Nvidia Backs UK Self-Driving Startup Wayve in $1 Billion Round [BNN Bloomberg (Canada)]
Microsoft Corporation (MSFT)
Last microsoft corporation earnings: 4/29 04:06 pm
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Source: BNN Bloomberg
The raise – one of the largest ever for a European artificial intelligence company – was led by SoftBank Group Corp., with existing investor Microsoft Corp. putting in further funds. The valuation was not disclosed. The cash injection underscores the continued investor demand for AI, and is a boost for the self-driving car industry, which has suffered setbacks in recent years in its efforts to convince regulators driverless cars are safe. Wayve wants carmakers and other fleet operators to install its technology into their vehicles, rather than own or operate the cars themselves. The company received interest from several car companies about investing, but decided not to close off its options in future by partnering with a single manufacturer, Chief Executive Officer Alex Kendall said in an interview at Wayve's headquarters in London. Talks are continuing with automakers about rolling out the technology in their vehicles, he added. Read More: Microsoft-Backed Self-Driving Star
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