Ford invests $1 billion into AI startup

Ford on Friday announced it has acquired a majority stake in the artificial intelligence startup Argo AI for $1 billion. Founded by two senior engineers from Google and Uber–both of whom were previously at Carnegie Mellon’s robotics institute– the startup plans to use its expertise in AI to develop software for self-driving vehicles. As the largest investment a traditional auto manufacturer has made in self-driving technology, it would value Argo at over $1 billion. The founders of Argo AI, who previously worked at Carnegie Mellon’s robotics institute said that the company will remain in Pittsburgh and largely independent.