Microsoft has invested in Cruise, the General Motors driverless car unit, in a $2bn funding round that gives the autonomous driving company a $30bn valuation.
Cruise, which was bought by GM for “more than $1bn” in 2016, when it had just 40 employees, now has almost 2,000 staff and accounts for more than 40 per cent of GM’s $71.5bn market capitalisation.
Its latest investment round puts it head-to-head with Waymo, the Google sister company, as the world’s most valuable autonomous driving start-up. Waymo raised $3.2bn last year at an undisclosed valuation that two people said to the FT was “more than $30bn”.
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