Self-driving truck startup TuSimple Holdings Inc is aiming to raise about $1.3 billion by selling around 34 million shares at $35 to $39 each in its initial public offering (IPO) in the US.
The San Diego, California-based company is also targeting a valuation of over $8 billion.
The company will list on Nasdaq under the symbol “TSP”.
TuSimple, backed by United Parcel Service (UPS) and Volkswagen’s commercial trucking unit TRATON, is developing self-driving trucks with Navistar International Corp that are slated to start production in 2024.
TuSimple also launched a self-driving freight network partnership with UPS and Berkshire Hathaway Inc’s supply chain unit, McLane, in July.
According to TuSimple, a 2017 investment from Sun Dream Inc, an affiliate of Chinese technology firm Sina Corp, is being probed by the Committee on Foreign Investment in the United States.
Morgan Stanley, J.P.Morgan, and Citigroup are among the offering's underwriters.


Oil Prices Steady as U.S.-Iran Talks Ease Supply Fears Ahead of Holiday Weekend
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks
Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report
Gold Price Today: Bullion Heads for First Weekly Gain as Weak U.S. Jobs Data Eases Rate Hike Fears
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows
Meta CEO Zuckerberg Says AI Agent Development Has Slowed Despite Massive AI Investment
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus
Denmark Central Bank Intervenes to Support Krone Peg Against Euro
EU Chip Industry Faces Growing Risks From China Export Controls and U.S. Technology Dependence: Report
Anthropic Restores Claude Fable 5 and Mythos 5 After U.S. Lifts AI Export Controls
Apple Expands iPhone Lineup, Boosts Foldable iPhone Production Plans Through 2027
JPMorgan Cuts Gold Price Forecast, Sees Bullion Reaching $4,500 by End of 2026
Meta Stock Jumps as AI Cloud Expansion Challenges AWS, Microsoft, and Google
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert
Norway Offshore Oil Workers Reach Wage Deal, Averting Strike
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy
Tesla Q2 Deliveries Lift Chinese Auto Suppliers as EV Demand Improves 



