Cruise Stock
Self-driving car company
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About cruise stock.
Cruise is building the world’s most advanced self-driving vehicles to safely connect people with the places, things, and experiences they care about. Cruise autonomous vehicles are on the road in San Francisco navigating some of the most challenging and unpredictable driving environments, because the best way to bring self-driving technology to the world is to expose it to the same unique and complex traffic scenarios human drivers face every day.
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Chief executive officer, chief technology officer & president, chief product officer, chief financial officer.
Geoff Richardson
Chief Marketing Officer & Ride-Hailing General Manager
Lucas Watson
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People who bet on early AV market leaders could be handsomely rewarded. It's generally considered a can't-miss, long-term investment.
Autonomous vehicle, or AV, technology is generally considered a can't-miss, long-term investment. Several companies have already launched fully AV services for the public in a handful of cities in the U.S. and around the world, and those services are growing and expanding rapidly. Investors who bet on early AV market leaders could be handsomely rewarded. However, the AV industry is wide open, and the technology is still a long way from perfection. Bank of America has listed AV technology as a key theme in the tech space.
Here are some of the firm's top AV technology stocks to buy in 2023:
Alphabet Inc. ( GOOG , GOOGL )
Alphabet is the parent company of Google and YouTube and is a global leader in online advertising. Alphabet subsidiary Waymo already offers fully driverless rides in San Francisco and Phoenix, and plans to add service in Los Angeles. Bank of America analyst Justin Post says Alphabet is highly exposed to several high-growth tech trends, including internet search, cloud computing and artificial intelligence . Post says growth in mobile device usage, video streaming and connected automobiles and other devices will be long-term tailwinds. Bank of America has a "buy" rating and $125 price target for GOOGL stock, which closed at $104.64 on April 12.
Nvidia Corp. ( NVDA )
Nvidia is a semiconductor company that develops graphics cards and mobile processors used in personal computers, wireless devices and workstations. Nvidia also offers hardware, software and sensor packages for AVs via its DRIVE platform. The company is a diversified play on AV technology, and analyst Vivek Arya says its unique pipeline of AI technology also contributes to its massive total addressable market. Bank of America has a "buy" rating and $310 price target for NVDA stock, which closed at $264.95 on April 12.
Qualcomm Inc. ( QCOM )
Qualcomm is a semiconductor company that develops products based on its advanced wireless broadband technology. Auto companies have adopted Qualcomm's Snapdragon Ride platforms to produce safe and scalable advanced driver-assistance systems and AV solutions. First-generation Snapdragon Ride systems are already being used in commercial vehicles around the world. The semiconductor industry has been volatile in recent quarters, but analyst Tal Liani says market expectations for Qualcomm have likely bottomed, setting the stock up to outperform in coming months. Bank of America has a "buy" rating and $150 price target for QCOM stock, which closed at $120.27 on April 12.
Advanced Micro Devices Inc. ( AMD )
Shares of microprocessor and graphics semiconductor stock Advanced Micro Devices are up more than 800% in the past five years, making it one of the best-performing large-cap tech stocks in the market. The AMD Automotive platform helps power advanced autonomous systems that require extremely high-speed data aggregation, pre-processing and distribution. In November 2022, Japanese automotive component company Aisin Corp. (ASEKF) selected the AMD Xilinx Automotive Zynq UltraScale+ MPSoC platform to power its automated parking-assist system. Arya says AMD is also a top stock pick in AI and cloud services technology. Bank of America has a "buy" rating and $98 price target for AMD stock, which closed at $92.33 on April 12.
Uber Technologies Inc. ( UBER )
Uber operates a leading ride-sharing and delivery services platform. In December 2022, Uber and partner Motional launched a self-driving taxi service in Las Vegas with plans to expand to Los Angeles in the future. In the long term, Uber may rely more heavily on AV technology to help reduce its reliance on its large, expensive fleet of independently contracted drivers – a move that can reduce regulatory risks and labor costs. Post says Uber is a growth leader among large-cap tech stocks. Bank of America has a "buy" rating and $44 price target for UBER stock, which closed at $30.59 on April 12.
