Nvidia Bets on British Industrial Tech with Oxa Funding Deal

FomoAnxiety · 2026-03-04T04:52:58+00:00

Nvidia continues to invest in British transport, recently funding UK startup Oxa with $103 million. Oxa, which shifted focus from driverless cars to industrial vehicle automation, receives additional support from the UK government and notable investors.

FomoAnxiety

2026-03-04 04:52:58

Abstract generation in progress

Nvidia NVDA -1.33% ▼ is continuing to put its money into the future of British transport. On March 4, the chip giant’s venture arm, NVentures, joined a $103 million funding round for the UK startup Oxa. This follows a much larger $1.5 billion deal Nvidia made with another UK firm, Wayve, just last month. While some investors have slowed down, Nvidia is staying active in the AI race.

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Oxa Targets Industrial Work

Oxa was the first to test a driverless car on a British road, but it has now shifted its goals. Instead of making cars for city streets, it builds software and hardware for vehicles used in mines, ports, and warehouses.

Founder Paul Newman stated that building passenger cars is “unbelievably expensive”. He noted that “scaling in that environment is so much harder” than working in industrial zones. Oxa now fits its tech onto existing vehicles, like tow tractors, to help companies automate their daily chores.

The UK Government Joins the Bet

Nvidia was joined by several major backers in this round. The UK government’s National Wealth Fund put in $50 million to support the local tech scene.

Other investors include BP’s BP -1.55% ▼ venture fund and groups like Ocado OCDGF -19.81% ▼ and IP Group IPZYF +1.96% ▲ . Some of these older backers had recently lowered the value of their shares because of funding delays, but the new cash from Nvidia and the government gives Oxa the fuel it needs to grow in Europe and the Middle East.

Is NVDA Stock a Strong Buy?

Overall, Wall Street has a Strong Buy consensus rating on Nvidia stock based on 38 Buys, one Hold, and one Sell recommendation. The average NVDA stock price target of $271.11 indicates about 50.6% upside potential.

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