Ford to Invest $1 Billion in Artificial Intelligence Start-Up - NYTimes.com

One of the oldest automakers in the United States is making a billion-dollar bet that one day, owning a car may not be a necessity of American life. Ford Motor announced on Friday its plans to invest $1 billion over the next five years in Argo AI, an artificial intelligence start-up formed in December that is focused on developing autonomous vehicle technology. The move is Ford's biggest effort to move into self-driving car research. Argo AI will develop the technology exclusively for Ford at first, and then plans to license its technology to others. The investment is also a way for Ford, which is more than century old, to tap into Silicon Valley talent and make headway in a competitive space.