UK Startup 'Wayve' Gets $1 Billion Funding For Self-Driving Car Tech

Wayve, a UK-based AI firm focused on developing self-driving car technology, has secured a record $1.05 billion in funding, with Microsoft and Nvidia participating in the round led by SoftBank. According to the BBC, this investment is the largest for an AI company in Europe. The BBC reports: Wayve says the funding will allow it to help build the autonomous cars of the future. [...] Wayve is developing technology intended to power future self-driving vehicles by using what it calls "embodied AI." Unlike AI models carrying out cognitive or generative tasks such as answering questions or creating pictures, this new technology interacts with and learns from real-world surroundings and environments. "[The investment] sends a crucial signal to the market of the strength of the UK's AI ecosystem, and we look forward to watching more AI companies here thrive and scale," said Wayve head Alex Kendall.

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