Us stocks knock on the blackboard:
Microsoft Corp finally made a move, investing 2 billion US dollars in GM Cruise to enter the autopilot track.
General Motors Co's share price has soared recently, and investors finally see it as a next-generation car company that can create value through electric cars and self-driving cars.GM's self-driving company, Cruise, had previously entered the first echelon of Navigant Research self-driving rankings in 2020.
Source: Navigant Research
Tuesday morningMicrosoft Corp announced a $2 billion investment in Cruise, General Motors Co's self-driving car company.General Motors Co bought Cruise in 2016 for an unknown amount. In the past few years, Cruise has received investments from Honda and Softbank Corp.. Softbank Corp. values Cruise at about $19 billion. Cruise's latest valuation is as high as $30 billion.
Our mission is to bring safer, better and more affordable means of transportation for all. This is not only a technology competition, but also a trust competition. Microsoft Corp is the gold standard in the democratization of reliable technology. Microsoft Corp will contribute to our commercialization of self-driving, all-electric and shared cars.
-Cruise CEO Dan Ammann
Us Stock Intelligence Agent | Eric