Chinese autonomous driving technology company Pony AI started trading on the Nasdaq on Wednesday at $15 per share, securing it a valuation of $5.25 billion. That opening price is 15% higher than Pony’s offering price of $13, which itself was at the high end of its expected range.

Chinese companies had been avoiding stateside IPOs due to geopolitical tensions, but now they have fresh reason to consider U.S. markets.

(Reuters) -Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.

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Shares of Pony AI opened about 15% above their offer price in their market debut on Wednesday, giving the robotaxi company a valuation of $5.25 billion, in an indication of a positive investor approach to China-based firms.