On December 11th local time, Microsoft disclosed in a filing with the US Securities and Exchange Commission (SEC) that General Motors announced plans to readjust its autonomous driving strategy on December 10th, no longer funding Cruise's autonomous taxi development work, and seeking to acquire shares from a few investors. Therefore, Microsoft expects to record approximately $800 million in impairment charges in the second quarter of fiscal year 2025. This expense will be included in other income and expenses. It is estimated that this will have a negative impact of approximately $0.09 on diluted earnings per share in the second quarter. Microsoft announced a minority stake investment in Cruise, a self driving subsidiary of General Motors, in January 2021.