SoundHound AI, Inc. (SOUN) is experiencing a surge in its stock price today, driven by the announcement of a new partnership with Lucid Motors. The collaboration introduces the Lucid Assistant, a hands-free voice assistant powered by SoundHound's Chat AI technology, which integrates generative AI to enhance the in-vehicle user experience. This development is set to be showcased at the upcoming CES event, where SoundHound will provide a hands-on demonstration with a Lucid Air vehicle. The partnership is seen as a strategic move to expand SoundHound's presence in the automotive industry, potentially driving revenue growth and enhancing market credibility.
On Reddit, discussions are buzzing with excitement over the partnership. One user remarked, "Lucid is one of the most exciting automakers in the world, so it stands to reason they are launching this pioneering new voice AI assistant." Another user highlighted the potential for the stock to "go crazy green today or tomorrow," reflecting the optimism surrounding the announcement. Additionally, the anticipation of SoundHound's participation in CES is fueling speculation about further positive developments, with users expressing bullish sentiments about the company's growth prospects.
SoundHound AI's stock is currently trading at $20.41, marking a 2.89% increase from its previous close of $19.84. Despite being just over two hours into the trading day, the stock has already seen a substantial volume of 36,113,840 shares traded, representing 60.27% of its average daily volume.