Pony AI Inc (PONY) stock surged 5.21% in pre-market trading on Friday, following reports that Uber Technologies (UBER) and its former CEO, Travis Kalanick, are exploring a potential acquisition of Pony AI's US operations.

According to sources cited by The New York Times, Uber is in preliminary talks to help fund Kalanick's planned acquisition of Pony AI's US arm. Kalanick, who was ousted as Uber's CEO in 2017, is also reportedly working with other investors to finance the transaction. This development marks a potential return to the mobility sector for Kalanick, who has been focused on his CloudKitchens venture since leaving Uber.

The interest in Pony AI's US operations comes amid growing tensions between the US and China, which have led to increasing fragmentation in the autonomous driving industry. Pony AI, which went public in New York last year, has already shown signs of preparing for a potential split, including "forking" its software in 2022 and recently filing confidentially for a Hong Kong listing. For Pony AI, divesting its US arm could help navigate geopolitical challenges, while for Kalanick and Uber, it presents an opportunity to re-enter the promising robotaxi market.