Baidu Inc. ( BIDU )
Baidu is the leading Chinese internet search provider. The company also has several other businesses, such as its majority stake in streaming-video platform iQiyi Inc. ( IQ ) and its AI and cloud businesses. Baidu currently operates autonomous ride-hailing services in Beijing, Wuhan and Chongqing, and it has accumulated more than 31 million miles of autonomous testing data at Level 4 – meaning the car can operate without driver input but requires a preloaded map to function. Analyst Eddie Leung says Baidu has several large growth drivers, including AI cloud services, chatbots, AV technology and smart devices. Bank of America has a "buy" rating and $234 price target for BIDU stock, which closed at $136.40 on April 12.
General Motors Co. ( GM )
General Motors is the largest U.S. manufacturer of cars and trucks by total sales. GM subsidiary Cruise is already offering AV services to the public in San Francisco, Austin and Phoenix. In March, the company announced it has accumulated more than 1 million driverless miles on public roads since it first began testing its AVs in San Francisco in November 2021. Analyst John Murphy says GM is a leader in the transition to the electric and autonomous future of the auto industry. Bank of America has a "buy" rating and $70 price target for GM stock, which closed at $34.62 on April 12.
7 Best Small-Cap Tech Stocks to Buy
Tags: money , investing , autonomous vehicles , artificial intelligence , Google , Nvidia Corp. , Qualcomm , Advanced Micro Devices , Uber , Baidu , General Motors , technology
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General Motors Company
Us37045v1008, auto & truck manufacturers, general motors company (nyse:gm) completed the acquisition of cruise automation, inc. from signia venture partners, spark capital partners, llc, felicis ventures, homebrew management llc and others for approximately $580 million., latest news about general motors company, chart general motors company.
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GM CEO Mary Barra expects operating profitability from electric vehicles in 2024
January 30, 2024 at 12:48 pm EST
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- General Motors Company (NYSE: GM) completed the acquisition of Cruise Automation, Inc. from Signia Venture Partners, Spark Capital Partners, LLC, Felicis Ventures, Homebrew Management LLC and others for approximately $580 million.
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Our latest study, published in collaboration with UMTRI, VTTI and GM introduces a benchmark that allows us to better measure the safety performance of autonomous vehicles vs human ridehail drivers.
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Accessibility benefits everyone. We’re committed to solving the transportation challenges with the most meaningful impact – breaking down systemic barriers to transportation and shaping a future where more people have access to safe, reliable rides.
As of October 26, 2023 - driverless operations are paused in all markets. Please read our latest blog post and follow us on X (formerly Twitter) for the latest updates.
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GM's Cruise suspends its employee equity program
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Self-drive automaker Cruise, backed by General Motors Co, on Thursday said it raised $2.75 billion in its latest funding round with additional investment from Walmart Inc and others, taking the ...
TechCrunch - Mar, 11 2019. GM Cruise snags Dropbox HR head to hire 1,000 engineers by the end of the year. EquityZen helps investors to access private companies and their employees to sell shares. EquityZen is a marketplace for shares of proven pre IPO tech companies.
Autonomous driving is improving rapidly, but the leaders may not be who you think. Cruise, the company majority owned by General Motors ( GM 0.74%), is now operating commercial vehicles in three ...
DETROIT — Today, General Motors Co. (NYSE: GM) announced it is acquiring SoftBank Vision Fund 1's equity ownership stake in Cruise for $2.1 billion and separately will make an additional $1.35 billion investment in Cruise, replacing a previous commitment made by the fund in 2018.Since GM acquired a majority ownership stake in 2016, Cruise has made self-driving cars a reality and is a ...
General Motors looks to have put the final kibosh on any dreams of greater autonomy Cruise may have once had. Late on Friday, GM said it had bought SoftBank out of the robotaxi developer ...
