Microsoft to invest in autonomous trucking startup Gatik -sources

FILE PHOTO: AV trucks are parked in a Gatik AI facility at AllianceTexas, a 27,000 acre business complex boasting some of the country?s largest freight operations, in Fort Worth, Texas, U.S., May 18, 2022. Picture taken May 18, 2022. REUTERS/Cooper Neill

(Reuters) - Microsoft Corp is in advanced talks to invest in Gatik, a California-based autonomous driving startup, as part of its cloud partnership with the company, two people familiar with the discussions told Reuters.

Microsoft plans to invest over $10 million in a financing round that values Gatik at more than $700 million, the sources added. As part of the deal, Gatik will use Microsoft's cloud and edge computing platform Azure in developing autonomous delivery technology for trucks.