AI tech developer SoundHound jumps 44%, up 93% since Airmeez deal (update)
SoundHound AI SSOUN stock continued to gain ground on Friday, with shares of the AI voice technology developer climbing 44%.
Shares of SoundHound, which went public in April, opened at $1.90, reaching a high of $3.13 in early afternoon. The stock closed at $2.82.
SoundHound shares have made considerable gains since the company announced an AI deployment deal with Airmeez. The stock has surged 93% since the deal was announced on Jan. 26 after hitting a 52-week low of $0.93 on Dec. 22.
Also stoking shares is increased investor interest in AI technology developers following Microsoft's announcement last month that it planned to invest billions in ChatGPT developer OpenAI.
SoundHound went public in April following a merger with SPAC Archimedes Tech.