General Motors gained as much as 8.9% to a record high on Tuesday.
The gain comes on news that its autonomous vehicle subsidiary, Cruise, is receiving a large investment from Microsoft.
Microsoft joins a number of companies in a $2 billion funding round for Cruise.
Tuesday's price is a record-high for GM since it emerged from bankruptcy at the end of the Great Recession.
The partnership will accelerate the commercialization of self-driving vehicles.