On Friday, October 18, 2025, Austin Russell, the former CEO of Luminar Technologies, filed an SEC disclosure announcing that his newly formed company, Russell AI Labs, intends to acquire 100 % of Luminar’s outstanding Class A common stock for an undisclosed price. The filing, made early Friday morning, formally documents Russell’s bid to take control of the LiDAR maker after he was replaced as CEO in May.
Russell AI Labs was founded in September by Russell, Markus Schäfer—CTO and board member of Mercedes‑Benz Group—and Murtaza Ahmed, a former SoftBank Vision Fund partner. The new entity claims to back and build transformative AI and frontier technology companies, having already invested $300 million in the agentic AI firm Emergence. The acquisition plan would merge Luminar with a larger global automotive technology company to create a unified platform business dubbed “Luminar 2.0.”
The bid was reportedly suggested on October 14 by certain Luminar shareholders and board members, and it follows Russell’s earlier 2023 attempt to acquire Forbes. The filing also notes an alleged connection to a Russian oligarch and highlights Russell’s continued presence on Luminar’s board, where he has not signed any SEC filings since his replacement. These details underscore the governance and strategic implications of the proposed takeover.
The announcement of a full‑company acquisition bid is a material event that could alter Luminar’s ownership structure, governance, and strategic direction. Investors will closely monitor whether the bid proceeds, as it may trigger a change in leadership, potential restructuring, and a reassessment of the company’s long‑term value proposition.
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