RAP1

that.Rivian’s first Autonomy and AI Day in Palo Alto showcased its in‑house RAP1 silicon chip and an upgraded AI‑driven software stack aimed at “personal Level 4” autonomy. The company promised OTA updates to its hands‑free system and hinted at chip licensing revenue. Shares fell 6% after the event but rebounded over 15% the next day; Needham lifted its price target 64% to $23, citing the technology rollout, while other analysts remained cautious about demand weakness, the loss of the EV tax credit and liquidity pressures. Rivian ends Q3 2025 with $7.7 billion in cash.