TLDR: Plus Automation Inc. (Plus), a physical AI company specializing in virtual driver software for autonomous trucks, has announced a definitive business combination agreement with Churchill Capital Corp IX (SPAC). The merger, expected to close in Q4 2025, will see the combined entity operate as PlusAI and is anticipated to provide up to $300 million in gross proceeds to fund the company through the commercial launch of its SuperDrive-enabled autonomous trucks in 2027. The deal values Plus at a pre-money equity of $1.2 billion.
Plus Automation Inc. (‘Plus’), a leading physical AI company focused on developing virtual driver software for autonomous trucks, has announced its intention to go public through a definitive business combination agreement with Churchill Capital Corp IX (‘Churchill IX’), a special purpose acquisition company (SPAC). The transaction, which values Plus at a pre-money equity of $1.2 billion, is expected to provide up to $300 million in gross proceeds, earmarked to fund the company through the anticipated commercial launch of its autonomous trucks in 2027. Upon the closing of the merger, expected in the fourth quarter of 2025, the combined entity will operate under the name PlusAI.
Plus, also known as PlusAI, was founded in Silicon Valley in 2016 by technology entrepreneurs David Liu and Shawn Kerrigan. The company has distinguished itself by adopting an ‘Autonomous Vehicle 2.0 paradigm,’ which prioritizes AI models over traditional hand-coded software to achieve scalable and adaptive autonomy for physical applications. Its core product, SuperDrive, is an AI-based virtual driver software designed specifically for factory-built autonomous heavy commercial trucks.
Michael Klein, Chairman and CEO of Churchill IX, emphasized the significance of this move, stating, “Physical AI will be transformative across industries, and Churchill IX is excited to give public investors access to a leading company in the sector primed for AI-driven innovation.” He further highlighted the critical role of autonomous trucking in addressing the persistent driver shortage within the global economy’s backbone industry.
Plus’s SuperDrive system features a robust, three-layer redundancy architecture. The company has accumulated over five million miles of real-world driving data across the U.S., Europe, and Asia, which fuels its technology development. This proprietary dataset, combined with advanced generative AI models, has enabled Plus to build a generalizable ‘driving intelligence’ platform utilizing auto-labeling, model distillation, and highly optimized in-vehicle neural networks.
In April 2025, Plus achieved a significant milestone with a successful ‘driver-out’ safety validation for SuperDrive. The company is currently conducting public road testing in Texas and Sweden, with additional customer fleet trials scheduled for the fall of 2025.
The company’s go-to-market strategy is centered on deep integration with leading global commercial vehicle manufacturers, including TRATON GROUP (Scania, MAN, and International brands), Hyundai Motor Company, and Iveco Group. Strategic collaborations with industry players like DSV, Bosch, and Nvidia also support this model, aiming to accelerate the deployment of next-generation autonomous trucks. Plus plans to initially launch its SuperDrive-enabled trucks in the U.S. in 2027, with subsequent expansion into Europe. The company intends to offer its autonomous software through a “driver-as-a-service” model, providing trucking firms with a recurring per-mile revenue stream.
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David Liu, co-founder and CEO of Plus, expressed confidence in the merger, stating, “This transaction provides access to capital and strategic support that will help us advance our product roadmap, execute our development and commercialization strategy, and deliver a transformative logistics solution to one of the world’s largest and most essential industries.” He added, “Our long-term vision is to empower fleet operators to run global freight networks with autonomous vehicles that improve safety, enhance efficiency, and reduce costs. We believe the industry is at a critical inflection point, driven by breakthroughs in AI, supportive regulatory momentum, and ecosystem readiness.”
