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. Embark went public in 2021 via a merger with a special purpose…
Autonomous trucking startup Embark SPAC’d with a multibillion-dollar price tag. It’s now a smoking crater We have to ask whose fault this all was. Who’s to blame for all the SPAC implosions? by Alex Wilhelm originally published on TechCrunch
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