SoundHound AI Stock Continues Its Surge: What's Going On?

SoundHound AI Inc SOUN shares are trading higher Thursday after rallying more than 22% on Tuesday after the company provided an update on its ChatGPT-integrated voice assistant.

What To Know: SoundHound on Wednesday announced that its Chat AI voice assistant with integrated ChatGPT is now live and in production in Peugeot, Opel, and Vauxhall vehicle brands across 11 European markets including Austria, France, Germany, Italy, Spain and the United Kingdom. 

SoundHound expects to enter 17 total markets by the end of July. For certain previously released models, SoundHound Chat AI with integrated ChatGPT will be available on-demand and can be delivered over-the-air with no need to visit a dealer.

"Our collaboration with Stellantis has put both companies right at the cutting edge of innovation in the automotive sector, bringing the driver experience into a new and exciting era," said Michael Zagorsek, COO of SoundHound AI.

"SoundHound is proud to deliver voice AI technology that meets the market's demand for a next generation consumer experience built on natural conversation."

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SoundHound is expected to report earnings for the second quarter sometime in early August. According to estimates from Benzinga Pro, the company is expected to report a loss of 9 cents per share and revenue of $13.083 million.

It’s worth noting that SoundHound saw significant attention from retail traders on Wednesday. The stock was trending across various social platforms and was the top trending ticker on Stocktwits for most of the afternoon. SoundHound was also among the most searched stocks on Benzinga Pro in the first half of the year.

SOUN Price Action: SoundHound shares were up 15.8% at $5.87 at the time of publication, according to Benzinga Pro.

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