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SoundHound AI Inc (NASDAQ:SOUN) shares are trading higher Thursday morning, riding a wave of renewed optimism across the technology sector following Nvidia's blockbuster third-quarter earnings report. Here’s what investors need to know.
What To Know: The rally provides welcome relief for SoundHound investors. Despite posting strong third-quarter results earlier this month, including a 68% year-over-year revenue surge to $42.05 million, SOUN stock had tumbled approximately 30% over the last month amid broader valuation concerns.
Nvidia's report late Wednesday has acted as a rising tide for the industry. The chipmaker delivered $57 billion in revenue, beating the $54.88 billion consensus, and issued strong guidance, signaling that demand for AI infrastructure remains strong.
This potentially validates the growth narrative for software players like SoundHound, which recently raised its own full-year 2025 revenue guidance to between $165 million and $180 million.
With Nvidia CEO Jensen Huang declaring that the “AI era is in full steam,” the market appears effectively risk-on again for speculative AI growth stocks.
Investors are potentially re-evaluating SoundHound’s recent dip as a buying opportunity, bolstered by CEO Keyvan Mohajer's assertion that their technology is outperforming Big Tech rivals in accuracy and latency.
Benzinga Edge Rankings: Benzinga Edge data highlights a divergence in technical signals, assigning the stock a strong Momentum score of 88.98 even as price trends remain negative across short, medium and long-term horizons.
SOUN Price Action: SoundHound AI shares were up 5.50% at $12.28 at the time of publication on Thursday, according to Benzinga Pro data.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in SoundHound AI’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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Posted In: SOUN
