Uber’s deal with Elon Musk’s electric carmaker, Tesla, could be among the most consequential deals in its recent history.
The deal, worth $16 billion, could mark the biggest acquisition in the tech industry since Apple bought Beats Electronics for $3.5 billion in 2010.
“I think there’s no doubt in my mind it’s going to be a game changer,” said Bill Gurley, a partner at Morgan Stanley.
The $16.5bn deal is the biggest deal to be completed in Tesla’s history, but it’s not the only one.
Tesla also sold a $2.5b stake to Chinese company Tsinghua University for $2 billion in 2012.
Tesla shares rose almost 2% on the news.
Tesla’s stock price has been steadily climbing since the deal was announced.