Microsoft teams up with Cruise on self-driving cars, chips in for $2 billion investment
Microsoft is joining forces with Cruise, the self-driving subsidiary of General Motors, to help speed up the commercialization of autonomous vehicles. The software giant is also chipping in on a new equity investment of $2 billion for Cruise, along with previous investors Honda and GM, bringing the AV company’s valuation up to a whopping $30 billion.
Microsoft and Cruise are entering “a long-term strategic relationship” — though the partnership won’t be exclusive. It is Microsoft’s first partnership with an autonomous vehicle company. As part of the deal, Cruise will use Azure, Microsoft’s cloud computing platform, to help speed up the process of making money off its fleet of autonomous vehicles. For its part, Microsoft will leverage…