SoftBank leads $1bn funding for UK artificial intelligence group Wayve

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Japanese conglomerate SoftBank is leading an investment of more than $1bn into UK self-driving car start-up Wayve, marking Europe’s largest artificial intelligence deal to date.

The funding round, which also includes Nvidia and existing investor Microsoft, will allow the London-based company to deploy its autonomous systems in cars in the coming years.

Wayve’s new financing is the largest for a European AI start-up, after France-based Mistral raised $415mn in December and Germany’s Aleph Alpha raised $500mn in November.

The deal

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As companies are reporting their financial results for the first quarter of 2024, artificial intelligence once again appears to be one of the leitmotifs of the current earnings season. While the data for the current earnings season is unavailable, FactSet estimated

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Wherever smart people today get the job done, doors are unlocked.”

-Steve Wozniak

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