Wayve's $85M Tender Offer

Wayve, a UK-based self-driving tech startup, is giving employees a chance to sell some of their vested equity in an $85 million tender offer. This move is part of a growing trend among AI startups to use tender offers as a retention tool, allowing employees to cash out early and stick with the company. Wayve’s valuation has reached $8.5 billion, and the company is making progress on its autonomous driving technology, with plans to launch robotaxi pilots and integrate its software into Nissan’s driver-assist systems. Why it matters: this trend highlights the intense competition for talent in the AI industry, where startups are willing to offer unique perks to keep their employees from jumping ship.