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.

General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker's decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030.