Amazon Accounted For Over 50% Of Rivian's Q1 2026 Revenue: Jim Chanos Says 'Yikes'

Amazon.com Inc. made up implicit 50% of Rivian Automotive Inc.‘s gross successful the archetypal 4th of 2026, according to net information shared connected Thursday.

Very Proud Of Our Relationship, Says RJ Scaringe

During the net call, Rivian CEO RJ Scaringe was asked to remark connected involvement from non-Amazon customers for Rivian’s commercialized vehicles. “Our narration with Amazon continues to beryllium thing that we are precise arrogant of,” Scaringe said, sharing that vans would proceed to ramp up with the e-commerce company.

“In presumption of different customers and applications, Amazon is by a important grade the largest operator,” Scaringe said, but besides mentioned that the institution had identified “lots of different opportunities” for its vehicles. However, Rivian’s absorption close present remains connected Amazon and “ramping to enactment them,” the CEO said.

Don't Miss:

• A azygous atrocious prosecute tin acceptable a startup backmost years. Here are the 5 hires founders astir often misjudge — and why

• Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast

Jim Chanos Weighs In

Following the earnings, short-seller James Chanos took to the societal media level X to stock his views connected Rivian’s first-quarter 2026 report, sharing that Amazon’s orders comprised $468 cardinal of Rivian’s full $908 cardinal automotive revenue. “So they are lone selling 5-6,000 vehicles per 4th successful the unfastened market? Yikes,” Chanos said.

Wait, truthful $AMZN was $468M (52%) of $RIVN's $908M successful Automotive Revenue successful the 1Q…?! So they are lone selling 5-6,000 vehicles per 4th successful the unfastened market? Yikes.

— James Chanos (@RealJimChanos) April 30, 2026

Rivian Earnings

Rivian posted affirmative net for the quarter, reporting a gross of $1.381 billion, which bushed the marketplace statement of $1.363 cardinal and illustrated an 11% year-on-year leap for the automaker. Rivian’s bundle and services gross besides jumped 49% YoY to $473 million.

Trending: Avoid the #1 Investing Mistake: How Your ‘Safe' Holdings Could Be Costing You Big Time

The institution reported an EPS nonaccomplishment of 33 cents per share, beating a Street statement estimation of a nonaccomplishment of 71 cents per share. It produced 10,236 vehicles and plans to standard up its Georgia works capableness by 50%, allowing it to nutrient 300,000 units per year.

Rivian’s R2 Play

The R2 could beryllium to beryllium a important merchandise for the automaker arsenic it targets expanding volumes successful the U.S. EV sector, presently dominated by Tesla Inc.. While the EV manufacture arsenic a full has seen a diminution successful demand, the Model Y continues to pb income charts.

On the different hand, Rivian is vying to instrumentality a portion retired of Tesla’s Pie with the R2, targeting a 20,000-25,000 yearly income fig for the crossover SYV.