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Apple rescues Drive.ai from collapse and reignites auto interest

Once valued at $200m, Drive.ai had apparently filed all the paperwork to start mass lay-offs, before Apple acquired it last week. The self-driving shuttle-riding start-up, founded in 2015 by Stanford University researchers, had been seeking buyers, and Apple was rumored to be among one of the interested parties. But those rumors died down, three weeks passed, and it looked like this was the end for Drive.ai. Instead, Apple seems to have swooped in, and will likely have paid pennies on the dollar for the firm. Apple being Apple, there’s not been an update on whether Drive.ai is actually shutting up shop entirely. The paperwork for such closure has been submitted, which leads one to the conclusion that this is a textbook…

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