TuSimple has raised $648 million in venture funding and had a post-money valuation of $8.49 billion at its IPO in 2021. However, the company has faced significant challenges, including a stock price drop from $62.58 to under $1, and is now trading over the counter at around $0.19 per share.
Organizations Involved
Nvidia, Goodyear, UPS
Founders
Mo Chen, Xiaodi Hou
Company Description
TuSimple is a company that was initially focused on developing self-driving trucks but is now pivoting to AI-generated animation and video games. The company is attempting to move its assets to China to fund this new business segment, which has raised concerns among shareholders regarding potential misappropriation of funds.