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GM Up 9% After Deal With Microsoft Revealed

2021-01-19 6 Dailymotion

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

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