Walmart is investing in self-driving startup Cruise as part of a massive $2.75 billion investment round in the company—an expansion of the $2 billion round announced in January. That original announcement featured three other big names: GM, Honda, and Microsoft.
Cruise was originally an independent startup but was acquired by GM in 2016. GM has poured billions into the company and has increasingly sought additional financial support from outside investors.
Recently, Cruise has been signaling that it is just a couple of years away from launching its technology commercially. Earlier this week, Cruise announced that it would launch a self-driving taxi service in Dubai in 2023. Cruise CEO Dan Ammann then told Bloomberg that he expected to launch a commercial service in San Francisco prior to launching in Dubai.