PlusAI and Churchill Capital Corp. IX announced Tuesday the termination of their previously announced SPAC-backed business combination. According to a PlusAI announcement, the termination of the merger between the autonomous truck technology maker and the SPAC was due to market conditions.
In the announcement, PlusAI was optimistic, noting that it continues to show significant commercial momentum and is positioned for long-term growth. Existing PlusAI investors continue to support the company’s growth and commercialization plans, the announcement added.
“Our business has significant momentum. With strong expected revenue in 2026 and continued growth on the horizon in 2027, we are executing on our strategy and delivering real value to our customers. SuperDrive™ is proving itself in commercial operations today and HyperFoundry is picking up momentum. The trajectory ahead gives us tremendous confidence in where PlusAI is headed. The support from our existing investors on our next capital raise is a direct reflection of their conviction in our business fundamentals and our technology,” said David Liu, CEO and co-founder of PlusAI.
The move comes as the company recently unveiled major updates to its SuperDrive 6.0 autonomous trucking platform in March. PlusAI operates an autonomous trucking trial in Texas with International and Ryder.
PlusAI’s partner ecosystem spans global manufacturing OEMs including TRATON GROUP’s Scania, MAN and International brands, Hyundai Motor Co. and Iveco Group, alongside technology and logistics partners NVIDIA, Bosch, DSV and Goodyear.
Existing investors — including Sequoia Capital China, FountainVest Partners, ClearVue Partners, Amazon, Mayfield and others — continue to back the company’s growth plans.
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