Why SoundHound AI Inc. (SOUN) Went Up On Friday?

We recently published a list of AI Stocks Dominate Friday’s Top 10 Performers. In this article, we are going to take a look at where SoundHound AI Inc. (NASDAQ:SOUN) stands against other AI stocks that dominate Friday’s top performers.

The stock market bounced back on Friday, erasing the week’s losses following news that a feared government shutdown is unlikely to happen amid news that a funding plan is likely to be passed.

The tech-heavy Nasdaq recorded the highest gain, adding 2.61 percent, followed by the S&P 500 with a 2.13-percent gain, and the Dow Jones with 1.65 percent.

Ten companies, predominantly under the AI industry, mirrored the broader market optimism, registering strong double-digit gains during the session. In this article, we have named the day’s best performers and detailed the reasons behind their performance.

To come up with the list, we only considered those with $2 billion in market capitalization and $5 million in trading volume.

Why SoundHound AI Inc. (SOUN) Went Up On Friday?

A software engineer focused on a computer screen, writing code to create a conversational assistant.

SoundHound AI Inc. (NASDAQ:SOUN)

SoundHound AI saw its share prices grow as high as 16.27 percent on Friday before slight selling positions pulled the company to end the day just up by 16.05 percent at $10.34 apiece.

Investors on Friday bought up shares following news that it would participate in the 2025 NVIDIA GPU Technology Conference (GTC), from March 17-21 in San Jose, California, where it will showcase cutting-edge voice AI innovations that are transforming the automotive industry and redefining in-car experiences.

In a statement, SOUN CEO and co-founder Keyvan Mohajer said that the upcoming event will be the perfect stage for SOUN to showcase the future of voice AI.

“Our collaboration with NVIDIA and our voice commerce technology are set to redefine the in-vehicle experience. We look forward to demonstrating how our AI solutions unlock new possibilities for automakers, brands, and consumers alike,” he added.

Overall, SOUN ranks 6th on our list of AI stocks that dominate Friday’s top performers. While we acknowledge the potential of SOUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as SOUN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.