Rivian announces new AI tech, in-house chip and robotaxi ambitions (www.cnbc.com)

Rivian Automotive has unveiled significant advancements in its self-driving technology at its inaugural "Autonomy and AI Day" in Palo Alto, introducing a custom chip and advanced AI models designed for its upcoming vehicles. Central to these innovations are lidar sensors and an "autonomy computer" that will support a subscription service called Autonomy+, set to launch early next year at $2,500 upfront or $49.99 monthly. This offering aims to provide "continuously expanding capabilities," allowing features like "Universal Hands-Free," which will enable hands-free driving on over 3.5 million miles of roads in North America. The significance of Rivian's developments lies in its ambition to achieve level 4 automation, a level of self-driving capability where passengers can relax without needing to monitor the vehicle. This positions Rivian not only to enhance the consumer experience in personal electric vehicles but also to explore opportunities in the rideshare market with potential robotaxi services. As Rivian navigates a competitive landscape with other automakers pursuing similar autonomous technologies, these advancements may play a crucial role in securing investor confidence and addressing declining sales in the electric vehicle sector.