Microsoft Invests $2 Billion in Cruise to Push Autonomous Rides
Cruise secures a massive $2 billion funding round led by Microsoft, pairing new capital with a strategic cloud partnership to scale its self-driving ride-hailing ambitions.
Autonomous vehicle company Cruise raises $2 billion in a new funding round at a $30 billion valuation, with Microsoft joining as a new investor alongside previous backers GM and Honda. This massive financial boost accompanies a long-term strategic partnership where Cruise relies on Microsoft’s Azure cloud platform for its upcoming self-driving ride-hailing service. Microsoft also becomes the preferred cloud provider for GM, highlighting a major push by the tech giant into the automotive space.
Other major tech stories dominate the day as Netflix shares soar after the streaming giant surpasses 200 million paying subscribers by adding 8.5 million net new users in the fourth quarter. Meanwhile, WhatsApp faces increasing global pushback as India's IT ministry asks the company to withdraw its new privacy policy over "grave concerns" regarding citizen data autonomy.
The startup world sees significant movement as electric truck maker Rivian raises $2.65 billion to push toward production, reaching a $27.6 billion valuation. London-based payments startup PPRO nabs $180 million at a $1 billion-plus valuation to streamline localized e-commerce transactions, and Google backs Indian delivery startup Dunzo with a $40 million funding round as part of its broader $10 billion investment strategy in the country.