Why Rivian Stock Sank After Its AI Event Today

Rivian will add an "autonomy computer" to its EVs, designed to enable advanced self-driving capabilities.Rivian Automotive (RIVN 4.86%) held its first "Autonomy and AI Day" today in Palo Alto, CA, and so far, it appears that analysts and investors have been underwhelmed. CEO R.J. Scaringe impressed the audience by announcing the company's first in-house Rivian autonomy processor, but shares still dove as much as 10% today anyway. As of 3:22 p.m. ET, with more investors likely watching the presentation's web ...