Technology
Rad Power Bikes files for bankruptcy protection
Rad Power Bikes, the once dominant electric bicycle brand in the US, filed for Chapter 11 bankruptcy protection this week as it seeks to sell of its company. The move comes less than a month after Rad Power said it could not afford to recall its older e-bike batteries that had been designated a fire risk by the US Consumer Protection Safety Commission.
The bankruptcy, which was first reported by Bicycle Retailer, was filed in US Bankruptcy Court for the Eastern District of Washington, near the company’s headquarters in Seattle. Rad Power lists its estimated assets at $32.1 million and estimated liabilities at $72.8 million. Its inventory of e-bikes, spare parts, and accessories is listged at $14.2 million, Bicycle Retailer says.
It’s a stunning reversal for the once leading e-bike company in the US. Mike Radenbaugh founded the company in 2015 after several years of selling custom-made e-bikes to customers on the West Coast. Rad Power quickly grew to over 11 distinct models, including the fat-tire RadRover, the long-tail RadWagon, and the versatile RadRunner. Rad Power Bikes raised an approximate total of $329 million across several funding rounds, primarily in 2021, with major investments from firms like Fidelity, Morgan Stanley, and T. Rowe Price.
But in the wake of the post-covid bike boom, things started to go south. There were supply chain disruptions, safety recalls, several rounds of layoffs, and executive turnover. Last month, Rad Power said it was facing “significant financial challenges” that could lead to its imminent closure without a cash infusion.
The CPSC warning apparently was the nail in the coffin. The company’s older batteries could “unexpectedly ignite and explode,” the agency warned, citing 31 fires, including 12 reports of property damage totaling $734,500. There weren’t any injuries, but the company said it couldn’t afford a costly recall.
Rad Power could still live on if its able to find a buyer for its assets and brand. Dutch e-bike make VanMoof was able to find a buyer following its 2023 bankruptcy. And Belgium’s Cowboy is in talks to be acquired by a French holding company of several bike brands. Rad Power will continue to operate as it restructures its debts under court supervision, and in a statement to Bicycle Retailer said it will continue to sell bikes and work with customers and vendors as it moves forward with the process.
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The LG CLOiD robot and the LG OLED evo AI Wallpaper TV are displayed onstage during an LG Electronics news conference at CES 2026, an annual consumer electronics trade show, in Las Vegas, Jan. 5, 2026. (REUTERS/Steve Marcus)
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Welcome to Fox News’ Artificial Intelligence newsletter with the latest AI technology advancements.
IN TODAY’S NEWSLETTER:
– CES 2026 showstoppers: 10 gadgets you have to see
– Construction giant unveils AI to help prevent job site accidents: ‘It’s essentially a personal assistant’
– Fox News gets exclusive look at company helping businesses nationwide harness AI-powered robots to boost efficiency and fill labor gaps
CES 2026 put health tech front and center, with companies showcasing smarter ways to support prevention, mobility and long-term wellness. (CES)
FUTURE IS NOW: Every January, the Consumer Electronics Show, better known as CES, takes over Las Vegas. It’s where tech companies show off what they’re building next, from products that are almost ready to buy to ideas that feel pulled from the future.
SAFER SITES: Construction equipment giant Caterpillar has unveiled a new artificial intelligence (AI) tool designed to improve job site safety and boost efficiency as the industry grapples with labor shortages.
FUTURE OF WELLNESS: The Consumer Electronics Show, better known as CES, is the world’s largest consumer technology event, and it’s underway in Las Vegas. It takes over the city every January for four days and draws global attention from tech companies, startups, researchers, investors and journalists, of course.
FUTURE OF WORK: As artificial intelligence is rapidly evolving, Fox News got an exclusive look at a company helping businesses nationwide harness AI-powered robots to boost efficiency and fill labor gaps. RobotLAB, with 36 locations across the country and headquartered in Texas, houses more than 50 different types of robots, from cleaning and customer service bots to security bots.
The LG CLOiD robot and the LG OLED evo AI Wallpaper TV are displayed onstage during an LG Electronics news conference at CES 2026 in Las Vegas, Jan. 5, 2026. (REUTERS/Steve Marcus)
COMPUTE CRUNCH: The price tag for competing in the artificial intelligence race is rapidly climbing, fueling demand for advanced computing power and the high-end chips that are needed to support it. Advanced Micro Devices (AMD) CEO Lisa Su said demand for AI computing is accelerating as industries rush to expand their capabilities.
AI GONE WRONG: A California teenager used a chatbot over several months for drug-use guidance on ChatGPT, his mother said. Sam Nelson, 18, was preparing for college when he asked an AI chatbot how many grams of kratom, a plant-based painkiller commonly sold at smoke shops and gas stations across the country, he would need to get a strong high, his mother, Leila Turner-Scott, told SFGate, according to the New York Post.
DR CHAT: ‘The Big Money Show’ panelists weigh in on a report on people turning to ChatGPT for medical and healthcare questions.
‘FUNDAMENTALLY DEFLATIONARY’: OpenAI Board Chair Bret Taylor discusses artificial intelligence’s potential to change traditional work and its increasing use in healthcare on ‘Varney & Co.’
MIND TRAP ALERT: Artificial intelligence chatbots are quickly becoming part of our daily lives. Many of us turn to them for ideas, advice or conversation. For most, that interaction feels harmless. However, mental health experts now warn that for a small group of vulnerable people, long and emotionally charged conversations with AI may worsen delusions or psychotic symptoms.
A California teenager sought drug-use guidance from a ChatGPT chatbot over several months while preparing for college, his mother told SFGate, according to the New York Post. (Kurt “CyberGuy” Knutsson)
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These AI projects include Prometheus, the first of several supercluster computing systems, which is expected to come online in New Albany, Ohio, sometime this year. Meta is funding the construction of new nuclear reactors as part of the agreements, the first of which may come online “as early as 2030.” These announcements are part of Meta’s ongoing goal to support its future AI operations with nuclear energy, having previously signed a deal with Constellation to revive an aging nuclear power plant last year.
Financial information for the agreements hasn’t been released, but Meta says that it will “pay the full costs for energy used by our data centers so consumers don’t bear these expenses.”
“Our agreements with Vistra, TerraPower, Oklo, and Constellation make Meta one of the most significant corporate purchasers of nuclear energy in American history,” Meta’s chief global affairs officer, Joel Kaplan, said in the announcement. “State-of-the-art data centers and AI infrastructure are essential to securing America’s position as a global leader in AI.”
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