Why SoundHound AI Stock Is Soaring Today
SoundHound AI (NASDAQ: SOUN) stock is posting another day of big gains Monday. The artificial intelligence (AI) software specialist's share price was up 9.5% as of 3:20 p.m. ET. At the same point in the session, the S 500 and the Nasdaq Composite were each up 0.3%. The stock had been up as much as 11.2% earlier today.
While there doesn't appear to be any major new business-specific news for SoundHound AI, the company's valuation is getting a lift from excitement surrounding AI plays and bullish momentum for the broader market. Both the S 500 and the Nasdaq Composite have hit new record levels today, and artificial intelligence investments are playing a big role in the gains.
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