Dec. 19, 2024
TuSimple Rebrands as CreateAI, Shifts Focus from Autonomous Trucks to AI Gaming Technology
TMTPOST -- TuSimple Holdings announced on Thursday that it will rebrand as CreateAI and pivot from autonomous trucking to AI-driven gaming technology, signaling an attempt to revive the company after a series of setbacks. According to Reuters, CEO Cheng Lu explained that the shift towards gaming and animation technology reflects a natural evolution of the company's capabilities, despite the challenges the company has faced over the past two years, including regulatory hurdles. Founded in 2015, TuSimple initially attracted significant investments from major players like Chinese internet giant Sina Corp, Nvidia, Volkswagen, and UPS. However, the self-driving truck developer's fortunes took a turn in 2022 when U.S. regulators began investigating its Chinese connections, leading to boardroom conflicts. Earlier this year, TuSimple decided to delist from Nasdaq, just under three years after raising $1.35 billion in its April 2021 initial public offering. Lu revealed that in March, management proposed the AI gaming pivot to the board, which subsequently approved the move. A business plan document shared with Reuters highlighted the global gaming market's estimated value of $200 billion in 2023, further underscoring the strategic shift.
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