Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The trucks were previously noticed by a Reddit user, who photographed and shared images this week showing tractors emblazoned with the Embark logo and trailers painted with the Amazon Prime logo.
Embark integrates its self-driving systems into Peterbilt semis, rather than building its own vehicles completely from scratch. Generally, Embark trucks operate on roads with test drivers on board.
Embark and other firms working on autonomous systems — including fellow start-ups such as Ike, Thor Trucks and Pronto.ai, and major players such as Alphabet's Waymo and Tesla — aim to alleviate industry pains by making existing truck drivers safer and more efficient.
A driver shortage currently plagues the trucking industry, owing in part to the low pay and difficult schedules and conditions of the job. A lack of available drivers and trucks poses a challenge to e-commerce companies, obviously including Amazon, whose customers expect deliveries in a relatively short time.
CNBC asked both companies for further details about how they work together, but both declined to comment specifically on the deal.
Embark CEO Alex Rodrigues said, "Embark moves freight for a number of major companies on the I-10, however we cannot discuss any company specifically as our relationships are confidential."
An Amazon spokesperson said, "We are always innovating and working with innovative companies to improve the customer experience and safety of our team. We think successful over-the-road autonomy will create safer roadways and a better work environment for drivers on long-haul runs. "
Expect to see more autonomous trucks in circulation in the U.S. soon.
In October 2018, the National Highway Transportation Safety Administration issued its updated AV3.0 policy, which has helped autonomous vehicle firms such as Embark figure out how to test their technology before driving on public roads and which rules they need to comply with to stay there.
Founded in 2016, Embark has raised at least $47 million in venture funding from firms including Sequoia Capital, Data Collective, Y Combinator and AME Cloud Ventures.