NVIDIA and Wayve's Voting Update - Live BusinessBite News Coverage
In a significant move for the autonomous driving industry, UK-based AI company Wayve has received a letter of intent from NVIDIA for a potential $500 million investment in Wayve's next funding round. This investment will be used to further develop Wayve's AI Driver towards Level 3 (eyes-off) and Level 4 (driverless) capabilities across urban and highway domains.
Wayve's foundation model approach, when combined with NVIDIA's computing platforms, provides automakers with advanced 'embodied AI' and hardware. This partnership is expected to accelerate the development and deployment of autonomous vehicles, bringing us one step closer to a fully autonomous future.
Meanwhile, in a separate shareholder vote, the directors of boohoo Group plc, including Mahmud Kamani, Tim Morris, Dan Finley, Phil Ellis, and John Goold, have survived a vote of no confidence. Frasers Group, led by Mike Ashley, owned around 38% of shares in boohoo and voted against the re-election of these directors. However, two advisory groups urged shareholders to vote against the directors' remuneration report, but it was still passed with 57% of shareholders voting in favour.
In another shareholder vote, around 98% of other shareholders voted in favour of the directors' re-election at Wayve. Each resolution for the directors' re-election was passed by 61% or 62% of shareholders. However, no information regarding appointments or departures from Wayve's board was provided in this paragraph.
Elsewhere, NVIDIA has announced a separate £500 million investment in UK firm Nscale. This investment will support Nscale's development of digital twin technology for the automotive industry, further strengthening NVIDIA's position in the autonomous driving market.
In addition, NVIDIA has also planned to invest $5 billion in fellow tech giant Intel for joint development of PC and data centre chips. This strategic partnership is expected to enhance the performance and efficiency of data centres and PCs, benefiting both companies and their customers.
As for the search results, they do not contain information about who will replace Alistair McGeorge as Non-Executive Director at the investment firm Wayve. This development will be closely watched as it could signal a new direction for the company as it continues to grow and innovate in the autonomous driving sector.
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