Nvidia to Invest $500M in Self-Driving Tech Startup Wayve

Nvidia's £2 Billion UK Investment and Wayve's Potential

Nvidia CEO Jensen Huang recently visited the United Kingdom, announcing a substantial £2 billion (approximately $2.6 billion) investment. This commitment aims to bolster the nation’s burgeoning AI startup ecosystem.

Wayve, a U.K.-based company specializing in self-driving technology, is positioned to potentially benefit from Nvidia’s investment pledge, as reported to TechCrunch.

Wayve and Nvidia's Strategic Alignment

A letter of intent has been signed between Wayve and Nvidia, outlining a potential $500 million strategic investment in Wayve’s forthcoming funding round. Nvidia previously participated in Wayve’s $1.05 billion Series C funding, which concluded in May 2024.

Confirmation regarding the $500 million commitment being part of Nvidia’s broader AI investment initiative was provided by a Wayve spokesperson.

The £2 billion commitment from Nvidia will incorporate funding from venture capital firms including Accel, Air Street Capital, Balderton, Hoxton Ventures, and Phoenix Court, as stated during an event on Thursday.

An Nvidia representative declined to provide further commentary on the announcement of the letter of intent.

Future Funding and Technological Approach

Alex Kendall, co-founder and CEO of Wayve, indicated to TechCrunch that a definitive closing date for the Series D funding round is not yet available. However, he affirmed the company is “progressing rapidly” towards this goal.

Founded in 2017, Wayve has attracted both attention and investment due to its innovative automated driving system. This system employs a self-learning methodology, contrasting with traditional rules-based approaches to self-driving software.

Wayve’s end-to-end neural network operates without the necessity of high-definition maps, relying solely on data to instruct the vehicle’s driving behavior. This data-driven learning supports both “eyes on” assisted driving and a fully “eyes off” automated driving system.

The company intends to market its “Embodied AI” solutions to automotive manufacturers and other technology companies.

Advantages of Wayve's Self-Learning System

Wayve’s self-learning approach mirrors the strategy utilized by Tesla, proving particularly attractive to automakers. It doesn’t depend on specific sensors or detailed maps.

This adaptability allows Wayve’s system to function effectively with existing vehicle sensors, such as cameras and radar. The automated driving software gathers data from these sensors, directly influencing the system’s driving decisions.

While the software is compatible with chips already present in OEM partner vehicles, Wayve has maintained a close collaborative relationship with Nvidia since 2018.

Generational Advancements and Nvidia's Support

Wayve’s second-generation self-driving platform, currently integrated into its Ford Mach E test vehicles, utilizes Nvidia GPUs. This week, the company introduced its third generation platform, leveraging the Nvidia Drive AGX Thor in-vehicle compute autonomous vehicle development kit.

The gen 3 platform will enable Wayve to deliver eyes-off advanced driver-assistance systems and Level 4 driverless capabilities, suitable for both city streets and highways.

Jensen Huang and Nvidia appear strongly committed to Wayve’s future trajectory.

Huang's Vision for Wayve

“The next trillion-dollar company, you guys,” Huang remarked in a video documenting his initial experience in a Wayve-equipped vehicle on London’s public roads. The video, previewed by TechCrunch and scheduled for release, depicts Huang presenting Kendall with Nvidia’s Thor developer kit.

“We collected him from his hotel and took a drive around Central London, navigating some very busy areas, including Hyde Park Corner – a significant roundabout,” Kendall shared in a Friday interview.

“I thoroughly enjoyed the experience, and it was rewarding to demonstrate the progress we’ve made, built upon Nvidia’s platform over the years.”