Why Pony AI Inc. (PONY) Soared Last Week

We recently published a list of Why These 10 Firms Recorded Double-Digit Gains Last Week. In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against other firms that recorded double-digit gains last week.

Ten companies finished the past trading week on a high note, outperforming the three major indices with double-digit gains amid a flurry of catalysts, including upcoming earnings releases, that sparked buying appetite.

Week-on-week, the Nasdaq rallied by 6.7 percent, the S&P 500 clocked in a 4.59-percent gain, while the Dow Jones was up by 2.48 percent.

In this article, we have listed last week’s top 10 performing stocks and detailed the reasons behind their gains. The stocks were chosen based on the highest percentage increase in closing prices on April 25 as against their prices on April 17, or the week prior.

To come up with the list, we considered only the companies with a $2-billion market capitalization and a $5-million trading volume.

Copyright: dolgachov / 123RF Stock Photo

Pony AI Inc. (NASDAQ:PONY)

Pony AI saw its share prices soar by 56.47 percent week-on-week to close at $7.01 on Friday versus the $4.48 close on April 17, following news that it will develop an autonomous driving technology and offer robotaxi services soon.

In an interview with CNBC on Friday, Pony AI Inc. (NASDAQ:PONY) CEO James Peng said that the company is in talks with Tencent Cloud “for quite some time” to offer robotaxi services on the latter’s WeChat and other applications.

Peng said that both companies will benefit from the latter’s huge user base and cloud offerings.

Commenting on the partnership, Tencent Group Vice President Zhong Xiangping, in a statement, said: “This strategic partnership between the two parties is not only about complementing each other’s technologies and resources but also marks a new starting point for collaborative innovation.”

“Pony.ai possesses industry-leading autonomous driving technology accumulations, while Tencent excels in cloud services, mapping, and cockpit ecosystem technologies,” he said.

Overall, PONY ranks 1st on our list of firms that recorded double-digit gains last week. While we acknowledge the potential of PONY as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than PONY but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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