According to the report, the CEO of Aurora Innovation announced that it is considering a number of options to respond to deteriorating market conditions, including a potential sale to Apple or Microsoft.
Co-founder Chris Urmson, in a document erroneously distributed to employees and seen by Bloomberg, reported spending cuts through measures including going into private ownership, splitting or selling assets, and a small capital increase.
“Given our current share price, we should be an attractive target for any organization looking to own the future of autonomous driving, and there are quite a few companies that might be interested, such as Apple or Microsoft,” Urmson said. The company’s share closed yesterday, Friday, up 15.2% to $2.43 after it surged 32% on the news, but Aurora’s share is still down 79% this year.
Source: El Iktisad
