General Motors and Microsoft are leading a US$2-billion investment round in self-driving car startup Cruise in a deal that will bring the software giant’s cloud and edge-computing capabilities to the venture.

The additional funds will raise Cruise’s post-investment valuation to an estimated US$30 billion. Cruise partner Honda and other institutional investors are also participating in the new round.

The partnership with Microsoft gives Cruise, which is majority-owned by GM, a major software player in its corner. That will help the company compete with Waymo, which has access to the software capabilities of parent Alphabet Inc.

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