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Why SoundHound AI Stock Is Skyrocketing Again Today

SoundHound AI (NASDAQ: SOUN) stock is posting explosive gains in Monday’s trading. The company’s share price was up 39.5% as of 2:40 p.m. ET, according to data from S&P Global Market Intelligence.

SoundHound AI is surging today thanks to an announcement that Nvidia (NASDAQ: NVDA) has formed a new partnership with other influential hardware and software players to advance artificial intelligence (AI) technologies in the telecommunications industry. Nvidia also announced that it was expanding its partnership with ServiceNow to advance telecom technologies.

The news could bode well for SoundHound’s voice-based assistant business. The audio software specialist’s stock is now up 180% across 2024’s trading.