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Nvidia to support funding for a British self-driving technology company, led by SoftBank Group.
The leading chip giant in the United States $NVIDIA (NVDA.US)$ participates in the $1.05 billion funding round of British self-driving technology startup Wave Technologies.
$SoftBank Group (9984.JP)$ leads, as Wave's existing investor $Microsoft (MSFT.US)$ further injects funds. The company has not disclosed its latest valuation.
This funding underscores the continued demand of investors for artificial intelligence, boosting the self-driving car industry. In recent years, this industry has faced setbacks in convincing regulatory authorities of the safety of unmanned driving cars.
Alex Kendall, CEO of Wave, stated in an interview at the company's headquarters in London that the company has received investment interest from multiple automobile companies, but has decided not to abandon the option of cooperating with a single manufacturer in the future. Furthermore, he added that they are continuing discussions with auto manufacturers to integrate this technology into automobiles.
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