Chinese Self-Driving Car Company Pony AI (PONY) Holds IPO in New York
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Pony AI, a Chinese self-driving car company, is holding its IPO in New York today under the ticker symbol "PONY". The IPO, underwritten by Goldman Sachs and Bank of America, values the company at $8.5 billion. Pony AI is selling 20 million American depositary shares at $17 each. The company operates a fleet of 250 robotaxis and 190 robotrucks in China and has partnered with Toyota to develop self-driving vehicles. For the nine months ending September 30, Pony AI reported a loss of $90.9 million and revenue of $12.5 million.
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