Microsoft records $800M charge due to GM's exit from the Cruise autonomous driving project.
Microsoft will record an $800 million impairment charge in its second quarter of fiscal year 2025 due to General Motors' decision to exit its Cruise autonomous driving project. This charge will reduce Microsoft's earnings by about 9 cents per share. GM cited intense competition and the need for more time and resources as reasons for its withdrawal, impacting both companies' investments in the self-driving technology.
3 months ago
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