Pony AI, a Chinese autonomous driving technology firm, commenced trading on the Nasdaq on Wednesday at $15 per share, giving it a valuation of $5. 25 billion. This opening price represents a 15% increase over the initial offering price of $13, which was at the upper range of expectations. In its initial public offering, Pony sold 20 million American depositary shares, generating $260 million. Additionally, strategic investors purchased approximately $153 million worth of Pony AI shares through private placements. The underwriters of the deal—Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers—have the option to acquire an extra 3 million shares. Overall, Pony's total proceeds might reach up to $452. 4 million. Pony AI follows WeRide and Zeekr as the most recent Chinese tech company to enter the U. S.

public markets after a period of restrictions imposed by Beijing. Investors are closely monitoring Pony's performance as both the U. S. and China compete in advancing autonomous vehicle technology. This article has been updated to include Pony AI's opening price and updated valuation.