SoundHound AI Exploding Thanks to Nvidia

Voice AI and speech recognition stock, SoundHound (SOUN) is flying.

In fact, over the last few days, the AI stock jumped from about $2.34 to $7.31. Not only is it running ahead of earnings tomorrow, but it’s also up on news Nvidia bought about 1.73 million shares of the AI stock. And it could be the start of something much bigger.

“We view this as a positive indicator for the company as this investment now further solidifies the company’s brand within the AI Revolution with the Godfather of AI Jensen [Huang] and NVDA now backing SOUN and we believe this could be the start of a broader investment into the company down the line which is a clear tailwind,” Wedbush’s Dan Ives said, as quoted by Seeking Alpha.

Wedbush also has an outperform rating on SOUN with a price target of $5.