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Microsoft will take $800 million charge on Cruise investment

Microsoft Expects $800M Impairment Charge After GM Axes Cruise Robotaxis

Key Takeaways Microsoft said it expects to take an impairment charge of roughly $800 million after General Motors halted the development of Cruise autonomous vehicles.The tech giant and others like Honda and Walmart invested in the "robotaxi" startup over the last decade.

Barron's on MSN · 1d

Microsoft Is Losing This Much on GM’s Robotaxi Unit Cruise

Microsoft said on Wednesday it would take an $800 million charge to write down its investment in Cruise—GM’s troubled robotaxi unit. Cruise lost its license to drive in California in October 2023 after a Cruise robotaxi dragged a pedestrian.

MarketWatch · 1d

Here’s how big a hit Microsoft is taking on its investment in GM’s Cruise

Microsoft warned investors it will book an impairment charge in its fiscal second quarter related to its investment in GM’s Cruise robotaxi unit back in 2021.

1don MSN

Microsoft to take $800 million hit from this sudden U-turn by General Motors

Microsoft announced an $800 million impairment charge due to General Motors' termination of its Cruise autonomous vehicle ...

GM halts funding for Cruise robotaxi program

General Motors’ move Tuesday to halt funding for its Cruise robotaxi program makes way for Silicon Valley rivals to take a ...

GM Pulls the Plug on Cruise Robotaxi Business

GM acquired Cruise in 2016 for $1 billion, hoping to build a fleet of self-driving cars that could earn money driving people around cities. GM spent heavily to develop self-driving technology for ...

Axios1d

GM shutters Cruise robotaxi project

General Motors is shutting down its Cruise robotaxi project, citing intense competition for self-driving cars and the steep ...

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