We recently published a list of Five Chinese Firms Dominate Friday’s Top 10 Gainers. In this article, we are going to take a look at where Pony AI Inc. (NASDAQ:PONY) stands against the other friday’s top gainers.

The stock market suffered a bloodbath on Friday, with major indices posting whopping declines, as investors sold off positions for saver havens amid concerns about a slowing economy and sticky inflation.

The Dow Jones fell by 1.69 percent, the S&P declined by 1.71 percent, while the tech-heavy Nasdaq nosedived by 2.20 percent.

Meanwhile, 10 stocks—predominantly Chinese firms—defied a broader market downturn, clocking in gains.

To come up with Friday’s best performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

Pony AI Inc. (NASDAQ:PONY)

Pony AI soared by 32 percent in Friday’s trading, ending the session at $23.61 each as investors cheered news that the company secured the exclusive operation of a robotaxi route in Guangzhou, China.

In a statement, PONY said it had begun providing “paid robotaxi services from multiple locations in Guangzhou’s city center to Guangzhou Baiyun International Airport and Guangzhou South Railway Station,” underscoring expectations of high demand for its service in the said route.

“By offering autonomous rides from the heart of the city to key transit hubs, we’re providing practical, real-world services that meet the needs of travelers and city residents alike, solidifying Pony.ai’s status as a global leader in the large-scale commercialization of autonomous mobility.”  PONY CEO James Peng said in a statement.

Overall, PONY ranks 1st on our list of friday’s top gainers. While we acknowledge the potential of PONY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as PONY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.