Uber is considering purchasing Pony.ai's US unit, potentially backed by Travis Kalanick.

Uber Technologies, Inc. (NYSE:UBER) is considering purchasing Pony.ai’s US operations, rated among the best FAANG stocks by hedge funds. Talks are in early stages, with Travis Kalanick possibly leading the company with an equity investment from Uber and others. This move could address regulatory issues surrounding Chinese autonomous vehicles in the US.

Uber Technologies, Inc. (NYSE:UBER) is a major player in ride-hailing, food delivery, and freight services globally. The company has transformed urban transportation by connecting drivers and passengers through its mobile app. Analysts see potential in UBER as an investment, but suggest other AI stocks with greater upside and less risk may be worth considering.

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Read more at Yahoo Finance: Uber Eyes Pony.ai’s U.S. Unit in Potential Deal Backing Founder Travis Kalanick