Rivian (RIVN) Set to Showcase AI and AV Progress – Here’s What to Watch

We recently published a list of 10 AI Stocks on Latest News and Ratings. In this article, we are going to take a look at where Rivian Automotive, Inc. (NASDAQ:RIVN) stands against other best AI stocks on latest news and ratings.

Rivian Automotive, Inc. (NASDAQ:RIVN) is an automaker that creates and manufactures electric vehicles, as well as software and services. On May 22, Barclays analyst Dan Levy reiterated an “Equal Weight” rating on the stock with a $14.00 price target. According to the firm, there is growing momentum in Rivian’s autonomous vehicles driven by its R2 platform. This platform has the potential to be licensed to other original equipment manufacturers (OEMs).

Rivian (RIVN) Set to Showcase AI and AV Progress - Here’s What to Watch

A state-of-the-art electric vehicle charging at a station at a suburban mall.

The company is also expected to showcase its capabilities in autonomous vehicles and artificial intelligence (AI) during the company’s AV/AI day in the fall. The event will highlight Rivian’s advancements in these areas. The analysis also highlighted potential benefits Rivian may receive from the U.S. electric vehicle tax credit, offering partial financial support to the company until 2026. Overall, the firm is watchfully optimistic about the company based on both the company’s progress in key technological areas and the broader financial and strategic challenges it is facing in the EV market.

Overall, RIVN ranks 9th on our list of best AI stocks on latest news and ratings. While we acknowledge the potential of RIVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RIVN and that has 100x upside potential, check out our report about this cheapest AI stock.

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