SoundHound AI (SOUN) Stock Jumps on Raised Outlook, Automotive Wins
Shares of SoundHound AI (SOUN) surged today, rising as much as 24% after the company increased its full-year revenue guidance, signaling confidence in its future performance. The stock closed at $17.88, up 17.78% for the day.SoundHound AI provides voice artificial intelligence solutions for various verticals,including restaurants and automotive. The revised outlook follows recent positive developments, including the launch of its generative AI-powered voice assistant, SoundHound Chat AI Automotive, in select Jeep vehicles across several European markets. This integration allows Jeep drivers and passengers to utilize advanced voice commands for tasks like trip planning and accessing vehicle information.
The company’s shares have experienced meaningful volatility, with 91 moves greater than 5% over the past year. Despite today’s gains,SoundHound AI remains down 24.9% since the begining of the year and trades 37.5% below its 52-week high of $24.23, reached in December 2024. An investor who purchased $1,000 worth of SoundHound AI shares at its April 2022 IPO would currently have an investment valued at $2,019.