PlusAI and Churchill Capital Corp IX Terminate Business Combination

Key Terms

business combination regulatory

A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.

capital raise financial

A capital raise is when a company brings in new money from investors or lenders by selling shares, debt, or other securities to fund operations, growth projects, or to pay liabilities. It matters to investors because it changes the company’s financial picture—adding cash that can enable expansion or avoid trouble, but also potentially reducing each existing owner’s share or increasing the company’s debt load, similar to putting fuel in a car to keep it running while changing who shares the ride or who pays for repairs.

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PlusAI business has strong momentum with growing revenue and multiple operational milestones expected in 2026; ​​Existing investors support next capital raise

SANTA CLARA, Calif.--(BUSINESS WIRE)-- PlusAI and Churchill Capital Corp IX (Nasdaq: CCIX) today announced the termination of the previously announced business combination due to market conditions.

PlusAI continues to demonstrate significant commercial momentum and remains strongly positioned for long-term growth. Existing PlusAI investors support PlusAI’s continued growth and commercialization plans, reflecting their confidence in the company’s business strength and technology leadership.

“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.

About PlusAI

PlusAI is an artificial intelligence company pioneering AI-based virtual driver software for factory-built autonomous trucks. Headquartered in Silicon Valley with operations in the United States and Europe, PlusAI was named by Fast Company as one of the World’s Most Innovative Companies. Partners including TRATON GROUP’s Scania, MAN, and International brands, Hyundai Motor Company, Iveco Group, NVIDIA, Bosch, DSV, and Goodyear are working with PlusAI to accelerate the deployment of next-generation autonomous trucks. For more information, visit www.plus.ai or follow PlusAI on LinkedIn and YouTube.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “plan,” “project,” “will,” “estimate,” “intend,” “expect,” “believe,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions. These forward-looking statements are based on current expectations and projections about future events and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Such statements include projections regarding revenue, commercial deployments, investor funding, and the timing and terms of any future public offering. PlusAI assumes no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421921727/en/

Investors Contact
Derrick Nueman
ir@plus.ai

Media Contact
Lauren Kwan
pr@plus.ai

Source: PlusAI