Nvidia is eyeing a massive $500 million investment in UK self-driving startup Wayve, marking one of the largest potential bets on autonomous vehicle AI technology. The deal comes as CEO Jensen Huang personally test-drove Wayve's system through Central London, calling the company "the next trillion-dollar company" in what could reshape the entire autonomous driving landscape.
Nvidia CEO Jensen Huang just took his boldest ride yet - cruising through Central London's chaotic streets in a self-driving car powered by UK startup Wayve. Now he's putting serious money where his mouth is. Wayve confirmed it's signed a letter of intent with the chip giant for a potential $500 million strategic investment, part of Nvidia's eye-popping £2 billion pledge to supercharge Britain's AI ecosystem. The move could cement one of the most significant bets on autonomous driving technology since Tesla's early days. "The next trillion-dollar company, you guys," Huang told Wayve co-founder Alex Kendall during the London test drive, according to TechCrunch sources who viewed unreleased footage of the ride. The video shows Huang personally handing over Nvidia's latest Thor developer kit - a symbolic passing of the torch that signals just how serious this partnership has become. This isn't Nvidia's first rodeo with Wayve. The chip maker already participated in the startup's massive $1.05 billion Series C round that closed in May 2024, but a $500 million follow-on would represent a dramatic escalation of their relationship. It also validates Wayve's controversial approach to self-driving technology. While companies like Google's Waymo rely on expensive LiDAR sensors and detailed HD maps, Wayve uses only cameras and radar - the same sensors already built into most cars. Their "embodied AI" system learns to drive purely from data, similar to how Tesla trains its Full Self-Driving software. "We picked him up from his hotel and went for a drive around Central London through some really busy streets, including Hyde Park corner," Kendall told TechCrunch Friday. That roundabout is notorious among London drivers - a swirling mess of buses, taxis, and tourists that would challenge even experienced human drivers. The fact that Wayve's system handled it smoothly enough to impress Nvidia's famously demanding CEO says everything about how far the technology has progressed. The timing couldn't be better for Wayve. This week, the company unveiled its third-generation platform built specifically for Nvidia's Drive AGX Thor chips. The new system promises both "eyes-off" highway driving and Level 4 full automation for city streets - capabilities that could finally make autonomous vehicles commercially viable beyond limited robotaxi deployments. What makes this deal particularly intriguing is broader UK investment strategy. The £2 billion commitment includes backing from venture heavyweights Accel, Balderton, and Air Street Capital, creating a war chest specifically designed to challenge dominance in AI. Wayve represents exactly the kind of "embodied AI" - AI that interacts with the physical world - that could define the next phase of the technology boom. The partnership also highlights how the autonomous driving race is increasingly becoming a software battle. While traditional automakers struggle with complex sensor fusion and mapping requirements, Wayve's approach promises to work with existing hardware across different vehicle models. That's particularly appealing to OEMs who don't want to redesign their entire electrical architecture around expensive new sensors. But this isn't just about cars. Wayve's end-to-end neural networks could potentially power delivery robots, warehouse automation, and other applications where AI needs to navigate unpredictable real-world environments. If Huang's prediction proves correct, we're looking at the birth of a company that could challenge $800 billion market cap. The Series D round doesn't have a closing date yet, but Kendall confirmed they're "working quickly towards it." Given current momentum - the company's data center revenue hit $30 billion last quarter - and growing competition from and other chip makers, speed could be critical. This deal also represents a geographic shift in AI power. While Silicon Valley continues to dominate generative AI through , , and others, London is emerging as the global center for embodied AI. , , and a host of robotics startups are proving that physical-world AI might just be Britain's secret weapon in the global technology race.
