Toyota to Buy ¥1 Billion Stake in Artificial Intelligence Firm

ENLARGE A Toyota assembly line in Ohira village, Japan, in 2013. Photo: Toru YAMANAKA/Agence France Presse/Getty Images By Takashi Mochizuki Takashi Mochizuki The Wall Street Journal CANCEL Biography @mochi_wsj mochi.wsj Google+ Dec. 17, 2015 2:43 a.m. ET 0 COMMENTS TOKYO— Toyota Motor Corp. TM 3.68 % 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. 30. “This will strengthen our partnership as our collaboration has begun to show various results,” said Kenichi…

Link to Full Article: Toyota to Buy ¥1 Billion Stake in Artificial Intelligence Firm

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