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Shares of TuSimple Holdings Inc made a lackluster U.S. stock market debut on Thursday, giving the self-driving truck maker a market capitalization of $8.5 billion.
April 16th, 2021 Walmart Walmart is signaling its commitment to autonomous deliveries with a new investment in self-driving company Cruise. The two already have a cozy relationship, having recently worked together on a delivery pilot in Scottsdale, Arizona. Walmart was so impressed with Cruise's "differentiated business, unique tech and unmatched driverless testing" that it decided to take part in the GM subsidiary's $2.75 billion funding round. The investment will see Cruise become an important part of the retailer's "last mile delivery ecosystem" — industry parlance for the final journe...
Self-driving truck maker TuSimple valued at $8.5 billion in Nasdaq debut By Syndicated Content Apr 15, 2021 11:17 AM (Reuters) - Shares of TuSimple Holdings Inc made a lackluster U.S. stock market debut on Thursday, giving the self-driving truck maker a market capitalization of $8.5 billion. TuSimple shares opened at $40.25, marginally higher than their initial public offering (IPO) price of $40 per share. The San Diego, California-based company sold about 27 million shares in its IPO while some stockholders sold about 6.8 million shares. TuSimple received about $1.1 million in pr...
By Reuters Staff 2 Min Read (Reuters) -Self-driving truck startup TuSimple Holdings Inc said on Wednesday it was targeting a valuation of more than $8 billion in its U.S. initial public offering (IPO). TuSimple is the third company to announce plans to raise more than a billion dollars through share sales on Wednesday, as companies continue to tap into the red-hot U.S. IPO market. The company said it aims to raise about $1.3 billion by selling about 34 million shares between $35 and $39 apiece. Many startups, automakers and large technology companies, including Google’s Waymo and China-base...
Share: As the special purpose acquisition companies' (SPACs) love affair with electric vehicle startups cools, infatuation backed by blank check-writing investors may blossom for self-driving truck startups. After several months of stock price run-ups in SPAC-sponsored electric vehicle and infrastructure companies, prices have fallen dramatically in recent weeks. In some cases, they are edging close to their original $10-per-share offering price. One target in the shift from electrification appears to be well-capitalized self-driving truck startup Plus. It closed a $200 million funding round ...