Embark Trucks Inc. is merging with a special-purpose acquisition company to go public in a deal that values the self-driving truck startup at about $5.2 billion, the companies said. Founded in 2016, Embark says it is the oldest U.S. self-driving truck software firm and aims to partner with shippers to bring down carrier costs and make roads safer. The company has partnerships with a number of transportation companies and brands, including beer seller Anheuser-Busch InBev SA, technology firm HP Inc. and Knight-Swift Transportation Holdings Inc., the largest truckload carrier in North America. Embark currently has a small developmental fleet running some routes out of Southern California. The company hopes to fully commercialize its technology and to license it so that carriers can operate a large number of their trucks using Embark's software without needing any human drivers in the years ahead.

SoftBank Group Corp. has secured pledges from Microsoft Corp. and other investors of around $108 billion for a second Vision Fund aimed at investing in technology firms. The Japanese conglomerate itself plans to invest $38 billion in the fund, it said in a statement. Others set to join include Apple Inc. and Taiwan's Hon Hai Precision Industry Co. (Foxconn) -- both investors in the first fund. Notable for their absence on the list of state and corporate backers were the sovereign wealth funds of the two countries that formed the cornerstone of its first fund: Saudi Arabia and Abu Dhabi, as well as investment bank Goldman Sachs. SoftBank said it is still talking to potential investors and that it expects the fund's anticipated capital to grow.

Kearns is a computer science professor at the University of Pennsylvania and has years of experience at Steve Cohen's former hedge fund and other Wall Street firms. He will lead Morgan Stanley's AI research and offer advice on deploying the technology for projects across the company, the New York-based firm said in a memo to employees Tuesday. Chief Executive Officer James Gorman has made new technologies a top priority at Morgan Stanley, an early mover in electronic stock trading. The bank is spending about $4 billion in an initiative that spans trading -- particularly in fixed income -- wealth management and other units. "Michael uniquely combines a distinguished career in academia and research with professional experience in the application of AI to complex business problems in financial services," the company said in the memo.

Hisashi Taniguchi took a sabbatical from developing software for driverless taxis and drones to pilgrimage to a Buddhist temple in western Japan. He shaved his head, donned black robes and studied to become the shrine's leader. He passed the test, yet within a week was back at the Tokyo offices of ZMP Inc., overseeing his robotics company in a more-typical wardrobe of jeans and red Converse sneakers. As ZMP's founder and chief executive officer, he tries to sync millennia-old teachings with efforts to make artificial intelligence part of everyday life. "The temple teaches you that if you shine, you'll shed light on those around you," Taniguchi, 52, said.