Deals
Walmart Invests in Cruise, the GM-Backed Autonomous-Car Startup
- Deal brings Cruise’s latest funding round to $2.75 billion
- Walmart joins fellow Cruise investors Microsoft and Honda
This article is for subscribers only.
Walmart Inc. is getting into the self-driving car business.
The world’s largest retailer is taking an undisclosed stake in Cruise LLC, the autonomous-vehicle technology company that’s majority-owned by General Motors Co. The Walmart investment brings the size of Cruise’s latest funding round to $2.75 billion, the two companies said in a statement Thursday, up from the $2 billion Cruise announced in January when Microsoft Corp. became an investor.