Nvidia is exploring a $500 million investment in UK self-driving startup Wayve

Cosmico - Nvidia is exploring a $500 million investment in UK self-driving startup Wayve
Credit: Wayve Technologies Ltd/Nvidia, Inc.

Nvidia CEO Jensen Huang touched down in the United Kingdom this week with a bold promise: a £2 billion ($2.6 billion) investment to accelerate the nation’s artificial intelligence startup ecosystem. One of the potential beneficiaries is Wayve, the U.K.-based autonomous driving company making waves with its self-learning approach to AI.

Wayve confirmed it has signed a letter of intent with Nvidia to explore a $500 million strategic investment in its upcoming funding round. The move would build on Nvidia’s participation in Wayve’s $1.05 billion Series C round, which closed in May 2024. While Nvidia declined to comment on the prospective deal, a Wayve spokesperson told TechCrunch that the commitment is tied directly to the chipmaker’s newly announced AI startup investment pledge.

Nvidia’s UK Push

The £2 billion initiative, unveiled Thursday, is expected to funnel funds through both Nvidia and its network of venture capital partners, including Accel, Air Street Capital, Balderton, Hoxton Ventures, and Phoenix Court. The pledge underscores Nvidia’s strategy to cement its influence across the European AI landscape — and the U.K. in particular, which is emerging as a hotbed for AI innovation.

Jensen Huang himself appears particularly enthusiastic about Wayve’s trajectory. In a video set to be released soon, Huang can be seen test-driving a Wayve-equipped vehicle through the congested streets of central London. At the end of the ride, he hands Wayve co-founder and CEO Alex Kendall Nvidia’s Thor developer kit, remarking: “The next trillion-dollar company, you guys.”

Wayve’s Self-Learning Approach

Founded in 2017, Wayve has gained significant attention for its end-to-end neural network technology, which teaches vehicles how to drive using raw data instead of pre-programmed rules or high-definition maps. This self-learning AI allows the company’s system to adapt to real-world conditions using only data collected from cameras and radar sensors already available in most vehicles.

The system supports both “eyes-on” assisted driving and “eyes-off” fully automated modes. Wayve plans to commercialize its “Embodied AI” by licensing the technology to automakers and other tech companies, sidestepping the heavy costs of building vehicles itself.

Deep Ties With Nvidia

Wayve’s partnership with Nvidia stretches back to 2018. Its second-generation self-driving platform, tested in Ford Mach E vehicles, already relies on Nvidia GPUs. This week, Wayve unveiled its third-generation platform, built on Nvidia’s Drive AGX Thor in-vehicle computing kit. The upgrade is designed to enable advanced driver-assistance systems as well as Level 4 autonomy for urban and highway driving.

Kendall described Huang’s London ride as a milestone moment: “We picked him up from his hotel and went for a drive around Central London through some really busy streets, including Hyde Park corner. I really loved that experience, and it was cool to show him what we’ve always been building on as a result of Nvidia’s platform over the years.”

Looking Ahead

While Kendall declined to provide a timeline for Wayve’s Series D fundraising, he noted that the company is “working quickly towards it.” Should the Nvidia investment materialize, it would mark one of the largest commitments yet to a European AI mobility startup.

For Nvidia, the deal represents more than just funding. It highlights the company’s growing role not only as the hardware backbone of AI but also as a strategic architect in shaping the future of autonomous driving.

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