Pony AI moving closer to profitability, WSJ reports

Pony AI (PONY), a Chinese robotaxi company, is moving closer to profitability after overcoming a cost hurdle Chief Technology Officer Lou Tiancheng believes can aid in unlocking the commercialization of driverless vehicles, The Wall Street Journal’s Jiahui Huang reports. Lou says the company can now build its most advanced autonomous driving system for 70% less than before, with the cost cuts bringing it closer to single-unit breakeven. “The key is software optimization,” Lou told The Wall Street Journal. “For example, our software performance has tripled under the same computing power.” Shares of Pony AI trading in New York are up 45.7% to $10.21 in afternoon trading.