SoundHound AI Stock Levels Amid News Moves

SoundHound AI Stock Surges and Falls

SoundHound AI shares experienced a significant 21% surge on Thursday following the announcement of its acquisition of enterprise AI software firm Amelia for $80 million. This strategic move aims to expand SoundHound's presence in the conversational AI space by tapping into new verticals and brands. However, the stock saw a 5% drop in extended trading after the company reported its quarterly results, despite exceeding earnings and revenue estimates. This decline may be attributed to a larger GAAP net loss compared to the previous year, creating some investor concern.