Rivian Sees Surge in Institutional Investor Support Amid Partnership Frenzy

Institutional investors added over 70 million shares of Rivian Automotive Inc. (RIVN) in the second quarter of this year, a report by Electric Vehicles reveals.

Amazon and Uber are among the key holders of RIVN stock, with Amazon owning a position worth roughly $2.3 billion after purchasing an additional 158 million shares.

D.E. Shaw increased its Rivian holdings by 141% in the quarter, buying over 12 million shares, while BlackRock Inc. added to its position as well, increasing it by nearly 2.5 million shares.

Rivian has a partnership with Uber to develop and deploy autonomous robotaxis, which may be contributing to its growth in institutional ownership.