NVIDIA Corporation (NVDA) to Potentially Invest $500 million in Wayve

NVIDIA Corporation (NASDAQ:NVDA) is one of the Best Technology Stocks to Invest in for the Long Term. On September 19, Reuters reported that NVIDIA Corporation (NASDAQ:NVDA) has signed a letter of intent to potentially invest $500 million in Wayve, a UK-based autonomous driving technology company. This investment is said to take place in Wayve’s next funding round. The company uses machine learning and camera sensors to teach cars how to drive. This differs from traditional systems that rely on detailed maps and coding. Moreover, NVIDIA Corporation (NASDAQ:NVDA)’s chips power Wayve’s platforms, supporting the company’s AI-driven approach. Wayve was founded in 2017 and raised over $1 billion last year, including backing from SoftBank. In addition to NVIDIA Corporation (NASDAQ:NVDA), Uber also invested in the company in 2024. It currently tests its technology in Britain and the US, with plans to expand into Germany and Japan. NVIDIA Corporation (NASDAQ:NVDA) develops advanced computing infrastructure focused on accelerated computing. It provides AI solutions, data center platforms, and automotive technologies for autonomous vehicles. While we acknowledge the potential of NVDA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.