SoundHound AI, Inc. (SOUN) is experiencing a notable uptick in its stock price today, driven by recent developments and investor sentiment. A significant factor contributing to this positive movement is the announcement of a partnership with Lucid Group Inc., which was showcased at the Consumer Electronics Show (CES) in January. This collaboration integrates SoundHound's Chat AI into Lucid's proprietary assistant, enhancing the vehicle's voice interaction capabilities. The partnership has generated excitement among investors, as it represents a significant advancement in SoundHound's technology being adopted in the automotive sector.
Additionally, discussions on Reddit have highlighted the potential impact of SoundHound's technology being included in the new Honda and Sony car collaboration, the AFEELA 1. Although not officially announced, a live agent from AFEELA confirmed the inclusion of SoundHound's conversational AI, which has further fueled investor optimism. Reddit users are also speculating about the potential for SoundHound's stock to benefit from these automotive partnerships, with one user noting, "This is yet to be announced and I think it would move the stock as well with a proper news release."
SoundHound AI's stock is currently trading at $14.19, up 10.93% from the previous close of $12.79. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 18,708,755 shares, representing 27.74% of its average daily volume of 67,447,406 shares, indicating active trading this morning.