PlusAI Targets Year-End Close on $800M SPAC Merger, Eyes 2026 HyperFoundry Revenue of $40M-$50M

PlusAI expects to close its merger with Texas Ventures Acquisition III Corp. by the end of 2026, co-founder and CEO David Liu told FreightWaves. The September 3 deal values the autonomous trucking developer at an $800 million pre-money equity value and could bring PlusAI up to about $300 million, combining more than $60 million in committed financing with a SPAC trust of roughly $236 million. The committed funds alone satisfy the deal's minimum cash condition and are expected to fund the company through 2027. PlusAI's HyperFoundry development platform has generated $25 million in revenue this year and is targeting $40 million to $50 million in contracted revenue for 2026. The company plans to list on Nasdaq under the PlusAI name, following the April termination of its merger with Churchill Capital Corp IX. TRATON Group selected PlusAI to build autonomy into its trucks. PlusAI runs daily commercial pilot runs in Texas with International and Ryder, and plans commercial driverless truck launches in 2027.