GM's Cruise strategy. It's clear now that GM is extremely bullish on Cruise's future, despite the fact that the company will likely need billions of dollars to get its service to a sustainable ...
October 4, 2021 · 5 min read. (Bloomberg) -- General Motors Co.'s Cruise LLC autonomous vehicle unit will tell investors this week that it sees a path for its ride-hailing business to reach $50 ...
Funding, Valuation & Revenue. Cruise has raised $11.919B over 16 rounds. Cruise's latest funding round was a Corporate Minority - VII for on August 25, 2022. Cruise's valuation in March 2022 was $19,090.91 - $30,000M. Cruise's latest post-money valuation is from August 2022. Sign up for a free demo to see Cruise's valuations in August 2022 and ...
On top of that, Cruise has to purchase thousands of Origins from GM at, at least, $50K each. Assuming $125K revenue/year/vehicle, thus 8,000 vehicles needed to reach $1B, capital investment would ...
Cruise IPO. Cruise was founded in 2013 by Daniel Kan and Kyle Vogt. Cruise has not officially endorsed a plan to participate in an IPO. Cruise is an automated vehicle software company. Per Forge data, Cruise raised $15.1 billion in funding over 13 rounds. Their latest funding was raised on Mar 18, 2022. Key investors include Spark Capital ...
Fortunately, we have figured out how to do that at Cruise. Today, I am pleased to unveil our new program: the Recurring Liquidity Opportunity (RLO). Here's how it works: Employees, both current and former, can sell any amount of their vested equity at each offering, which we plan to do once per quarter. Equity is purchased by General Motors ...
Cruise is a hidden asset with significant potential when it is spun off. ... GM originally acquired Cruise Automation for more than $1 billion in May 2016. ... listing a separate tracking stock to ...
Lindblad Expeditions is a smaller cruise stock, with a $558 million market cap that has rewarded shareholders with a 35.6% year-to-date return as of July 17. The company reported $143.4 million in ...
A San Francisco-based startup founded in 2013, Cruise was purchased by GM in 2016, reportedly (though never confirmed) for about $500 million. The company, which employed about 40 at the time of ...
7 Best Small-Cap Tech Stocks to Buy. View All 9 Slides. Updated on April 13, 2023: This story was published at an earlier date and has been updated with new information. Tags: money, investing ...
Company profile page for Cruise LLC including stock price, company news, executives, board members, and contact information
General Motors Company (NYSE:GM) agreed to acquire Cruise Automation, Inc. from Signia Venture Partners, Spark Capital Partners, LLC, Felicis Ventures, Homebrew Management LLC and others on March 11, 2016. Cruise will operate as an independent unit within GM's recently formed Autonomous Vehicle Development Team led by Doug Parks.
Cruise is owned by General Motors Company (NYSE:GM). Cruise is an autonomous car maker, and it aims to start commercialization of its products through robotaxi services. In April, autonomous car maker Cruise LLC was valued at more than US$ 30 billion after it reportedly raised US$ 2.75 billion in a funding round in which it received an ...
Transportation for all. Accessibility benefits everyone. We're committed to solving the transportation challenges with the most meaningful impact - breaking down systemic barriers to transportation and shaping a future where more people have access to safe, reliable rides. As of October 26, 2023 - driverless operations are paused in all ...
GM acquired Cruise Automation for a reported $1 billion just over two years ago. A $2.25 billion investment in Cruise by SoftBank for a near-20% stake left Cruise valued at more than $11 billion ...
Cruise, the robo-taxi unit of General Motors , on Thursday suspended the program under which GM buys back employees' shares, following an accident that led to the pause of its self-driving vehicle ...
Cruise Operating Metrics. Header placeholder lorem ipsum dolor sit amet, consectetur adipiscing elit. Button CTA. Cruise key operating metrics including Self-Driving Cars On Roads, and technology stack. Self-Driving Cars On Roads. 180. 260.0%. Feb, 2020. Miles per Disengagement . 2.8K. 339.0%. Nov, 2017. Autonomous Miles Driven.
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