Microsoft Invests in Self-Driving Cars

Microsoft has just made a major investment of $2 billion in the self-driving vehicle company – Cruise.

Cruise was bought by General Motors back in 2016 for more than $1 billion. At the time, it only had 40 employees. Now, nearly 5 years later, Cruise has grown to have almost 2000 employees and, according to the Financial Times, “accounts for more than 40 percent of GM’s $71.5bn market capitalisation.”

Software giant Microsoft has now invested $2 billion, raising Cruise’s subsequent valuation to $30 billion. The aim is to speed up the process of commercializing self-driving vehicles.

“Our mission to provide safer, better and more accessible transportation for all is not just a career in technology, it is also a career in confidence,” said Cruise CEO Dan Ammann.

According to a statement, the companies will work together by combining their expertise to create a safer, cleaner, and more accessible world for everyone. Both Cruise and General Motors will be using Microsoft’s cloud computing platform Azure, “to help them scale and make autonomous transportation mainstream”.

Mary Barra, Chairman and CEO of GM commented “Microsoft will help us accelerate the commercialization of Cruise’s fully electric and self-driving vehicles, and will help GM realize even more benefits from cloud computing for the launch of 30 new electric vehicles globally by 2025; as well as in the creation of new businesses and services to boost our growth ”.