Chip giants AMD, Qualcomm, and Arm invest in autonomous driving startup Wayve

As it competes with rivals such as Waymo, a subsidiary of Google’s parent company Alphabet, this company has added some of the most prominent names in the tech world to its long list of backers. Wayve announced that the aforementioned three semiconductor companies have invested $60 million in it. This comes as a follow-on investment to the $1.2 billion funding round the company announced in February. Although the investment amount is relatively small, it is strategically significant. The UK-based startup now counts several semiconductor giants, including NVIDIA, among its shareholders.