Three major chipmakers are investing in Wayve, a self-driving technology startup. The company's Series D funding round, announced in February, continues to expand with new backers.
Wayve, which develops autonomous driving software, raised $1.2 billion in its Series D round. The funding now includes participation from AMD, Arm, and Qualcomm—three of the semiconductor industry's largest players.
The round has grown since its February announcement, suggesting strong investor appetite for the startup's technology. Wayve's approach focuses on machine learning-based autonomous driving systems rather than traditional rule-based programming.
The chipmaker investments signal confidence in Wayve's technology and may strengthen partnerships between the startup and semiconductor manufacturers. AMD, Arm, and Qualcomm collectively dominate chip design for consumer devices, data centers, and mobile platforms.
Wayve has previously raised funding from investors including SoftBank Vision Fund 2 and others. The startup competes with other autonomous driving companies like Waymo and Tesla in the race to commercialize self-driving technology.
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