Pony AI (PONY) Soars 11% as Firm Kicks Off Hong Kong Listing

We recently published 10 Stocks Soaring by Double Digits; Uranium Stocks Leading. Pony AI Inc. (NASDAQ:PONY) is one of the top-performing stocks on Tuesday.

Pony AI rallied for a third straight day on Tuesday, jumping 11.13 percent to end at $21.87 apiece following the official filing of an initial public offering in Hong Kong, which could help the company raise as much as $1 billion in fresh funds.

In a statement, Pony AI Inc. (NASDAQ:PONY) said that it would issue more than 41.95 million shares for a global offering, comprising 4.19 million shares to be offered to Hong Kong investors, alongside 37.76 million shares for an international offering.

Depending on the demand, Pony AI Inc. (NASDAQ:PONY) could exercise a full overallotment option of up to 7.2 million additional shares.

The offer price would be set not more than HK$180 ($23.17) apiece, with the final price to be determined on November 3, 2025.

The shares will be traded under the stock code “2026” and in board lots of 100 shares.

According to the firm, proceeds from the offer will be used to carry out its Level 4 autonomous driving technology in its key addressable markets, while the balance will be allocated for research and development, and other general corporate purposes.

In line with the offer, Pony AI Inc. (NASDAQ:PONY) already secured $120 million worth of cornerstone investments from institutional investors, including $100 million from Uber Technologies Inc.

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.