Pony AI (PONY) Soars 11.98% on Uber Acquisition

Pony AI Inc. (NASDAQ:PONY) is one of the 10 Stocks Delivering Eye-Popping Gains.

Pony AI grew its share prices by 11.98 percent on Thursday to finish at $14.58 apiece following news that Uber Technologies Inc.’s (NYSE:UBER) co-founder, Travis Kalanick, is setting his sights on the Chinese robotaxi firm’s US subsidiary.

Pony AI Inc. (NASDAQ:PONY), which went public only last year, has been mulling over selling or spinning off its US subsidiary since 2022, even going as far as creating a copy of its software.

Reports added that Uber Technologies Inc. (NYSE:UBER) is ready to back Kalanick’s acquisition plan.

Acquiring Pony AI Inc. (NASDAQ:PONY) would bring Kalanick back to the transportation business since he was pushed out of his own co-founded company in 2017.

Pony AI (PONY) Soars 11.98% on Uber Acquisition

A worker assembling parts in an automotive factory for an autonomous vehicle.

The buyout bid followed Pony AI Inc. (NASDAQ:PONY) and Uber Technologies Inc.’s (NYSE:UBER) partnership of expanding the former’s international market presence, kicking off with key markets in the Middle East.

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 have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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