Microsoft Corp. is investing in General Motors Co. 's driverless-car startup Cruise as part of a strategic tie-up, another sign of renewed interest in the autonomous-technology space after a relatively quiet period. Microsoft is among a group of companies that will invest more than $2 billion in San Francisco-based Cruise, which has been majority-owned by GM since early 2016. The financing brings Cruise's valuation to $30 billion, Cruise said Tuesday, up from an estimated $19 billion in spring 2019. GM is adding to its Cruise investment as part of the funding round and will retain a majority stake, a Cruise spokesman said. The investment also includes current stakeholder Honda Motor Co. and other institutional investors that Cruise declined to name.
Jan-19-2021, 15:15:00 GMT