Rivian shares jump as AI robotics spinout Mind Robotics closes $400M round

Rivian Automotive Inc (NASDAQ:RIVN) shares rose 4.2% on Wednesday after its spinout Mind Robotics, an artificial intelligence-driven industrial robotics company, closed a $400 million funding round that valued the startup at $3.4 billion. The May 2026 round was led by Kleiner Perkins and also drew participation from the venture arms of Volkswagen and Salesforce.