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Six months after gutting its Cruise robotaxi business, GM is reportedly back in on autonomous vehicles

GM’s rocky relationship with autonomous vehicles is back on, according to reporting by Bloomberg.

The automaker, which shuttered its robotaxi business, Cruise, in February, is said to be courting former employees to return to the company to develop self-driving cars for personal use.

In March, GM announced a partnership with Nvidia to “build smarter vehicles” and collaborate on “advanced driver-assistance systems.”

Development costs were the primary reason GM left Cruise stranded earlier in the year, though the company also faced intense scrutiny and several executive firings following an incident in October 2023 when an autonomous vehicle seriously injured a pedestrian in San Francisco. When the company pulled the plug on Cruise, the move was expected to save it $1 billion a year.

In March, GM announced a partnership with Nvidia to “build smarter vehicles” and collaborate on “advanced driver-assistance systems.”

Development costs were the primary reason GM left Cruise stranded earlier in the year, though the company also faced intense scrutiny and several executive firings following an incident in October 2023 when an autonomous vehicle seriously injured a pedestrian in San Francisco. When the company pulled the plug on Cruise, the move was expected to save it $1 billion a year.

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“Madden” maker EA surges on report it’s nearing $50 billion deal to go private

Shares of video game giant Electronic Arts are surging up more than 15% Friday following a Wall Street Journal report that the company is nearing a roughly $50 billion deal to go private.

According to the WSJ, an investment group including Saudi Arabias Public Investment Fund and PE firm Silver Lake (which is also part of the TikTok deal) could announce a deal next week.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

In its fiscal first quarter that ended in June, EA delivered a disappointing net bookings outlook for the fiscal year.

Shares of EAs most intimidating competitor, Grand Theft Auto publisher Take-Two Interactive, climbed nearly 5% on the report.

$12.5B 🛍️

Uber’s relying less on pad thai from 0.8 miles away. The company expects gross bookings (what customers spend) of non-restaurant deliveries to grow to $12.5 billion by the end of the year, according to reporting by Bloomberg.

The new forecast marks a 25% boost from the $10 billion estimate Uber shared in May for the delivery of groceries and items from retail partners like Best Buy.

Through the first half of the year, Ubers total delivery gross bookings climbed to more than $42 billion, up about 18% year over year. That nearly matches the gross bookings of its ride-hailing business in the same period.

NikeSKIMS

Nike, trying to break out of its funk, launches its high-stakes collab with Kim Kardashian’s Skims

The partnership champions women athletes and tests how far Kim K’s star power can stretch in the women’s activewear arena.

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