Nvidia plans to invest $500 million in Wayve to boost autonomous technology
Nvidia has set its sights on Wayve, a British startup dedicated to autonomous driving technology, with the aim of making a strategic investment of $500 million. This decision is part of CEO Jensen Huang's commitment to strengthen the artificial intelligence (AI) startup ecosystem in the UK, where he announced a total investment of £2 billion (approximately $2.6 billion). The information was provided to TechCrunch by representatives from Nvidia.
Investment Strategy in Wayve
Wayve has confirmed that it has signed a letter of intent with Nvidia to explore this significant investment in the company's upcoming funding round. It is worth mentioning that Nvidia previously participated in Wayve's Series C funding round, which raised a total of $1.05 billion and closed in May 2024. A spokesperson for Wayve confirmed that the $500 million commitment is part of Nvidia's AI startup investment initiative.
During an event held on Thursday, Nvidia detailed that its £2 billion commitment would include resources from venture capital investors such as Accel, Air Street Capital, Balderton, Hoxton Ventures, and Phoenix Court. However, a spokesperson for Nvidia refrained from commenting on the announcement of the letter of intent.
Innovations in Autonomous Driving Technology
Founded in 2017, Wayve has captured the industry’s attention with its automated driving system, which takes a self-learning approach rather than a rule-based one for its autonomous driving software. Its end-to-end neural network does not require high-definition maps but instead uses data to teach vehicles how to drive. This data-driven approach applies to both assisted driving ("eyes on") and fully automated driving ("eyes off").
Wayve plans to commercialize its "embedded AI" technology to car manufacturers and other tech companies. Its self-learning method, similar to the strategy used by Tesla, is attractive to automakers since it does not rely on specific sensors or maps. This means that Wayve's system can operate with existing sensors like cameras and radar. Its automated driving software collects data from these sensors, which directly informs the system’s driving decisions.
Additionally, while Wayve's software can operate on the chips that its OEM partners already have in their vehicles, the startup has maintained a close development relationship with Nvidia since 2018.
Wayve's New Platforms
The second generation of Wayve's autonomous driving platform, integrated into its Ford Mach E test vehicles, utilizes Nvidia GPUs. This week, Wayve unveiled its third-generation platform, which uses the Nvidia Drive AGX Thor autonomous vehicle development kit. This new generation will allow Wayve to offer advanced "eyes off" driver assistance systems and level 4 driverless driving features, designed to operate in both urban streets and highways.
Jensen Huang has shown great interest in Wayve's future. In a video depicting his first ride in a vehicle equipped with Wayve technology through the streets of London, Huang described the company as "the next trillion-dollar company." In the video, which was reviewed by TechCrunch and will be released soon, Huang is seen handing Alex Kendall, co-founder and CEO of Wayve, the Nvidia Thor development kit.
Driving Experience in London
Alex Kendall shared his experience taking Huang from his hotel for a tour around central London, including the bustling Hyde Park Corner. "I loved that experience, and it was great to show him what we have always been building thanks to the Nvidia platform over the years," Kendall commented in an interview conducted on Friday.
In conclusion, Nvidia's $500 million investment in Wayve not only underscores Nvidia's commitment to the evolution of autonomous driving technology but also highlights the potential of startups like Wayve to transform the automotive industry in the near future.
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