Nvidia CEO Jensen Huang visited the United Kingdom this week, bringing with him a pledge to invest £2 billion ($2.6 billion) to support the country’s AI startup ecosystem. One of the potential recipients of this funding is Wayve, a UK-based self-driving technology startup. Wayve has announced that it has signed a letter of intent with Nvidia to evaluate a $500 million strategic investment in its next funding round, known as a Series D round. This tentative commitment is part of Nvidia’s broader investment pledge. Nvidia had previously participated in Wayve’s $1.05 billion Series C funding round that closed in May 2024.
Wayve co-founder and CEO Alex Kendall did not provide a specific closing date for the Series D round but said the company was “working quickly towards it.” The £2 billion commitment from Nvidia is also supported by venture-capital firms Accel, Air Street Capital, Balderton, Hoxton Ventures, and Phoenix Court.
Wayve’s End-to-End AI Approach
Founded in 2017, Wayve has gained attention for its automated driving system, which uses a self-learning approach rather than a rules-based one. Its end-to-end neural network does not require high-definition maps and uses data to teach a vehicle how to drive. This data-driven learning is applied to both “eyes on” assisted driving and an “eyes off” fully automated driving system. Wayve plans to sell its “Embodied AI” technology to automakers and other tech companies.
This self-learning approach is similar to the strategy used by Tesla and is particularly appealing to automakers because it is not reliant on specific, expensive sensors or high-definition maps. Wayve’s system can work with a vehicle’s existing sensors, such as cameras and radar, by capturing data from them to directly inform the system’s driving decisions.
A Close Development Relationship
Wayve has had a close development relationship with Nvidia since 2018. Wayve’s Generation 2 self-driving platform, which is integrated into its Ford Mach E test vehicles, uses Nvidia GPUs. The startup has also unveiled its Gen 3 platform, which will use the Nvidia Drive AGX Thor in-vehicle compute autonomous vehicle development kit. This Gen 3 platform will allow Wayve to offer eyes-off advanced driving-assistance systems and Level 4 driverless features that will work on city streets and highways.
Nvidia CEO Jensen Huang has shown great enthusiasm for Wayve’s future. In a video of his first ride in a Wayve-equipped vehicle in London, Huang said of the company, “The next trillion-dollar company, you guys.” He also handed Kendall an Nvidia Thor developer kit during the drive, which included navigating a very busy Hyde Park corner.
What The Author Thinks
This partnership and potential investment signify more than just a financial deal; it’s a strategic alliance that could set the standard for the next era of AI. Nvidia’s commitment to Wayve’s “Embodied AI” approach is a strong vote of confidence in a data-driven, self-learning model for autonomous driving. By supporting a company with a close developmental relationship, Nvidia is not only securing a future customer for its hardware but is also helping to validate a technology that could revolutionize the industry. This collaboration shows that a focused, “end-to-end” approach to AI, when combined with the right hardware, could be the key to solving the complex challenges of autonomous driving and securing a dominant position in a highly competitive market.
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