GM President Dan Ammann (a former Morgan Stanley investment banker), will take over Cruise, the carmaker’s self-driving vehicle startup… (also see my recent post on Qualcomm Ventures and its Cruise early stage investment). Current CEO and co-founder Kyle Vogt (33) will become CTO.
A couple of AI related notes: 1. GM bought Cruise two years ago for $1b, as a 40-person startup. Two years later Cruise is valued at $15b and has 1,000 staff. 2. GM is shifting to AI and AV, with plans to launch a commercial Chevy Bolt robot-taxi service next year. Qualcomm along with other heavy hitters have invested in Cruise of late, a growing interest in all things AI across industries.