Pony AI, a Chinese autonomous driving tech leader, debuted on Nasdaq in Nov. Goldman Sachs says it has the largest Level 4 fleet in China. Analyst Allen Chang gave a Buy rating and $19.60 price target, citing first driverless robotaxis in 4 cities and potential for growth and profitability in the future.
Shares of driverless tech company Pony AI opened for trading on Wednesday and jumped as much as 19% after the U.S. IPO. The company sold 20 million ADS in the offering for $13 per share to raise $260 million.
Pony AI CEO James Peng emphasized the company's strategic focus on supply chain diversification and international market expansion following its Nasdaq debut, as the autonomous driving technology firm navigates ongoing U.S.-China tensions.
Pony AI Inc debuted on the Nasdaq Global Select Market today, pricing its initial public offering at $13 per ADS. The offering of 20 million ADSs, along with a 30-day underwriters' option for 3 million additional ADSs, aims to raise $260 million in gross proceeds.
