Wayve Seeks $2B Investment

Wayve, a London-based autonomous driving company, is reportedly in discussions with SoftBank and Microsoft to secure $2 billion in funding. The company is seeking an $8 billion valuation amidst growing investor interest in AI start-ups. Wayve specialises in 'embodied AI' for self-driving vehicles, developing AI models that allow vehicles to perceive, understand, and navigate environments.

Founded in 2017, Wayve has been testing its technology on UK public roads since 2018 and has partnerships with delivery fleets. The new funding is expected to support the development and launch of Wayve's embodied AI products for production vehicles, enabling automakers to upgrade cars to higher levels of automation. Wayve's technology is designed to be hardware-agnostic, offering a 'GPT for driving' that can be integrated into various vehicle types.

Wayve recently secured $1.05 billion in Series C funding led by SoftBank, with contributions from Nvidia and Microsoft. This investment aims to advance Wayve's mission to redefine driving through AI, addressing challenges in scaling autonomous technology and integrating it into everyday life.