Chinese companies had been avoiding stateside IPOs due to geopolitical tensions, but now they have fresh reason to consider U.S. markets.

Pony AI Inc. ($PONY), a Chinese autonomous driving start-up, debuted on the Nasdaq on Wednesday with its American depositary shares climbing as much as 19%. The company’s valuation has surpassed $5 billion,

(Reuters) -Shares of Pony AI rose about 15% in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.

Pony AI, which makes technology for robotaxis and autonomous trucks, is set to price its U.S. initial public offering as early as Monday after the closing bell, according to market sources. China-base

The Chinese autonomous driving tech company will go public on the U.S. markets at $13 per share. © 2024 TechCrunch. All rights reserved. For personal use only.