AsianFin -- U.S. chip designer Nvidia has signed a letter of intent to potentially invest $500 million in the next funding round for Britain’s autonomous driving technology company Wayve, the firm announced Thursday.

The move follows a recent technology pact between the United States and the United Kingdom, aimed at strengthening collaboration in artificial intelligence and other high-tech sectors.

Founded in 2017, Wayve raised over $1 billion last year in a round led by SoftBank Group and supported by Nvidia. Ride-hailing platform Uber also made a separate investment in 2024, though the sum was undisclosed.

Wayve’s autonomous driving technology diverges from conventional systems that rely on detailed digital maps and pre-coded instructions. Instead, it employs machine learning with camera sensors on vehicles to learn from real-world traffic patterns and driver behavior.

The company’s platforms have long been powered by Nvidia technology, and the proposed investment highlights the growing role of Nvidia’s chips in supporting AI-driven innovations worldwide.