SoundHound AI Soars 16% on Booming AI Demand and Bullish Outlook; BigBear.ai Jumps 12%-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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SoundHound AI Soars 16% on Booming AI Demand and Bullish Outlook; BigBear.ai Jumps 12%

Tiger Newspress2024-12-27

SoundHound AI Inc shares surged over 16% on Thursday, extending the stock's remarkable rally this year driven by the growing craze for artificial intelligence (AI) and voice recognition solutions. Other AI stocks also gained: BigBear.ai Holdings rose 12%; C3.ai, Inc. rose 4%.

The rally was fueled by a bullish note from H.C. Wainwright, which more than tripled its price target for SOUN from $8 to $26, implying an upside potential of 27% from the current levels. The analyst cited SoundHound's scalable platform and expanding customer base across multiple sectors as key drivers for the price target revision.

SoundHound, a provider of conversational AI and voice recognition technology, has witnessed a meteoric rise in its stock price this year, gaining over 860% year-to-date. The company's strong performance has been backed by solid financial results, an investment from Nvidia, and growing adoption of its voice AI solutions in industries like automotive, retail, healthcare, and financial services.

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