With the tremendous strides that companies have made in bringing various levels of self-driving capabilities to today's cars, forward-looking investors are turning to self-driving car businesses, leading them to consider Wayve stock.
Since its founding in 2017, the London-based company has made tremendous inroads in the field of autonomous driving. According to Crunchbase, Wayve's funding totals about $1.3 billion, and the company proclaims itself as "the first [company] to develop and test an end-to-end (e2e) AI autonomous driving system on public roads." Addressing the company's future, Wayve CEO Alex Kendall has said that the company's "vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people's trust by seamlessly integrating into their everyday lives to unlock extraordinary value."
Before trying to park Wayve stock in your portfolio, there are important things to take into account. Potential investors, for example, will want to consider how to buy shares of Wayve, when it might hold a potential initial public offering (IPO), and whether there are alternative investment opportunities.
When will Wayve IPO?
Between the explosion in popularity of artificial intelligence (AI) stocks and the unique growth opportunities that IPO stocks represent, it's no wonder that many investors are keenly focused on the possibility of buying Wayve stock at its IPO.
However, investors who are interested in Wayve will have to wait since the company is not on the IPO calendar, and there's no indication that it plans to launch an IPO anytime soon.
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Is Wayve profitable?
Because it's a privately held company, Wayve isn't required to submit regulatory filings like its publicly traded peers. As a result, it's unclear whether the company is generating revenue, let alone making a profit.
But it's quite possible that Wayve will be earning revenue before long. According to the company, the completion of the recent Series C funding round will help the company launch its first product with L2+ ADAS. Nvidia characterizes Level 2 (L2) automated driving as systems that provide steering and brake/acceleration support, as well as lane centering and adaptive cruise control. L2+ includes intelligent cockpit services, such as driver monitoring, AI copilot technology using voice and gesture recognition, and advanced in-cabin visualization.
The bottom line on Wayve
Fully autonomous vehicles may not appear in traffic now, but Wayve is making progress toward making this stuff of the future a reality sooner rather than later.
Wayve is still a privately held company, though, and there's no sign of an IPO coming down the road, so investors will have to find alternative investment opportunities. They have options to consider, such as the indirect exposure afforded by Nvidia, Tesla, Qualcomm, and ETFs that focus on autonomous mobility companies.
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