Argo AI Founders Launch New Self-Driving Truck Startup Stack AV with $1B From SoftBank

Founders of defunct self-driving startup Argo AI launched new autonomous trucking firm Stack AV with over $1B investment from SoftBank.
Stack AV based in Pittsburgh and has 150 employees. Led by Argo founders Bryan Salesky, Peter Rander, and Brett Browning.
Comes as concerns grow over technological and regulatory challenges for autonomous trucking. Competitors like TuSimple and Embark recently laid off staff.
Stack AV aims to "revolutionize" trucking and freight industries with proprietary tech and SoftBank backing.
Self-driving truck efforts also underway at Aurora, Daimler Truck, PACCAR, Volvo, though full autonomy likely years away.

reuters.com

Relevant topic timeline:

8/21/2023

Arm IPO to put SoftBank's AI hard sell to the test

### Summary Investors are waiting for Arm's Nasdaq IPO filing to determine if the chip designer will experience "exponential growth" due to the AI boom, as CEO Masayoshi Son claims. ### Facts - 📈 SoftBank, the owner of Arm, has positioned the chip designer as a key asset for the conglomerate's AI-related companies. - 💰 SoftBank valued Arm at $64 billion, but analysts value it around $47 billion. - 💻 Arm does not sit at the center of the AI boom but is more AI-adjacent. - 💡 Arm specializes in energy-efficient central processing units (CPUs) that can complement Nvidia's advanced semiconductors. - 🌐 Arm's opportunity lies in providing intellectual property for AI and machine learning in devices used by end users. - ❓ Analysts question whether 85% of SoftBank's portfolio companies can truly be described as AI-related.

8/21/2023

What ARM's expected debut means for the IPO market and SoftBank

SoftBank-owned Arm has filed for its initial public offering (IPO), which will be a major test for the IPO market that has been stagnant due to rising interest rates, and is a significant move for SoftBank as it pivots its focus to artificial intelligence. Arm's chip designs are found in almost all smartphones globally, and the company's listing has implications for SoftBank's rebound strategy.

9/5/2023

SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year

SoftBank Group's chip designer Arm is seeking a valuation of more than $52 billion in its initial public offering, targeting the largest U.S. stock market flotation of the year.

9/10/2023

SoftBank Bets $1B on New Self-Driving Truck Startup As Robotaxi Players Face Scrutiny

Paris has banned shared e-scooters from the city, but is encouraging e-bike sharing as an alternative, according to Wayne Ting, CEO of Lime, which now has more e-bikes in the city than scooters. Meanwhile, SoftBank Group has invested over $1 billion into autonomous vehicle startup Stack AV, which focuses on self-driving trucks, signaling a willingness to invest in AV startups while others hold back. Other notable news includes battery material manufacturer Ascend Elements raising $542 million in new investments, and EV subscription company Autonomy acquiring technology and assets from EV Mobility.

9/14/2023

SoftBank's Arm Holdings Goes Public in $54.5B IPO, Biggest US Listing Since 2021

SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq with a valuation of $54.5 billion, marking a potential test for IPOs in the United States after a lengthy drought.

9/15/2023

SoftBank Plays it Safe with Modestly Priced Arm IPO After Recent Losses, Still attracts Big Tech Interest

SoftBank's initial public offering of Arm Holdings was a success, with the shares gaining 25% on their debut, although the company left potential profits on the table by pricing the IPO lower than it could have been.

9/16/2023

SoftBank Sets Sights on AI After Arm IPO, With Billions Eyed for OpenAI and Other Deals

SoftBank is reportedly seeking AI deals, including a potential investment in OpenAI, after the successful IPO of its Arm unit, with the company's founder and CEO, Masayoshi Son, planning to invest billions of dollars in AI technology.

Topics

Posted 9/7/2023, 4:43:00 PM

Argo AI Founders Launch New Self-Driving Truck Startup Stack AV with $1B From SoftBank

Founders of defunct self-driving startup Argo AI launched new autonomous trucking firm Stack AV with over $1B investment from SoftBank.
Stack AV based in Pittsburgh and has 150 employees. Led by Argo founders Bryan Salesky, Peter Rander, and Brett Browning.
Comes as concerns grow over technological and regulatory challenges for autonomous trucking. Competitors like TuSimple and Embark recently laid off staff.
Stack AV aims to "revolutionize" trucking and freight industries with proprietary tech and SoftBank backing.
Self-driving truck efforts also underway at Aurora, Daimler Truck, PACCAR, Volvo, though full autonomy likely years away.

reuters.com

Relevant topic timeline:

8/21/2023

Arm IPO to put SoftBank's AI hard sell to the test

8/21/2023

What ARM's expected debut means for the IPO market and SoftBank

9/5/2023

SoftBank's Arm aims for over $52 bln valuation in biggest US IPO of the year

SoftBank Group's chip designer Arm is seeking a valuation of more than $52 billion in its initial public offering, targeting the largest U.S. stock market flotation of the year.

9/10/2023

SoftBank Bets $1B on New Self-Driving Truck Startup As Robotaxi Players Face Scrutiny

9/14/2023

SoftBank's Arm Holdings Goes Public in $54.5B IPO, Biggest US Listing Since 2021

SoftBank's chip designer Arm Holdings is set to debut on the Nasdaq with a valuation of $54.5 billion, marking a potential test for IPOs in the United States after a lengthy drought.

9/15/2023

SoftBank Plays it Safe with Modestly Priced Arm IPO After Recent Losses, Still attracts Big Tech Interest

9/16/2023

SoftBank Sets Sights on AI After Arm IPO, With Billions Eyed for OpenAI and Other Deals