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The company counts TPG, Amazon.com and General Electric among investors with 5% or greater stakes.

Kodiak AI went public Sept. 25 after the self-driving truck developer’s merger with special purpose acquisition company Ares Acquisition Corp. II.

The startup is generating about $500 million of annualized recurring revenue from its more than 100,000 customers.

Teaming up with the SPAC controlled by former investment banker Michael Klein will put a valuation of $1.2 billion on Plus. The combined entity will be known as PlusAI.

Autonomous driving company Pony AI has confidentially filed for a Hong Kong listing to help raise capital to grow its business, according to people familiar with the situation.

Venture Global Inc., one of the biggest suppliers of liquefied natural gas in the U.S., filed for what could be one of the largest initial public offerings of 2025.

With Pony’s offering, Chinese companies have raised $1.2 billion via U.S. IPOs this year, nearly double the amount in the same period in 2023 but below the heights seen during the pandemic.

Temperature-controlled storage and logistics giant Lineage Inc. shares climbed as much as 5.4% in its debut as a public company after raising about $4.4 billion in the year’s largest IPO.

Omers Private Equity is exploring an initial public offering of Kenan Advantage Group, one of North America’s biggest tank truck transporter and logistics providers, according to sources.

Cummins Inc. plans to distribute its remaining stakes in Atmus Filtration Technologies about a year after carving out the unit in an initial public offering.