SAYING THIS IS HOW WE'RE GOING TO DIFFERENTIATE OUR OPERATING SYSTEM HAVING THE BEST APPS THAT RUN THE AI. >>> WE HAVE ANOTHER REPORT SURROUNDING THE PARTNERSHIP BETWEEN APPLE AND RIVIAN AND PHIL LeBEAU IS ON SET TO TALK ABOUT SOME OF THOSE DETAILS. >> THIS CAME OUT OF ASIA TALK ABOUT A POTENTIAL PARTNERSHIP. IMMEDIATELY STEVE KOVACH WITH APPLE AND ME WITH RIVIAN, WE STARTED RUNNING THIS UP THE TREE DIDN'T GET ANY TAKE AT ALL I DON'T PUT ANY CREDENCE TO THIS BUT IT DOES RAISE THE QUESTION, IS APPLE COMPLETELY DONE WHEN IT COMES TO THE AUTO COMPANIES? REMEMBER, THEY HAVE ESSENTIALLY SHUT DOWN PROJECT TITAN. THEY'RE NOT GOING TO PLAN ON BUILDING A CAR ADAM JONAS WITH MORGAN STANLEY BRINGS UP A GREAT POINT IN A NOTE HE PUT OUT TODAY AND ESSENTIALLY SAYS THIS, ALTHOUGH APPLE HAS CONFIRMED IT HAS NIXED ITS APPLE CAR PROJECT, PROJECT TITAN, IT DOES NOT MEAN THERE MAY NOT BE ANY NUMBER OF AREAS WHERE APPLE'S BROADER AI EFFORTS COULD ENCOMPASS THE AUTOMOTIVE VALUE CHAIN. IS IT POSSIBLE THAT SOMEBODY IN RIVIAN IN ASIA IS HAVING A CONVERSATION WITH SOMEBODY AT APPLE? YOU BET. I WOULD HOPE THEY'RE DOING THAT. THAT'S WHAT AUTO COMPANIES ARE DOING WITH TECH COMPANIES EVERY SINGLE DAY SO, THIS REPORT BY ITSELF, NO REASON FOR THE STOCKS TO MOVE HIGHER, THOUGH YOU CAN BET THAT WHEN RIVIAN REPORTS ITS RESULTS AFTER THE BELL AND DURING THE ANALYST CALL, R.J. WILL GET THIS QUESTION >> FOR RIVIAN'S CASE AS WELL, DIDN'T THEY HAVE THE FORD INVESTMENT THAT WENT SOUR. >> CORRECT. >> SO I CAN'T IMAGINE THEY'RE OVEREAGER TO GO PARTNER WITH ANOTHER MAJOR COMPANY. >> GUESS WHO OWNS A BIG CHUNK OF RIVIAN, AMAZON. >> OH, RIGHT. >> IT'S NOT LIKE THESE GUYS ARE OUT IN THE WILDERNESS OF ILLINOIS AND NOT INTERACTING WITH TECH COMPANIES. THEY ARE SO, IT'S JUST THAT THIS REPORT STARTED MOVING THE STOCKS BEFORE THE MARKET TODAY YOU'LL NOTICE THE STOCKS REALLY HAVEN'T DONE MUCH SINCE THEN BECAUSE IT HASN'T BEEN FLESHED OUT. THERE'S NO THERE THERE IF YOU WILL. >> SO THE IDEA OF THE TWO WORKING TOGETHER, QUOTE, ON A CAR, NO UPTAKE THERE BUT THE POSSIBILITY THAT RIVIAN MIGHT EMPLOY OR WORK WITH APPLE ON MAKING APPLE SOFTWARE A TECHNOLOGY -- >> THERE'S APPLE CAR PLAY OUT THERE. >> ABSOLUTELY. >> FOR SURE. >> ABSOLUTELY. OR OTHER PRODUCTS IN THE FUTURE. LOOK, AI OPENS UP NUMBER OF OPPORTUNITIES NOT JUST THROUGH RIVIAN BUT OTHER AUTOMAKERS AS WELL YOU CAN BET THAT APPLE, WHILE IT IS NOT DOING PROJECT TITAN, IT IS CERTAINLY STILL IN COMMUNICATION WITH AUTO COMPANIES. >> I'M CURIOUS ABOUT RIVIAN AS WELL AS WE TALKED ABOUT TESLA STRUGGLES LATELY, THERE'S NOT ENOUGH DEMAND TO MEET THE SUPPLY OF EVs WE THOUGHT THERE WOULD BE THIS TIME AND POINT. BUT RIVIAN STILL SURVIVED THE CHALLENGE OF HIGHER INTEREST RATES AND THE INITIAL PERIOD OF PLETHORA OF START-UPS. >> RIGHT. >> HOW DOES IT STAND NOW COMPETITIVELY SPEAKING >> IT'S NUMBER TWO IN THE U.S. IN TERMS OF PURE EV COMPANIES. THE QUESTION BECOMES, WILL THEY HAVE TO RAISE CAPITAL BETWEEN NOW AND WHEN THE NEXT PRODUCT, THE R2 COMES OUT, WHICH THEY'RE GOING TO BUILD IN ILLINOIS THAT'S NOT COMING OUT UNTIL WELL INTO '26, PROBABLY START PRODUCTION LATE '25, EARLY '26 THEN YOU START LOOKING AT, DO YOU HAVE THE CAPITAL NEEDED? THEY ALREADY SAID THEY'RE NOT GOING TO BUILD THE PLANT IN GEORGIA FOR NOW. EVENTUALLY THEY PLAN TO. THAT'S WHERE THE R2 WAS GOING TO BE BUILT CASH PRESERVATION AND GETTING THROUGH THIS PERIOD WHERE DEMAND IS NOT AS STRONG AS MANY PEOPLE THOUGHT IT WOULD BE. >> ALEX, WHAT DO YOU THINK ABOUT THE POSSIBILITY OF APPLE WORKING IN THE CAR BUSINESS IN SOME WAY IF NOT TO MANUFACTURE AN AUTOMOBILE >> YEAH. I THINK THAT THEIR PROJECT TITAN, THE SELF-DRIVING PROGRAM THEY HAD, IF IT WAS WORTH ANYTHING, IT WOULD HAVE BEEN SOLD ALREADY I THINK IT WAS WORTH SO LITTLE THEY JUST DECIDED TO SHUT IT DOWN AND CUT TIES WITH IT. NOW I CAN SEE RIVIAN SEEING THE IMPROVEMENTS THAT TESLA MADE AND GET ON THE PHONE WITH APPLE, THAT SELF DRIVING THING, IS THAT WORKING ANYMORE AND APPLE BEING LET'S HAVE A CONVERSATION ABOUT IT THAT TO ME IS AS FAR AS IT PROBABLY GOT I THINK THAT APPLE AND RIVIAN COULD COMBINE IN AN IMPRESSIVE PARTNERSHIP IF APPLE CAR PLAY'S MORE DEEPLY INTEGRATED INTO RIVIAN CARS. BY THE WAY, THERE'S BEEN ALL THE RUMORS ABOUT APPLE ONE DAY COULD HAVE HAD A CONVERSATION WITH ELON MUSK ACQUIRING TESL
