Rivian Automotive (RIVN) Unveils Custom AI Chips and Autonomy Strategy, Needham Boosts Price Target

Rivian Automotive, Inc. (NASDAQ:RIVN) ranks among the best stocks under $25 to buy now. On December 12, Needham analyst Chris Pierce boosted Rivian Automotive, Inc. (NASDAQ:RIVN)’s price target to $23 from $14, retaining a Buy rating on the company’s shares. The boost comes after Rivian’s inaugural Autonomy & AI Day, where the company introduced its customized silicon chips, next-generation autonomy service, and extensive AI integration plan.

During the event, Rivian Automotive, Inc. (NASDAQ:RIVN) unveiled its third-generation Autonomy Compute Module (ACM3), which produces 1600 sparse INT8 TOPS (Trillion Operations Per Second), and its custom-built Rivian Autonomy Processor (RAP1). The company hopes to include this technology together with LiDAR into its planned R2 vehicles starting in late 2026.

Additionally, Rivian Automotive, Inc. (NASDAQ:RIVN) revealed plans to introduce Autonomy+, an autonomy subscription service, in early 2026. The service will cost $2,500 up front or $49.99 per month. The company also unveiled Rivian Assistant, an AI-powered next-generation speech interface that will be compatible with both first and second-generation R1 cars.

Rivian Automotive, Inc. (NASDAQ:RIVN) designs, develops, and manufactures category-defining electric vehicles and accessories. Its operations are divided into the following segments: Automotive, Software, and Services.

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Disclosure: None. This article is originally published at Insider Monkey.