Chinese robotaxi firm Pony AI files for US IPO
Pony AI, backed by automaker Toyota, filed for an initial public offering in the U.S. on Thursday, in another sign of growing investor interest in new listings and easing regulatory pressures.
Activity in the IPO market has picked up pace in recent weeks, buoyed by the U.S. Federal Reserve kicking off its highly anticipated policy-easing cycle and benchmark indexes trading near record high levels.
Pony AI, in which Japan's Toyota owns a 13.4% stake, revealed that its revenue nearly doubled to $24.7 million in the first half of 2024. Net loss attributable to the company was $51.3 million in the same period, compared with $69.4 million last year.
The company said it operates a fleet of over 250 robotaxis, which have accumulated over 33.5 million kilometers of autonomous driving mileage, including over 3.9 million kilometers of driver-less mileage.
The company was valued at $8.5 billion when it raised funds in 2022. It also secured $100 million from Saudi Arabia's NEOM last year.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Finance
Corporate Fraud and Forensic Modelling
By — Ankush Lamba, Managing Director- Ankura
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By — Metla Sudha Sekhar, IT Specialist and Developer
Legal
Data Privacy with General Data Protection Regulation (GDPR)
By — Arun S. Prabhu, Partner (Head- Technology and Telecommunications): Cyril Amarchand Mangaldas
Web Development
A
