Why SoundHound AI Stock Is Skyrocketing Today
SoundHound AI (NASDAQ: SOUN) stock is surging Wednesday thanks to multiple bullish catalysts. The artificial intelligence (AI) company's share price was up 11.2% as of 1:45 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was flat on the day, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 0.3%.
SoundHound and other AI stocks are getting a valuation boost today as investors adopt more bullish positions ahead of the imminent release of Nvidia's fourth-quarter report. SoundHound AI's share price is also getting a boost from its recently unveiled new restaurant platform and upcoming earnings report.
SoundHound has been hit with a wave of sell-offs lately, but the stock is quickly regaining some ground in today's trading. Following a recent bearish shift, investors are pouring back into AI stocks ahead of Nvidia's Q4 report -- due to be released after market close today.
Source Fool.com
