The chief executive of autonomous vehicle developer Aurora Innovation presented a swath of cost-cutting and cash-generating options to its board, ranging from a hiring freeze and spinning out assets to a small capital raise, going private and even selling itself to high-profile tech companies Apple and Microsoft.
The ideas, all aimed at shoring up its cash position and extending its runway in tough market conditions, were laid out in an internal memo first reported by Bloomberg and also viewed by TechCrunch. The internal memo, which was intended for the board ahead of its August 3 meeting, was mistakenly sent to all Aurora employees, which today numbers around 1,600 people.
Following the Bloomberg report, Aurora shares jumped as much as 27%. Shares closed up 15.17% to $2.43.
Aurora has a “cash runway” that will allow it to continue operations through …
