Technology

Amazon reveals 20% stake in Rivian ahead of EV maker’s IPO

Amazon reveals 20% stake in Rivian ahead of EV maker’s IPO

Amazon disclosed Friday that it owns a 20% stake in Rivian, the electric automaker that filed for an IPO earlier this month. As of September 30, the e-commerce giant held equity investments, including preferred stock of Rivian that represented about 20% ownership interest, according to the filing. That holding had a “carrying value” of $3.8 billion, up from $2.7 billion as of December 31, 2020.

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