GM Up 9% After Deal With Microsoft Revealed
- 3 years ago
General Motors gained as much as 8.9% to a record high on Tuesday.
The gain comes on news that its autonomous vehicle subsidiary, Cruise, is receiving a large investment from Microsoft.
Microsoft joins a number of companies in a $2 billion funding round for Cruise.
Tuesday's price is a record-high for GM since it emerged from bankruptcy at the end of the Great Recession.
The partnership will accelerate the commercialization of self-driving vehicles.
It brings together the two companies' software and hardware engineering expertise, cloud computing capabilities, and manufacturing knowledge.
The gain comes on news that its autonomous vehicle subsidiary, Cruise, is receiving a large investment from Microsoft.
Microsoft joins a number of companies in a $2 billion funding round for Cruise.
Tuesday's price is a record-high for GM since it emerged from bankruptcy at the end of the Great Recession.
The partnership will accelerate the commercialization of self-driving vehicles.
It brings together the two companies' software and hardware engineering expertise, cloud computing capabilities, and manufacturing knowledge.