Top 10 AI News Updates Analysts are Monitoring

6. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 40

Rivian Automotive, Inc. (NASDAQ:RIVN) designs, develops, manufactures, and sells electric vehicles and accessories. The company also utilizes artificial intelligence to develop advanced driver assistance systems (ADAS) within its electric vehicles. Research firm Guggenheim reiterated its Buy rating on the stock on February 24 but cut the price target to $16 from $18.

The research firm reiterated a buy rating in Rivian Automotive, Inc. (NASDAQ:RIVN), buoyed by its fourth-quarter financial results that showed success in achieving a gross profit of $170 million on improvements in variable costs. The California carmaker is quickly enhancing driver-assist features on the R1T pickup and R1S crossover by utilizing its second-generation vehicle platform and software advancements from artificial intelligence.