London-based artificial intelligence company Wayve is in advanced talks to raise up to $2 billion in a new funding round led by Microsoft and SoftBank, according to a report from the Financial Times. The discussions could value the autonomous driving startup at approximately $8 billion, though a final figure has not been set.
Founded in 2017, Wayve specializes in building foundation models for self-driving cars. The potential investment marks one of the largest UK-based fundraises in the autonomous driving segment and reflects intense global competition to back leading AI developers. SoftBank, which led Wayve's previous $1 billion funding round in 2023, is expected to participate again, while Microsoft—already an existing backer—is in active talks for further investment.
The news follows a recent $500 million investment in Wayve from Nvidia, announced last month. Nvidia's robotics systems have powered Wayve's navigation technology since the startup built its first car in 2018. Wayve's AI software is designed to operate on standard automotive hardware, using lower-cost sensors instead of the specialized systems required by rivals like Alphabet's Waymo or Amazon's Zoox. This approach aims to make mass deployment of autonomous technology more commercially viable.
In a significant commercial milestone, Wayve signed its first deployment agreement with Nissan in April. The partnership will see Wayve's self-driving software integrated into Nissan vehicles starting in 2027. The company is expected to use the proceeds from the new funding round to build and train large-scale AI models ahead of this commercial rollout.
Separately, OpenAI is reportedly preparing to raise as much as $100 billion in the coming weeks, according to a report from The Information. Existing investor Nvidia plans to provide up to $30 billion, Microsoft is set to contribute about $10 billion, and Amazon is in talks to invest between $10 billion and $20 billion. Amazon's deal is reportedly contingent on OpenAI using its chips and cloud services for about seven years.
SoftBank also plans to invest $60 billion in OpenAI, following over $40 billion in financing provided last year, and is working with Middle East investors who may contribute up to $50 billion. This funding would help OpenAI cover an estimated cash burn of $9 billion in 2025 and support its spending plans. The company is reportedly preparing for a potential public listing.
