Pony AI Soars 19% in Nasdaq Debut, Valued at $5.25 Billion
Pony AI Inc., a Chinese autonomous driving startup, saw its American depositary shares rise 19% on their US trading debut after raising $413.4 million through an IPO and private placements. The company, which develops self-driving vehicles, priced its shares at the top of the marketed range, giving it a market value of nearly $5.4 billion. The IPO is part of a modest revival of Chinese companies listing in the US, with Pony AI's offering contributing to the $1.2 billion raised by Chinese firms in US IPOs this year.