tech
Chip giants AMD, Qualcomm and Arm back driverless car startup Wayve with fresh funds
Wayve now has major semiconductor names, including Nvidia, as shareholders as it looks to sell its technology to automakers who may be using different chips.
TL;DR
- Wayve secured $60 million in funding from Qualcomm, AMD, and Arm.
- These investments add major semiconductor firms to Wayve's list of backers, which includes Nvidia.
- Wayve's technology allows cars to be autonomous without high-definition maps, differentiating it from competitors.
- The investment is strategic, enabling Wayve to work closely with companies whose chips are used by automakers.
- Wayve is testing its driverless cars in the UK, Germany, Japan, and the US.
- The company has a commercial deal with Nissan to integrate its AI into driver-assistance systems and is collaborating on robotaxis.
- Wayve faces competition from established players like Waymo and emerging Chinese companies.