What's the deal? Autonomous-truck developer Plus, known as PlusAI, is going public through a merger with Texas Ventures Acquisition III Corp., a deal that could deliver up to $300 million. The transaction, announced in September, values the company at roughly $800 million before the new investment. Where the money comes from: The $300 million includes more than $60 million in committed financing and about $236 million held in the Texas Ventures III trust. Yorkville Advisors is also backing the deal. The funds will support integration of PlusAI's autonomous-driving technology with truck manufacturers ahead of a targeted 2027 commercial launch. What's the endgame? Rather than retrofit existing trucks, PlusAI works with manufacturers to build its SuperDrive Level 4 system into vehicles at the factory. Its partners include Traton Group, Hyundai, and IVECO. The company already runs autonomous freight routes in Texas with Ryder and International, and plans a recurring-fee "Driver-as-a-Service" model. By the numbers: PlusAI also earns revenue from HyperFoundry, its platform for developing and testing autonomous-driving AI. The platform has generated $25 million to date, and the company targets $40 million to $50 million in contracted revenue in 2026. Why now? This is PlusAI's second run at the public markets. It agreed in June 2025 to merge with Churchill Capital Corp IX at a $1.2 billion valuation, but the companies scrapped that deal in April 2026, citing market conditions. The new transaction values PlusAI lower, at about $800 million. "HyperFoundry is generating revenue today while SuperDrive advances toward commercial launch in 2027," said co-founder and chief executive officer David Liu. The signal: At $300 million, PlusAI's raise lands in the top 10% of US transportation SPAC IPOs over the past four years. That scale, paired with a lower valuation than its abandoned 2025 deal, reflects both cooling appetite for autonomous-vehicle