosing that the R1S and R1T were priced below production costs, leading to inevitable price increases [2]. - In March 2022, Rivian raised the base price of the R1S and R1T by $12,000, which initially affected most reservations, but later allowed pre-order customers to pay the original price after backlash [3]. Group 2: Settlement Implications - Rivian maintains that the settlement does not imply any admission of fault or wrongdoing, and views it as an opportunity to focus on launching its mass market R2 vehicle in the first half of 2026 [4]. - The settlement is pending approval from the US District Court for the Central District of California, Western Division [4]. Group 3: Workforce and Market Challenges - Concurrently, Rivian is laying off 4.5% of its workforce, which amounts to over 600 employees, due to challenges such as the expiration of $7,500 tax credits, tariffs, and weakened demand for electric vehicles [5].