Argo.ai, driverless startup backed by Ford and VW, is shutting down

Argo AI, the self-driving startup backed by Ford and Volkswagen, is shutting down, The Verge has learned. Employees were notified that an announcement would be made late in the day Wednesday. The company, which was founded by veterans of Google and Uber's self-driving car projects, has lost the financial support of Ford and VW, a source said. And according to TechCrunch, the company's resources will be absorbed by both automakers. Argo is estimated to have around 2,000 employees, though it did announce a round of layoffs earlier this year.