Rivian shares rose more than 9% in morning trading.
Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc in the quarter ended Dec. 31, securities filings showed Friday.
The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc, is expected to provide the e-commerce company with more than 100,000 electric trucks.
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