Toyota to Buy Stake in Artificial Intelligence Firm – Wall Street Journal

Posted: Thursday, December 17, 2015

TOKYO—Toyota Motor Corp. said Thursday it plans to acquire a small stake in Tokyo-based machine-learning venture Preferred Networks Inc., the latest sign that Toyota is accelerating its development of self-driving cars.

The world’s largest auto maker by the number of cars sold said it would take a 3% stake in Preferred Networks for ¥1 billion ($8.2 million), valuing the company at ¥33.3 billion. The deal is expected to close by Dec….

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