Amazon-backed Rivian could seek $70B valuation in IPO: Report

Amazon-backed EV startup Rivian could target a valuation of about $70 billion in its potential IPO later this year, Bloomberg reported. It is working with advisers including Goldman Sachs, JPMorgan Chase and Morgan Stanley on an initial public offering. Rivian was reportedly worth $27.6 billion when it announced in January that it had raised $2.65 billion.