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Rivian Is Now Biggest U.S. Company With No Sales

  • EV startups are top two among biggest zero-revenue stocks
  • Latest entrant Rivian overtakes Daimler’s valuation in 3 days
A Rivian R1T electric pickup truck during the company's IPO outside the Nasdaq MarketSite in New York, on Nov. 10. 

A Rivian R1T electric pickup truck during the company's IPO outside the Nasdaq MarketSite in New York, on Nov. 10. 

Photographer: Bing Guan/Bloomberg
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Add another milestone to Rivian Automotive Inc.’s blistering and surprising run as a new stock: It’s now the biggest U.S. company by market value with no revenue. 

The electric-truck maker, backed by Amazon.com Inc. and Ford Motor Co., has unseated Lucid Group Inc., an electric vehicle peer with no sales to its name, at the top of the list.