Tuesday, May 7, 2024

"Nvidia Backs UK Self-Driving Startup Wayve in $1 Billion Round"

That's a big venture round.
Some very serious people are taking this autonomous driving stuff seriously.

From Bloomberg, May 6:

  • SoftBank leads funding for artificial intelligence company
  • Wayve is in talks with automakers to launch tech, CEO says 

US chipmaker Nvidia Corp. is investing in Wayve Technologies Ltd., joining a $1.05 billion funding round for the UK startup that wants to get its autonomous-driving technology into cars.

The raise — one of the largest ever for a European artificial intelligence company — was led by SoftBank Group Corp., with existing investor Microsoft Corp. putting in further funds. The valuation was not disclosed.

The cash injection underscores the continued investor demand for AI, and is a boost for the self-driving car industry, which has suffered setbacks in recent years in its efforts to convince regulators driverless cars are safe.

Wayve wants carmakers and other fleet operators to install its technology into their vehicles, rather than own or operate the cars itself. The company received interest from several car companies about investing, but decided not to close off its options in future by partnering with a single manufacturer, Chief Executive Officer Alex Kendall said in an interview at Wayve’s headquarters in London....


Earlier today:
"Tesla Faces Strong Self-Driving Rivals in China" (TSLA)