TuSimple’s pivot from self-driving to AI animation has been rebranded CreateAI

TuSimple has completed its transition from autonomous trucking to AI animation and gaming with a rebrand. The company will henceforth be known as CreateAI.

The rebranding TuSimple comes as is got into an argument over plans to move the company’s remaining US assets to China to fund the new business it announced in August.

TuSimple shut down its US self-driving truck operations in January 2024 and delisted, three years after raising $1.35 billion in an IPO. The company originally planned to restart operations in China, but TuSimple parted ways with most of its autonomous driving staff earlier this year. Shortly after, he began working for AI animation and gaming-related roles.

Shareholders objected to the business direction and accused TuSimple’s other co-founder, chief producer and director Mo Chen of arbitrariness.

Chen owns or has ties to several other animation and gaming companies. Chen’s other businesses appear to be participating in TuSimple/CreateAI’s new venture. Recently givingThe board approved a $25 million deal with two game development companies linked to Chen to develop and distribute the role-playing video game Heroes of Jin Yong in November, TuSimple said. To reduce potential conflicts of interest, in May 2024, Chen transferred his ownership stake in those companies to a trust he did not control, although the beneficiaries of the trust were his family members, according to the filing.

CreateAI does not have an active AV development program. But in September, TuSimple CEO Cheng Lu told TechCrunch that the company still intends to license its self-driving technology to partners in China. CreateAI’s business plan, published Wednesday, also refers to a plan to monetize existing autonomous driving IP.

Some shareholders, notably co-founder and former CEO Xiaodi Hou, want to prevent the company from moving the remaining $450 million in cash to China in September.

Hou earlier this week urged shareholders to help him oust the board of directors and replace them with a board that would liquidate the company and return all available cash to shareholders.

CreateAI’s plan for this capital is becoming clearer. In addition to the rebrand, CreateAI announced the debut of its first major “image-to-video” AI model, “Ruyi,” which is open-sourced in Hugging Face. In a statement, the company said it developed Ruyi in less than six months, partly using “technological know-how based on the company’s autonomous driving experience.” CreateAI says its model also lays the foundation for dedicated AI tools and infrastructure for video game and anime content development.

“We are confident that our integrated approach at the intersection of generative artificial intelligence and digital entertainment creation is a differentiator that provides long-term growth opportunities,” said Lu.

CreateAI, which worked with Japanese anime designer Shoji Kawamori to bring The Father of Macross to life through animation and video game, also had its presentation. long-term business strategy generative AI for animation and gaming.