Kodiak AI, Inc. (NASDAQ: KDK) shares are trending on Friday.
Check out the current price of KDK stock here.
Ares Acquisition Corporation II, which recently completed its merger and has been renamed Kodiak AI, Inc., saw its shares decline 5.66% to $7.50 during pre-market trading on Friday following completion of its business combination with autonomous vehicle company Kodiak Robotics, Inc.
The special purpose acquisition company (SPAC) began trading under the ticker symbols “KDK” and “KDKRW” on Thursday.
$2.5 Billion Valuation Transaction
The business merger, approved on Sept. 23, valued Kodiak Robotics at $2.5 billion, making it one of the largest de-SPAC deals of 2025.
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The combined entity raised $275 million, including $145 million in PIPE funding and $62.9 million in AACT trust cash.
AI-Driven Trucks
Kodiak’s AI-powered trucking system addresses driver shortages and rising costs. The company logged 3 million autonomous miles and 3,000+ paid driverless hours.
In 2025, Atlas Energy Solutions (NYSE: AESI) placed an initial order of 100 driverless semi-trucks with Kodiak
Market Opportunity
CEO Don Burnette noted the technology’s current deployment: “The Kodiak Driver is already on the road, safely delivering freight for paying customers.”
Kodiak AI’s SPAC merger, backed by prominent investors such as George Soros and Cathie Wood, aims to capture a share of the $4 trillion global freight market, which helped fuel a rally in after-hours trading following the funding announcement.
Post-SPAC Trading Volatility
According to Benzinga Pro data, the pre-market decline follows Thursday’s 9.14% drop to $7.95.The stock’s pre-market drop follows a 9.14% fall on Thursday, bringing it down to $7.95. KDK has lost 26.46% in value over the past year, and it currently has a market value of $587.05 million with an average daily volume of 525,540.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
