Shares of Rivian surged 40% as Volkswagen agreed to invest $1 billion immediately, with a potential total of up to $5 billion in a software development deal. Rivian has seen its market value rise but is in need of funding for development and is currently losing money. Volkswagen, in need of software expertise, sees Rivian as a strong partner. The investment will be split between an initial $1 billion and potentially up to an additional $4 billion. The partnership aims to bring Rivian's software and electrical architecture to a wider market, reducing costs and increasing scale for both companies. The joint venture plans to launch vehicles using the technology by the second half of the decade. This groundbreaking agreement is seen as a game-changer for Rivian, providing a robust capital roadmap for future growth, integration of software platforms, cost savings, and improved vehicle offerings.