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Uber Technologies Inc. plans to invest in Pony AI Inc.’s US initial public offering, which is expected to be priced next week after being upsized by the autonomous driving firm, people familiar with the matter said.
San Francisco-based Uber is seeking to buy more than $10 million of shares in Pony AI’s IPO, the people said, asking not to be identified discussing confidential information. The company may consider using Pony AI technology in a partnership outside of the US, one of the people said. Deliberations are ongoing and the size of a potential investment hasn’t been finalised, they said.
A representative for Uber declined to comment. Pony AI didn’t respond to a request for comment. Uber has tied up with several other automated driving tech firms recently, including robotaxi operator Waymo and an undisclosed investment in Wayve Technologies Ltd.
It also has a robotaxi service agreement in Abu Dhabi with China’s WeRide Inc., which raised funds in an IPO in the US last month. Pony AI’s IPO was initially expected to be priced on November 21, but that’s been pushed back as the Chinese company addresses regulator questions, the people said.
It has also been increased to 20 million American depository shares from 15 million planned previously, potentially raising $260 million, terms of the deal obtained by Bloomberg News show. The price range is $11 to $13 per share. Data Science SQL Server Bootcamp 2024: Transform from Beginner to Pro By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program Web Development Master RESTful APIs with Python and Django REST Framework: Web API Development By - Metla Sudha Sekhar, IT Specialist and Developer View Program Leadership Validating Your Startup Idea: Steps to Ensure Market Fit By - Dr.
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