FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo
(Reuters) -British autonomous driving technology group Wayve is in talks with Microsoft and SoftBank to raise up to $2 billion in funding, which could value the firm at about $8 billion, the Financial Times reported on Monday, citing sources.
This comes after Nvidia had signed a letter of intent in September for a potential $500 million investment in London-based Wayve, as investors globally pour billions into fast-growing AI start-ups.
Wayve currently operates in Britain and the U.S. and has been expanding its testing and development operations to markets, including Germany and Japan.
The firm declined to comment on the report, while Microsoft and SoftBank did not immediately respond to Reuters' requests for a comment.
Founded in 2017, Wayve raised over $1 billion last year, led by SoftBank and supported by Nvidia. Ride-hailing platform Uber also made an undisclosed investment in the firm in 2024.
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Tasim Zahid)
