As of Q1'26, Rivian (RIVN) holds $4.83B in cash and short-term investments, marking a significant decline from the prior quarter's $6.08B, while total debt stands at $5.02B, up slightly from $4.99B in Q4'25. This results in a net cash position of -$190M, indicating a narrowing liquidity buffer amid ongoing operational pressures. Over the period from Q2'23 to Q1'26, cash reserves have trended downward from a peak of $10.2B to $4.83B, reflecting consistent depletion likely due to high capital expenditures in EV production and scaling. Debt levels, starting at $3.35B, rose sharply to $6.3B by Q2'24 before stabilizing around $5B, suggesting a strategy of moderated borrowing to manage leverage while cash burn persists, with net cash turning negative since Q3'24.