Valuation and Funding Targets Adjusted

Pony.ai, previously valued at $8.5 billion in a 2022 funding round, has significantly lowered its expectations for the IPO. The company's board of directors has reduced the minimum valuation target to $4 billion, less than half of its previous valuation. Additionally, Pony.ai has cut its minimum fundraising goal from $425 million to $200 million, indicating a more conservative approach in the current market climate.