What smart money is saying about Pony AI
3 funds in our archive have pitched Pony AI, most recently Platinium Asset Management in December 2025.
Pony AI Inc., through its subsidiaries, engages in the autonomous mobility in the People's Republic of China and the United States. The company provides robotruck services, such as transportation services to the logistics platforms. It also offers robotaxi services, including a suite of AV engineering solutions comprising AV software deployment and maintenance, vehicle integration and engineering, and road testing; and fare-charging robotaxi services. In addition, the company offers personally-owned vehicle intelligent solutions, including intelligent driving software solutions, proprietary vehicle domain controller products, and data analytics tools; vehicle integration services, software development, and licensing services; and vehicle-to-everything (V2X) products and services to enhance road safety. The company was incorporated in 2016 and is based in Guangzhou, the People's Republic of China.
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Fund signal · last 12 months
4 lettersToo few moves on Pony AI yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2025 and Q2 2026, 4 fund letters reported a position in Pony AI, with 3 buys (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 3 | 2 | 0 | 0 |
| Q4 2025 | 1 | 1 | 0 | 1 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions · 3 moves
- June 2026
“We added to several of our existing positions during the quarter, including JSW Energy Limited , Grupo Mexico, S.A.B. de C.V. , SK hynix Inc. , Alibaba Group Holding Limited , Nu Holdings Ltd. , Power Grid Corporation of India Limited , Contemporary Amperex Technology Co., Limited , d'Alba Global Co., Ltd. , and Pony AI Inc.”
Pony AI - June 2026
“From a sector or theme perspective, poor stock selection effect in the Information Technology (IT) sector, owing to select investments in our advanced semiconductors/AI ( ISC Co., Ltd. ) and China value-added ( GDS Holdings Limited , Kingdee International Software Group Company Limited , and Pony AI Inc. ) themes, was the largest detractor to relative performance during the quarter.”
Pony AI - June 2026
“We added to several of our existing positions during the quarter, including JSW Energy Limited, Grupo Mexico, S.A.B. de C.V., SK hynix Inc., Alibaba Group Holding Limited, Nu Holdings Ltd., Power Grid Corporation of India Limited, Contemporary Amperex Technology Co., Limited, d'Alba Global Co., Ltd., and Pony AI Inc.”
Pony AI - New positionPlatinium Asset ManagementDecember 2025
“Broader Asia: growing pains and steady gains Indian markets had a solid quarter, but our specific exposure faced headwinds. Most notably, InterGlobe Aviation (operator of IndiGo) saw its share price suffer due to operational hiccups adapting to new government staffing regulations. In Southeast Asia, holdings such as Vietnamese retailer Mobile World and Indonesian automotive giant Astra International added to Fund returns, benefiting from resilient consumer demand in their economies. Performance compound p.a.+, to 31 December 2025 QUARTER 1YR 3YRS 5YRS SINCE INCEPTION Platinum Asia Fund* 5% 24% 14% 6% 13% MSCI AC Asia ex Jp Index^ 4% 23% 17% 7% 10% + Excludes quarterly returns. * C Class – standard fee option. Inception date: 4 March 2003. After fees and costs, before tax, and assuming reinvestment of distributions. ^ Index returns are those of the MSCI All Country Asia ex Japan Net Index in AUD. Source: Platinum Investment Management Limited, FactSet Research Systems. Historical performance is not a reliable indicator of future performance. See note 1, page 40. Numerical figures have been subject to rounding. Value of $20,000 invested over five years 31 December 2020 to 31 December 2025 After fees and costs, before tax, and assuming reinvestment of distributions. Historical performance is not a reliable indicator of future performance. Source: Platinum Investment Management Limited, FactSet Research Systems. See notes 1 & 2, page 40. $14,000 $18,000 $24,000 $16,000 $20,000 $26,000 $22,000 $28,000 $30,000 2020 2022 20242021 2023 2025 MSCI AC Asia ex Japan Net Index (A$) Platinum Asia Fund (C Class) PLATINUM ASSET MANAGEMENT14 The future is here (and it’s taking passengers) During the quarter, we introduced a small position in Chinese autonomous vehicle company, Pony AI.”
Pony AI
Fund coverage · 3 theses
- Platinium Asset ManagementDecember 2025
Pony AI is scaling robotaxi operations with improving unit economics and technology robustness, positioning it for rapid autonomous mobility growth.
Read the full thesis - Baron International Growth FundJuly 2025
Pony AI Inc. is a leading player in the emerging multi-billion-dollar robotaxi market in China, positioned for rapid growth through advanced technology, strategic partnerships, and regulatory approvals.
Read the full thesis - Baron Emerging Markets FundJune 2025
Pony.ai is a leading player in the autonomous mobility sector, poised to dominate the evolving multi-billion-dollar robotaxi market in China and globally, driven by advanced AI technology, strategic partnerships, and a strong safety record.
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