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The phrase "are being driven by" is correct and usable in written English.
It can be used to describe a situation where actions or decisions are influenced or motivated by certain factors or forces.
Example: "The changes in policy are being driven by the need for greater transparency and accountability."
Alternatives: "are influenced by" or "are motivated by".
Exact(60)
So there's an element of this where the valuations are being driven by the amount of capital being raised".
Prices are being driven by speculative demand.
"Now searches are being driven by shopping".
The talks are being driven by new leadership at Salomon.
Two such factors are being driven by the senior judiciary.
Universities, he says, "are being driven by madmen".
Food prices are being driven by oil prices.
Events are being driven by the Republican leaders.
The shifts are being driven by multiple factors.
Both trends are being driven by the high price of gasoline and diesel fuel.
Gay rights and gay marriages are being driven by an array of social forces and institutions.
More suggestions(16)
are being retrieved by
are being moved by
are being ridden by
are being accelerated by
are being served by
are being proactive by
are being pressured by
are being bullied by
are being overseen by
are being overcome by
are being trampled by
are being overtaken by
are being affected by
are being joined by
are being pressed by
are being stymied by
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com