Microsoft will take an $800 million charge on its investment in the Cruise robotaxi business after General Motors announced it would no longer fund the initiative as part of a shift in its autonomous driving strategy.

Microsoft Corp. plans to take an $800 million charge after General Motors Co. said it was shutting down its autonomous taxi initiative.

Microsoft will take an $800 million impairment charge in its second quarter earnings report related to its investment in robotaxi startup Cruise after General Motors announced this week that it would halt the development of Cruise's autonomous vehicles.