Microsoft Plans $10M Investment In Autonomous Driving Startup Gatik: Report - Microsoft (NASDAQ:MSFT)

Microsoft Corp MSFT is planning to invest in Gatik, a California-based autonomous driving startup.
The technology giant is in advanced talks to make over $10 million investment in a financing round, Reuters reported.
The financing round values Gatik at more than $700 million.
Gatik, as part of the deal, will make use of Microsoft’s cloud and edge computing platform Azure to develop autonomous delivery technology for trucks.
The startup was founded in 2017 by Gautam Narang and Arjun Narang.
Gatik targets to provide middle-mile, business-to-business logistics for the retail industry.
In January 2021, Microsoft invested in General Motors Company GM owned robotaxi developer Cruise.
Also Read: Microsoft Nears Workers' Union Debut In US
Price Action: MSFT shares are trading lower by 2.67% at $233.18 in premarket on the last check Wednesday.
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