Applied Intuition to buy autonomous trucking SPAC Embark for $71M

Embark Trucks, the autonomous trucking company that recently cut 70% of its workforce, is being acquired by Applied Intuition, a simulation and software provider for autonomous vehicle development. The all-cash transaction has an equity value of about $71 million, according to the companies.

https://techcrunch.com/2023/05/25/applied-intuition-to-buy-autonomous-trucking-spac-embark-for-71m/