May Mobility’s SPAC and the $93 Million Question

This week on Autonomy Signals presented by KPMG, Grayson Brulte and Rob Grant discuss May Mobility filing to go public through a SPAC merger with an estimated $93 million annual cash burn, Mercedes-Benz adding Wayve as its third automated driving software partner, and Figure AI’s Helix 2.5 taking on household chores across 30 homes it had never seen before.

May Mobility is merging with ACP Holdings Acquisition Corp at a $1.4 billion valuation and will trade under the ticker MAY upon completion of the transaction. Of the up to $337 million in proceeds, only the $120 million PIPE is committed.

At the company’s current burn rate, the PIPE covers about 1.3 years of operations against roughly $10 million in 2025 revenue. The remaining $217 million depends on the redemption rate.

Mercedes-Benz signed with Wayve for point-to-point Level 2 driving assistance within two years. Wayve joins NVIDIA and Momenta as Mercedes retreats from L3 Drive Pilot and focuses on L2 driving assistance partnerships.

Figure AI’s Helix 2.5 raised zero-shot success from 9% to 56% by pre-training on human behavior data, using half the task-specific data. That still leaves a 44% failure rate in curated homes, with no independent replication and no commercial contracts. The result supports a learning strategy, not a dependable, unsupervised home humanoid.

Episode Chapters

• 0:00 KPMG Sponsor Introduction
• 01:45 Signal 1: May Mobility’s SPAC
• 27:52 Signal 2: Mercedes Partners Wayve on Autonomous Driving
• 47:07 Signal 3: Figure AI Introduces Helix 2.5

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