Five Chinese Firms Dominate Friday’s Top 10 Gainers

1. Pony AI Inc. (NASDAQ:PONY)

Pony AI soared by 32 percent in Friday’s trading, ending the session at $23.61 each as investors cheered news that the company secured the exclusive operation of a robotaxi route in Guangzhou, China.

In a statement, PONY said it had begun providing “paid robotaxi services from multiple locations in Guangzhou’s city center to Guangzhou Baiyun International Airport and Guangzhou South Railway Station,” underscoring expectations of high demand for its service in the said route.

“By offering autonomous rides from the heart of the city to key transit hubs, we’re providing practical, real-world services that meet the needs of travelers and city residents alike, solidifying Pony.ai’s status as a global leader in the large-scale commercialization of autonomous mobility.”  PONY CEO James Peng said in a statement.

While we acknowledge the potential of PONY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as PONY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.